Digital Space provides connectivity, security and hybrid cloud managed services to the UK mid-enterprise and public sector markets. Horizon Capital had owned the company, formerly known as Timico, since February 2017.
Graphite, a mid-market private equity firm, was attracted by Digital Space’s well-invested and modern services platform, its strong customer base, and the experience of the leadership team.
Following completion of the acquisition, Neil Muller, chief executive officer of Digital Space (pictured above), and his management team will continue to lead the business, with a strong focus on organic growth augmented by strategic acquisitions.
Neil Muller explained, “We are delighted to be partnering with Graphite, who share our vision and ambition. In today’s challenging economic times, we will continue to help our customers to reduce their costs and improve their productivity.
“We thank Horizon Capital for their tremendous support over the last five years and look forward to working in partnership with Graphite.”
Jeremy Hand, chairman at Horizon Capital, commented, “It's been an absolute pleasure working alongside Neil and the wider Digital Space team through its transformation into a leading digital services player. We wish everyone well on the next leg of their journey.”
Humphrey Baker, senior partner at Graphite Capital, added, “Digital Space is very well positioned to capitalise on its strategy and integrated managed service capabilities. We are delighted to support Neil and his management team during the next phase of the Company’s exciting journey.”
Digital Space was advised by Oakley Advisory and Pinsent Masons LLP. Graphite Capital was advised by Alantra and Travers Smith.