7th Oct 2024 11:40
(Clarifies that Assured was acquired by Oakley Capital Fund V, with the participation of Oakley Capital Investments.)
(Alliance News) - Oakley Capital Investments Ltd on Monday said it has taken part in the acquisition of Leeds, West Yorkshire-based data protection provider, Assured Data Protection Ltd, by Oakley Capital Fund V.
Oakley Capital Investments provides access to the private equity investments of manager Oakley Capital.
Oakley Capital plans to support Assured in capitalising on strong growth in underlying markets, including the US, where Assured operates from the state of Virginia. Assured is a managed services provider focused on disaster recovery and cyber resiliency.
Oakley Capital Investments expects to make an about GBP26 million indirect contribution to Fund V, which relates to its share of the investment in Assured.
Oakley Capital noted that Assured consistently generates high double-digit growth, with almost 100% recurring revenue as well as low customer churn as a result of growing demand.
Oakley Capital Co-Founder & Managing Partner Peter Dubens said: "This is a rare opportunity to invest behind a proven team that has built a business that will benefit from several structural tailwinds and has an attractive business model that is differentiated and scalable. Assured is an IT services business with strong organic growth and recurring revenues, genuine IP and led by exceptional founders."
The five co-founders of Assured will remain invested in the company and continue to manage the business.
This will be Oakley Capital Investments' seventh new investment in 2024, following recent investments in software businesses such as cybersecurity provider I-Tracing, logistics & transport software-as-a-service provider Alerce, medical software business Horizons Optical Slu, and broadband open access platform vitroconnect GmbH.
Shares in Oakley Capital Investments were 0.2% lower at 510.90 pence each in London on Monday morning.
By Emily Parsons, Alliance News reporter
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