Livingbridge, one of the UK’s leading mid-market private equity investors, is pleased to announce its reinvestment in leading international connectivity and cloud provider M247, in partnership with global alternative asset manager Ares Management Corporation.
The investment is being made through Livingbridge 6 and will support M247 through the next stage of its development.
Established in Manchester in 2003, M247 has grown rapidly, both organically and through transformative acquisitions, to deliver high-speed global connectivity, cloud and managed services to corporates and SMEs across the UK and several global hubs. The combined Group, which rebranded as M247 in 2017, operates an advanced global transit network and has POPs in over 110 international countries. M247 also serves a large base of mid-market customers across the UK and has developed itself as a leading hybrid cloud provider for fast growing customers.
Since Livingbridge’s initial investment in 2014, M247 has seen strong revenue and EBITDA growth, with total revenue increasing from c.£16m to c.£65m.
Liz Jones, Livingbridge Partner, said: “M247 is a well-respected business in a large, diverse and growing market and we are delighted to be able to announce the extension of our partnership with the firm in conjunction with Ares.
“Macro industry trends such as digitalisation, data convergence and globalisation are strong drivers of cloud adoption and M247 is perfectly positioned to tap into this growing market. We look forward to continuing our highly successful partnership with the leadership team.”
Jenny Davies, Chief Executive of M247, said: “We have a fantastic longstanding relationship with Livingbridge; our joint ambition and drive has allowed the partnership to go from strength to strength.
“We are thrilled to be working with Livingbridge again, a partner that understands the unique strengths of our business, shares our vision for success and has the experience and resources to help us to achieve it.”
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Livingbridge is a mid-market private equity firm with offices in the UK, the US and Australia, investing in fast growing companies valued up to £300m.
Our team have been backing growing businesses together for twenty years. We’ve done it over a hundred times, turning many into household names both at home and abroad. We get growth.
We understand the people behind growing companies in consumer markets; healthcare and education; technology, media and telecommunications; financial services and business services, and help them achieve what’s right for them and their business.
Ares Management Corporation is a publicly traded, leading global alternative asset manager with approximately $137 billion of assets under management as of March 31, 2019 and 18 offices in the United States, Europe, Asia and Australia. Since its inception in 1997, Ares has adhered to a disciplined investment philosophy that focuses on delivering strong risk-adjusted investment returns throughout market cycles.
Ares believes each of its three distinct but complementary investment groups in Credit, Private Equity and Real Estate is a market leader based on assets under management and investment performance. Ares was built upon the fundamental principle that each group benefits from being part of the greater whole.
M247 is a global technology partner for growing businesses. We deliver solutions, networks and systems that give businesses the freedom to achieve their potential. Every service we offer is united by a focus on innovation and transformation. We’re here to help you connect with more places, serve more customers and employ more people.
Our support services are never outsourced to third parties and every M247 customer has a single point of contact – we’re here when you need us. With unrivalled service levels and a global network infrastructure, we’re here to help your business move into the future.