01 March 2021
Mid-market private equity investor LDC has backed the management buyout of data and network security specialist Phoenix Datacom.
The partnership with LDC will support the existing management team – led by managing director, John Carson - to expand Phoenix Datacom’s suite of hardware and software products and related services to help its enterprise customers further enhance their cyber-security. LDC’s backing will also help the team to explore complementary acquisitions.
Buckinghamshire-based Phoenix Datacom provides solutions and services to improve on-premise and cloud application performance and cyber-security for major UK organisations across a range of sectors. Established in 1984, it has a list of longstanding blue-chip clients which includes leading financial institutions, network operators, media businesses, broadcasters and public sector organisations.
The business plays a key role in helping organisations to build, validate and optimise their networks and secure their most critical information. With a range of solutions and a high degree of technical expertise, Phoenix Datacom is well placed to support major businesses in their digital transformation as they scale their networks and improve their defences against the increasing risk of cyber-attack. Over the past three years, its revenue has increased by 48% to more than £20million in the financial year ending March 2020.
“We’re seeing a high demand from organisations wanting to ensure they have cutting edge technology to scale their networks and protect against cyber-threats," said John Carson, managing director of Phoenix Datacom. "With LDC’s support we will be able to maximise this opportunity so that we can build, scale and further enhance our product and service offering. LDC’s experience of backing growing technology businesses gives us greater confidence in delivering our future growth plan.”
The investment was led by LDC investment director, Chris Morris, head of LDC in the south, Lawrence Dean, and investment executive Klara Klarowicz. The deal will also see former UK president of BT Global Services and CEO of Alternative Networks, Mark Quartermaine, join as non-executive chairman. Financial details of the investment are undisclosed.