One of the UK’s leading specialist IT and communications consultancies has undergone a partial disposal of the company, allowing for a new investment of £4.6 million.
London-based ISN Solutions Limited provide global IT infrastructure services to the oil and gas sector and has welcomed investment from private equity investors Maven Capital Partners LLP.
ISN’s management team has been advised on the deal by CV Capital LLP, the corporate finance arm of accountancy firm and business advisers Chantrey Vellacott.
The deal has involved one of the three co-founders of ISN selling their shareholding and exiting the company.
ISN was formed in 1999 off the back of the founders’ IT experience working in the oil and gas sector and has resulted in the company having a competitive edge when servicing client operations in hard-to-reach and hazardous areas.
The firm has enjoyed strong growth in recent years and revenue has grown to nearly £6 million.
Jamie Johnson, director of corporate finance at CV Capital, said: “ISN Solutions Limited is a very niche operation, which has longevity, strong growth prospects and an ambitious management team at the helm, so is a perfect private equity investee company.
“Maven Capital Partners LLP has the relevant sector knowledge and experience to see the commercial benefits of this deal and we’re confident this will be a great partnership.”
David Greenwood, managing director of ISN Solutions Limited, said the management team was pleased to finalise the deal and is looking forward to working with Maven Capital Partners LLP to continue the growth of the business.
He added: “CV Capital has been instrumental in us achieving this milestone.
“They diligently took the time to understand our business and the ambitions of the management team ensuring our interests were maintained throughout the process. This was very much a team effort.”
Stella Panu, partner at Maven Capital Partners, added: “On behalf of Maven I would like to extend my thanks to both Jamie Johnson and Chris Edward from CV Capital who have worked tirelessly and diligently to facilitate Maven’s investment into ISN.
“Jamie and Chris both played important roles in negotiating and structuring the deal to deliver the optimal outcome for all parties involved.
“We are now looking forward to David Greenwood and his team continuing with the success they have demonstrated to date and helping them achieve their ambitions for the future.”
Fladgate LLP provided legal support to the management team on the deal.
