August Equity's SecureData acquires Quadrant

The deal is the first bolt-on acquisition for SecureData since August Equity backed the company's management buyout in July 2012 – SecureData was previously the European arm of a South African IT company. The deal was valued at less than £25m. Following the initial buyout, August Equity implemented a buy-and-build strategy for SecureData.

HSBC provided debt for the acquisition of Quadrant.

Company
Quadrant is a Surrey-based online security business. It specialises in application delivery and security services for e-commerce platforms. Its client base includes Ocado, Rightmove and Easyjet. Quadrant has active partnerships with technology companies like Microsoft, Palo Alto Networks and Exinda.

People
Keith Davidson, investment director, led the acquisition on behalf of August Equity. Etienne Greeff is managing director of SecureData. Paul Risk and Peter Ledger, both shareholders in Quadrant, will continue to hold positions in the new company upon completion of the transaction.

Advisers
Equity – Shoosmiths, Sean Wright (Legal); Grant Thornton, Mo Merali (Financial due diligence).

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