Livingbridge's Metronet bolts on Venus

The bolt-on comes five months after Metronet acquired internet infrastructure and hosting company M247 for £47.5m.

The latest acquisition is expected to strengthen the group's presence in the London market and will add six data centres to its network. It will also bring its consolidated revenues of around £50m.

Following the deal, Metronet will have a headcount of 230 across six locations, including London, Manchester, Newcastle and Bucharest. It will have a client base of around 34,000 customers in 92 countries.

Livingbridge acquired Metronet from LDC in a £45m tertiary buyout in June 2014. The GP is invested in the company via its fifth fund, which closed on £360m in 2012.

Company
Founded in 2005 and headquartered in London, Venus is a provider of fibre-optic broadband to businesses across central London, offering speeds of up to 10 gigabits per second. It generates revenues of £7.8m, according to a statement issued by the GP, with clients in the design, media, broadcast and financial services sectors.

People
Livingbridge – Matthew Caffrey (partner).
Metronet – Lee Perkins (CEO).
Venus Business Communications – Brian Iddon (director, founder).

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