Deals round-up – Equanet GBP14.3 million MBO

Equanet, a Surrey, UK-based reseller of PC-based computer hardware to large and medium-sized companies and the public sector in the UK, has been the subject of a GBP14.3 million ($22.6 million)management buyout backed by F&C Ventures.

F&C Ventures has invested GBP6.3 million in equity into the business from its latest private equity fund, which closed at GBP260 million in August last year.

This is the funds fifth investment to date. Additional equity was funded by the management team, which was led by the commercial director Paul Barlow and the finance director John Milton. Debt of

GBP4 million in the transaction was provided by TSB Commercial Finance.

Legal advisers on the transaction were for institutional SJ Berwin, and Gouldens provided legal advice to TSB Commercial Finance. Reporting accountant was Horwath Clarke Whitehill.