Finance Wales sells Unite Technologies
Finance Wales has exited data centre solutions provider Unite Technologies in a trade sale to US infrastructure solutions manufacturer Panduit Corporation.
The GP reaped a 2.4x return on its total investment. The sale marks Finance Wales's largest equity realisation to date.
Previous funding
Finance Wales has invested in three funding rounds for Unite, with the most recent occurring in 2010 when the GP provided £700,000 in debt and equity.
Company
Unite Technologies was founded in 2007 through the merger of Comrac Ltd and Sinetica Corporation. Unite specialises in energy management, access control, security and environmental monitoring services within data centres. The firm aims to help businesses reduce their energy consumption and carbon emissions.
Unite has a turnover of £7m and has a client base in the financial, telecoms, broadcast and retail sectors.
People
James Henderson is a portfolio executive at Finance Wales. Bill Anthony is a portfolio director.
Advisers
Vendor – PricewaterhouseCoopers (Corporate finance); Eversheds (Legal).
Company – Berry Smith (Legal).
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