Darwin acquires Ask4 in £21.5m deal

Alice Murray
27 May 2014

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Darwin Private Equity has backed the ТЃ21.5m buyout of Ask4, a provider of telecommunications services.

The transaction sees Darwin backing Ask4's management team, which is aiming to achieve organic growth in the UK and internationally.

The capital was invested from the GP's maiden fund, Darwin Private Equity, which reached its total of £217m in August 2008.

Company
Ask4 provides wifi, broadband and internet protocol television services to student accommodation buildings, private residential developments and serviced offices.

The company is headquartered in Sheffield and employs 100 people. It was founded in 2000 by Jonathan Burrows.

Ask4 provides its services to more than 100,000 users throughout the UK. It reported revenues of £10.2m in 2013.

People
Jonathan Burrows is the founder and managing director of Ask4. As part of the deal, Nick Jordan, partner of Darwin, will join the company's board.

Advisers
Company – KPMG, Christian Mayo, Dan Smith (Corporate finance); Irwin Mitchell, Matt Ainsworth, James Foster (Legal).
Equity – Grant Thornton (Corporate finance); Macfarlanes (Legal); BDO (Financial due diligence); PwC (Commercial due diligence); Deloitte (Tax).