UK - Investec provides £11m follow on funding for Telinet

Investec backed the original buyout of the business by Statevine Ltd in August 2006, supplying a combined debt and minority equity funding package, and later provided a follow on investment of £8m in February 2008 to finance the joint acquisitions of technology service companies Newburn Consulting Ltd and Evolution Voice and Data Plc.

The enlarged Telinet Group has revenues of approximately £35m, with an operational profit margin in excess of 10%.

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• Topics
• Expansion
• UK / Ireland