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M247 acquired by Metronet UK

TLT has advised the management team at M247 Limited, a leading internet infrastructure and IT company, on its sale to Metronet (UK), the UK's fastest growing network services provider.

Following the acquisition of M247, Metronet (UK) will be able to offer a combined portfolio of connectivity and content services including wireless network services, datacentres and managed hosting solutions across the UK and Europe. 

The combined business will have EBITDA in excess of £12m, over 200 staff, three datacentres and over 13,000 customers.

The TLT team included corporate partners Stephen Devlin and Ian Roberts and corporate legal director Elizabeth Delaney. Signia Corporate Finance provided corporate finance advisory services to the management team.

TLT's Stephen Devlin said, "We were all delighted to have assisted the shareholders with this transaction and wish on-going management every success in the future as part of the Metronet (UK) group."

David Buckle, managing director at M247, said, "We have known the Metronet (UK) team for some time and feel they are a perfect fit for our business.  They are the ideal home for M247 and we are extremely excited about what the future holds for our combined businesses.”  

Stuart Lees, co- Founder of Signia Corporate Finance said, "Signia is delighted to have advised the shareholders of M247 Limited on the sale of the business to Metronet (UK). M247 has grown very rapidly from its formation in 2000 and today provides a wide range of services including managed and dedicated hosting, data security and high level IT consulting services. I am sure the enlarged group will continue to expand very successfully."

For more information, please contact Alexis Molyneux-Brand, tel. 0333 006 0712.

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