Synova Capital's CloudXL completes debt refinancing

The refinancing was arranged by Clydesdale Bank. Synova acquired CloudXL, formerly Actimax, in April 2011 and funded the additional acquisitions of Universal Office Automation and Network Resource Group with an additional £15m. The initial acquistion of Actimax was an all-equity deal, which is now being leveraged.

Company
CloudXL is a London-based provider of cloud computing and infrastructure services. The company caters to around 1,200 clients, most of which are SMEs.

CloudXL was created in 2011 through the merger of Actimax, Universal Office Automation and Network Resource Group. The company employs around 100 people and has revenues of £20m.

People
Philip Shapiro, managing partner of Synova and director of CloudXL, was responsible for the refinancing operation.

Advisers
Equity - Clearwater Corporate Finance, Chris Smith, James Dykes (Corporate finance). 

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Now researching
• UK / Ireland
• Technology
• Restructuring
• Synova Capital
• Refinancing