LDC-backed Node4 buys LETN

Amy King
06 August 2014

Tweet
Facebook
LinkedIn
Google plus
Send to

Derby-headquartered Node4, a data centre backed by LDC, has acquired cloud infrastructure company LETN Solutions.

LDC provided capital to support the transaction, which forms part of LDC's acquisitive growth strategy for the business.

The acquisition extends Node4's portfolio of cloud-based solutions and enhances its infrastructure-as-a-service (IaaS), disaster recovery and virtualisation offering.

Previous funding
In 2013, LDC backed the management buyout of Node4. The deal was supported by a senior debt package and growth capital expenditure facilities, both provided by RBS, according to unquote" data. Deal value was understood to stand at around €25m.

LDC made a number of non-executive appointments to Node4's board as part of the deal. The company's existing managing director and co-founder, Andrew Gilbert, retained a significant stake.

LDC had been building a relationship with Gilbert over the three years preceding the deal. Node4's rapid growth since its launch and its position in the marketplace attracted LDC to the business.

Company
Based in Reading, LETN Solutions is a cloud infrastructure business that provides management support, proefssional services and hosted IT services to UK clients. The business was founded in 2005.

People
John Green is investment director at LDC.