THE PRIVATE equity arm of
Metronet is a business-only internet services provider, which was founded in 2003 and has expanded into
"Over the past two years, we have worked hard to support Metronet's growth aspirations as it capitalises on rapidly developing networking technology and demand for connectivity," LDC's north-west cohead
"Our investment has provided tangible, transformative change, which has helped to establish the business as a leader in the
The fresh funds provided by Isis - which was founded in 1995 - will be used to boost the fast growing group's expansion into other regions of the
The investment was the fifth deal from ISIS' fund, which raised £360m from investors 2012 to go and spend. Isis had previously backed companies like fashion retailer Bon Marche and online bike shop Wiggle.
Metronet boss Elliott said: "Metronet is entering a very exciting phase of growth and we have some major plans to invest in the network over the coming years to support geographic expansion. The investment from Isis will help us realise our ambition to build Metronet into the country's leading B2B internet service provider."
Revenue has almost doubled since LDC took a stake in 2012, the group added.
BEHIND THE DEAL OAKLEY CAPITAL CF |
LDC and the management team were advised by
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