UK - Duke Street Capital acquires 2e2 from Gresham in £130m deal

Duke Street Capital (DSC), has agreed to acquire leading IT services business 2e2 in a ТЃ130m secondary management buyout from Gresham Private Equity. 2e2, which has operations in the UK, Channel Islands, Holland and the Isle of Man, operates in a number of fast growing and highly innovative markets. It has a leading position in internet telephony and converged communications and is building scale in the data storage and security markets. In combination with its network maintenance business, 2e2 is able to offer its clients a full Managed Service based on 3-5 year contracts. Revenue for 2006 is expected to be ТЃ155m and the business has been growing organically in excess of 20% per annum.