Inflexion acquires Clearlake-backed Mycom OSI

The acquirer drew capital from its recently closed fifth buyout fund to support the transaction, the third deal financed by the vehicle.

Financial details of the transaction remain undisclosed, though Unquote understands the deal values the business at around $120m. Inflexion's fifth flagship fund writes equity cheques of up to £200m.

The selling shareholders also included Mycom's founder and chairperson Siamak Sarbaz, as well as company management, though the existing senior management team will continue to lead the company following the deal.

Inflexion is anticipating strong organic growth for the firm, which acquired France-based Objective Systems Integrators (OSI) in 2014, primarily driven by telecommunications companies migrating to 5G services and adopting automated products to reduce operational costs. The company will invest in product development and pursue international expansion under Inflexion's tenure.

Inflexion's investment team included Irina Hemmers, who was hired by the firm in June this year to head up its TMT team and increase the GP's focus on the sector.

Previous funding
Clearlake led a recapitalisation of Mycom in 2011, injecting additional capital to support the company's expansion plans.

Company
Founded in 1997 and headquartered in Slough, Berkshire, Mycom develops service assurance software for the telecommunications industry. Its clients include Deutsche Telekom, Safaricom, Saudi Telecom, Telefónica, Three UK, Telenor, T-Mobile, Verizon and Vodafone. Mycom has additional operations in the US, Singapore, Taiwan, India, France and Dubai, with a total headcount of around 250.

People
Inflexion Private Equity – Stuart Robinson, Irina Hemmers (partners); Jonathan Ma (investment director); Andreas Constantinides, Ravi Shah (investment executives).
Mycom OSI – Payam Taaghol (CEO); Mounir Ladki (president).

Advisers
Vendor – William Blair & Company (corporate finance); Mooreland Partners (corporate finance).

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• Topics
• Buyouts
• Exits
• UK / Ireland
• Technology
• United Kingdom
• Inflexion Private Equity
• Secondary buyout