| 03 July 2012
Cyber threats, consumerisation, cloud services and compliance growth fuel plan to build 50million plus company
London: Independent Managed Security Services provider SecureData, has today announced the completion of a private equity-backed management buyout (MBO) ahead of a series of acquisitions. SecureData Group Holdings (SDH), listed on the Johannesburg Stock Exchange, agreed to sell SecureData Europe to focus on its home territory of Africa.
The deal is led by managing director Etienne Greeff, sales director Matt Tomlinson and operations director Andrew Cooke with the help of independent private equity firm August Equity. August Equity invests in high growth service-orientated companies and has a committed line of funding available for SecureData to make targeted acquisitions.
Etienne Greeff, managing director of SecureData, commented, “In light of ever increasing cyber threats posed to organisations, managed security services is one of the fastest growing parts of the IT market. This investment presents an extremely exciting opportunity to create a £50m plus IT security service provider. The challenges of security are becoming more complex and our customers are looking for specialist providers of scale to assist them in solving an increasingly difficult problem.”
Keith Davidson, investment director at August Equity, said, “SecureData has strong growth potential built upon first class levels of customer service and thought leadership in the growing IT managed security market. The business has an excellent customer base of blue chip corporates and we look forward to working with Etienne and his team to continue the development of the business, both organically and through selective acquisitions.”
SecureData specialises in providing managed services that help businesses secure their data and networks, fight the increasing array of cyber threats including advanced persistent threats, drive-by installs, coordinated attacks and denial of service attacks, optimise networks to improve employee mobility, ensure regulatory compliance and allow the safe adoption of both cloud computing and consumer technologies in the workplace. SecureData has shown strong growth over the past three years and is on track to deliver around £20m of turnover for the year end July 2012.
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