Investee Company – Attenda Ltd
Investee Company Country – UK
Investee Company Business Type – Web management hosting provider
Type of Financing – Expansion
Equity Providers – Donaldson Lufkin & Jenrette European Private Equity, Texas Pacific Group, UBS Capital and Compaq Computer Corp
Equity Leader (Individual) – Hugh Lenon, Donaldson Lufkin & Jenrette European Private Equity
Debt Providers – N/A
Debt Type – N/A
Debt Leader (Individual) – N/A
Equity Amount – £15 million
Total Deal Value – £15 million
Other Advisors – Travers Smith Braithwaite, Harbottle & Lewis and SJ Burwin
Comments – British web management hosting provider, Attenda Ltd, has secured a second round investment of £15 million from a group of UK and US investors. The deal was led by Donaldson Lufkin & Jenrette European Private Equity (part of Credit Suisse First Boston). Other investors in the round included UBS Capital, Texas Pacific Group and Compaq Computer Corporation.
DLJ also led the first external round of financing in Attenda which closed in March at £5 million. The initial investment valued the company at £35 million, a figure that has now appreciated by 88% to a current valuation of £66 million.
Attenda is the first company in Europe to offer total managed hosting, and provides a service which includes 24×7 Internet applications monitoring and management, full system administration, ongoing hardware maintenance and real-time performance and resource monitoring.
Based in Middlesex, Attenda employs over 120 staff. Since its inception in August 1999, Attenda has nurtured a client base of around 70 companies for whom it hosts and manages web applications.
Plans for the new financing include support for expansion into France and Germany early next year and to invest further in infrastructure and people. Attenda is also considering an IPO in 2001.
Hugh Lenon, a managing director of DLJ European Private Equity and a non-executive director of Attenda, said: “We have been impressed with the company’s strong vision and direction. It has shown dramatic growth to date and is well placed to lead the market going forward.”