Deals round-up: NWDC Hammers out a deal

NatWest Development Capital (NWDC) has supported Steve Easterbrook and Paul Sangster in their acquisition of Basingstoke, UK-based Hammer Distribution, a computer storage company. Easterbrook is the managing director of the firm, while Sangster is the sales and marketing director.

Equity funding of GBP12 million was provided by NWDC and the NatWest IT fund. The deal was initiated by Dhand Hatchard Davies, which acted for the management team.

Hammer specialises in the provision of solutions and products in the high-end storage market, which is experiencing rapid growth as companies increasingly store data, sound and pictures in digital format. Key suppliers include IBM and Seagate, the world’s two largest disc drive manufacturers. Hammer supports these manufacturers through its specialist knowledge and reliable distribution networks, enabling the company to service the just-in-time needs of clients.

“Developments such as the emerging and rapidly growing storage area networks and fibre channel technology underpin the strong growth prospects for our business,” maintains Easterbrook.