Law firm hlw Keeble Hawson has represented the management team of ASK4 in the buy-out of the Sheffield-based internet solutions provider.
Bowmark Capital, a mid-market private equity firm, has backed the buy-out with the acquisition of the interest of ASK4’s previous institutional investor, Darwin Private Equity. The firm is investing alongside the current management team to support the company’s continued expansion.
Founded in Sheffield in 2000 by CEO Jonathan Burrows, ASK4 partners with universities, private sector student accommodation providers, residential apartment developers and businesses to provide high-speed internet solutions and managed data services for multi-tenant accommodation.
The company currently serves more than 160,000 customers across more than 400 sites in the UK and Europe.
Burrows commented: “Our growth has been built on delivering exceptional customer service and investing in strong long-term partnerships. With Bowmark’s support, we are well-positioned to continue to grow significantly in the UK and expand further into Europe, through both organic growth and targeted M&A.”
hlw Keeble Hawson corporate partner Matt Ainsworth, who worked on the deal with senior associate Michael Hall, has acted for ASK4 for the past decade.
He said: “Having witnessed ASK4’s dynamic growth and represented the management team on its first private equity investment by Darwin in 2014, it was great to be involved in this formative buyout and the potential it brings for significant future expansion.”
Bowmark partner Stephen Delaney said: “We have been tracking the company for a number of years and are delighted to have the opportunity to support Jonathan Burrows and his team as they build on the impressive growth they have achieved to date.
(Pictured: The corporate team of hlw Keeble Hawson)
