Coniston Capital has completed an investment in Equity Networks, an IT Managed Service Provider, to fund their acquisition strategy. This investment is the sixth from Coniston Capital I LP, which had its final close in March 2022.
Equity Networks was founded in 2011 and is led by Co-Managing Directors, Alex Hall and Marcos Reid. The business offers four key services: Managed Cloud Applications, including the implementation and maintenance of platforms like Office365, Managed Cloud Infrastructure, where data is migrated from outdated servers to the Cloud, Managed Security of data and Managed Communications, primarily internet connectivity.
The business has made five acquisitions to date. The partnership with Coniston will enable Equity Networks to execute on the next phase of acquisitions, with several opportunities in the pipeline.
Edward Spurrier will join the board of directors as Non-Executive Chairman. Spurrier has built a successful career in IT and Communications including in his roles as CEO of Alt Networks and Chairman of Wavenet.
Alfred Chambers, who led the transaction for Coniston and will join the board of Equity Networks commented “Coniston is pleased to partner with Equity Networks. Their innovative team has a clear focus on customer service and an ambitious buy-and-build strategy. They already have experience in acquiring and growing businesses in an attractive sector and we believe that, with Coniston’s support, Equity Networks will complete several more transactions.”
Alex Hall added “We welcome this partnership with Coniston as we enter the next stage of our growth journey. Coniston’s expertise, experience and funding will enable us to accelerate our acquisition plans, to take advantage of exciting opportunities and ultimately to better serve our customers.”
Alfred was supported by Ben Kirby and Coniston was advised on the transaction by Browne Jacobson (Mike Jackson, Matt Dorman, Sonia Bains), Crowe (Dan Nixon, Jack Sargent, Emma Reynolds and Jack Paine), CRC (Emma Hillary) and BlairWest (Chris Marshall).
Equity Networks was advised by Old Mill on Corporate Finance (Scott Hill and Mark Neath) and Barnes Roffe on Legals (Stephen Corner).
