YFM-backed DSP acquires Explorer

The deal, which included working capital provided by Santander Growth Finance, was not supported with fresh equity from YFM.

YFM invested £5.3m in DSP in 2018 to fund its £10m MBO led by CEO Simon Goodenough, making it the sixth investment from YFM’s Buyout Fund I. It has grown revenues to £10m.

Bringing together the two businesses is expected to broaden DSP’s data infrastructure capabilities to provide a wider range of consultancy and managed service offerings. Both organisations will continue to operate in the UK database technology and cloud and managed services market under their own brand names.

Explorer founder Ian Thomason will join the board of DSP, with Goodenough becoming group CEO. The combined group will continue to operate from DSP’s three offices, and Explorer’s Leeds head office. The deal is expected to see DSP boost group revenues to more than £20m, and provide a further platform for both organic and acquisitive growth.

Company
Based in Leeds, Explorer is an Oracle platinum partner with around 50 staff and provides database and infrastructure services, particularly in the field of Oracle Engineered Systems and Cloud at Customer. The company was founded in 1995.

People
YFM Equity Partners - Eamon Nolan (partner).

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