Managed security specialist SecureData has sealed an equity-backed MBO and revealed plans to go an an acquisition campaign as it looks to beef up its European operations.
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The MBO got the approval of SecureData Group Holdings, a South African-based parent, which opted to offload the European arm to focus on its core home market.
The deal has been headed up by managing director Etienne Greeff, sales director Matt Tomlinson and operations director Andrew Cooke with the support of private equity firm August Equity.
The private equity backer was attracted by the ambitious expansion plans in a market that SecureData described as fast growing and opportunity rich.
“In light of ever increasing cyber threats posed to organisations, managed security services is one of the fastest growing parts of the IT market," said Etienne Greeff, managing director of SecureData.
"This investment presents an extremely exciting opportunity to create a £50m plus IT security service provider. The challenges of security are becoming more complex and our customers are looking for specialist providers of scale to assist them in solving an increasingly difficult problem," he added.