Interoute eyes roll-up of European and U.S. cloud network firms
March 30, 2015
Grazed from Reuters. Author: Eric Auchard.
Britain’s Interoute, a high-capacity data network and corporate cloud services provider, is taking on new private equity investors to fund acquisitions across Europe and the United States, the company said on Monday. Aleph Capital Partners, a UK investment firm headed by former Goldman Sachs European private equity investment chief Hugues Lepic, and Crestview Partners, a U.S. private equity firm founded by ex-Goldman colleagues, have agreed to buy a 30 percent stake in London-based Interoute.
The value of the investment was undisclosed, but Aleph is chartered to make investments that range from 100 million to 400 million euros. The deal is expected to close in April, it said. The investment, Aleph’s first since it was set up two years ago, is a share purchase deal to buy out shareholder Emirates International Telecommunications (EIT), part of a conglomerate owned by the ruler of Dubai, which has been looking to pare debt. Privately held Interoute is majority-owned by Switzerland’s Sandoz Family Foundation…
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