Rawlison Butler LLP is pleased to announce the completion of the management buy-out of SecureData Europe from SecureData Group Holdings, listed on the Johannesburg Stock Exchange.
SecureData, founded in 1992 and headquartered in Maidstone, Kent, is the UK’s largest independent IT security integrator with over 2,500 blue-chip customers across Europe, Africa and the US. SecureData has shown strong growth over the past three years and is looking to deliver around £20m of turnover for its 2012 financial year, ending in July.
The Management team, led by managing director Etienne Greeff and sales director Matt Tomlinson were introduced to Tim Sadka and Andrew Hawkins of Rawlison Butler by Meta Corporate Finance. Andrew Cook also joined the Management team who received private equity backing from August Equity and banking facilities from HSBC with committed funding to pursue a strategy to build a £50m IT security services provider by acquisition.
SecureData specialises in the provision of managed security services which help businesses optimise networks to adequately safeguard their data, enable regulatory compliance, improve employee mobility, and allow the safe adoption of both cloud computing and consumer technologies in the workplace. Managing director, Etienne Greeff, explained, "In light of the ever increasing cyber threats posed to organisations, Managed Security Services is one of the fastest growing parts of the IT market. Security challenges are becoming increasingly complex and our customers require specialist providers of scale to assist them in solving an increasingly difficult problem."
Mark Ledger-Beadell, for Meta adds “ The pragmatic approach of the management and its funders will stand the business in good stead as it embarks on its next phase of growth.”
Commenting on Rawlison Butler’s involvement, Greeff adds “The Management team were pleased to be introduced to Rawlison Butler and who worked in close collaboration with Meta. Rawlison Butler’s delivery was timely, efficient, and committed. With their transaction experience Rawlison Butler’s involvement proved invaluable in a transaction which was anything but straight forward. Receiving focused and clear legal advice, enabled the Management team to anticipate and remain on top of issues. Tim, Andrew and their colleagues went the extra mile for us and I would recommend them to any management team looking for robust advice, delivered sensibly and with an ever present focus on the end objective.”
Tim Sadka comments for Rawlison Butler “It was a pleasure to have the opportunity to support the Management team, and to be part of a transaction, which now gives Etienne, Matt and Andrew the opportunity to move SecureData on from the MBO as SecureData enters a new phase in its development.”
Rawlison Butler – Tim Sadka & Andrew Hawkins
Meta Corporate Finance – Mark Ledger-Beadell & James Lawson
Mike Bell – Tax Consulting Solutions
Shoosmiths – Sean Wright & Gareth Davies
SecureData Group Holdings
PWC – Coolin Desai
Thomas Eggar – Matthew Newman & Charles Frank
For more information on this or any other services offered by the Corporate Team, please contact Tim Sadka by emailing Tim or by calling him on 08450 990045, or speak to your usual contact in the Corporate Team.