Isis backs MBO of Red Box

The new funding will be used to further expand the company's profile in overseas markets, with a focus on the US and Asia Pacific. Red Box will also use the investment to provide further support to its reseller distribution strategy.

The investment is the first from the Isis V fund, which launched in February 2012 with a £300m target and closed last April on £360m.

Isis typically invests £2-40m of equity per company. It targets businesses based in the UK that have an enterprise value of between £5-100m and record profits of at least £1m.

Company
Red Box was founded by Iain Worthington and Andrew Jackson in 1998. It is headquartered in Nottingham, with additional offices in New York, Singapore, Hong Kong and Dubai.

The company develops voice and data recording software for the public sector, contact centres and financial services. Its products provide data retrieval, playback and event logging for businesses as well as a simplified storage system for data and analytics.

The company recorded sales of £5.1m in 2010, a 38% annual increase on its £1.9m turnover in 2007.

People
Lee Jones led the management buyout for Red Box. Jones was formerly COO of the company and is now CEO following the buyout. Daniel Smith, a partner at Isis, led the deal for the GP.

Advisers
Company – Cavendish Corporate Finance, Joe Stelzer (Corporate finance).

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