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Close Brothers invest in disaster recovery

Investee Company – Network Disaster Recovery, Ltd

Investee Company Country – UK

Investee Company Business Type – Provides computer system breakdown support

Type of Financing – Secondary buyout

Equity Providers – Close Brothers Private Equity

Equity Leader (Individual) –

Debt Providers – The Royal Bank of Scotland

Debt Type – N/A

Debt Leader (Individual) – N/A

Equity Amount – £5.5 million

Total Deal Value – £25 million

Other Advisors – EMW Law, KPMG, DLA

Comments – Close Brothers Private Equity announced the third investment from its Fund VI which opened last October. The fund has already raised £125 million of the targeted £200 million. The latest investment backs a secondary management buyout of Network Disaster Recovery Ltd (NDR), providing £5.5 million of a £25 million deal, with additional funding contributed by management and debt provided by The Royal Bank of Scotland.

The company, based in Birmingham and with offices in Bristol and London, was founded in 1994 after a management buyout backed by 3i. NDR provides a range of disaster recovery and business continuity services to businesses of all sizes. Services include two hour response, business recovery centre, full communications and network solutions, technical support and 16 weeks on site in the event of a disaster. The concept of disaster recovery was introduced by NDR’s management team, who estimate that 20% of companies experiencing a disaster lose more than £1 million. NDR has also been awarded Deloitte & Touche Fast 50 Awards for fastest growing IT company in two consecutive years.