Acquisition of Star Technology Services Ltd by Claranet Ltd

BDO.LiveSite.Deals.DealTypeTransaction Services
BDO.LiveSite.Deals.IndustryTechnology & Media

Claranet, one of Europe's leading IT managed service providers, has acquired Star, a UK provider of managed technology services. The acquisition creates the largest mid-market provider of integrated hosting and network services in the UK and continental Europe.

The enlarged group will have revenues of over £120 million, circa 700 staff, over 4,500 customers and operations in the UK, France, Germany, the Netherlands, Spain and Portugal. BDO undertook financial and tax due diligence on Claranet Ltd and the enlarged group on behalf of funding providers Royal Bank of Scotland, Ares Capital Europe and Abry Partners, as well as advising on transaction structuring and the share purchase agreement.       

"The funding for this transaction was innovative and involved parties that had not worked together before. BDO were flexible in delivering advice and reports, often having to respond to requests and bringing in experts at short notice".           

Nigel Fairhurst, CFO, Claranet