August Equity backs MBO of SecureData Europe

August Equity investment director Keith Davidson commented that the market for IT security is driven by increasing cyber threats, consumerisation of IT, the use of employees' private devices within companies and growing regulatory compliance. He praised the company for its strong recurring revenue model and solid platform for selective bolt-on acquisitions.

The GP, together with management, is aiming to see SecureData Europe’s turnover ultimately exceed the £50m mark.

Company
SecureData provides data and network security solutions to corporate customers. Headquartered in Maidstone, UK, it expects a £20m turnover for the 2011/12 financial year.

People
Investment director Keith Davidson worked on the deal for August Equity. Etienne Greeff is managing director of SecureData.

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