Bowmark Capital, the mid-market private equity firm, has agreed to sell its stake in Node4, a provider of hybrid managed cloud and integrated IT solutions, to Providence Equity Partners.
The transaction also marks an exit for mid-market private equity investor LDC, which first invested in Node4 in 2013 and re-invested for a minority shareholding alongside Bowmark.
Over the past five years, Node4 has doubled its sales and profits, achieving strong organic growth through significant new customer wins and the provision of a broader range of information and communications solutions to its existing clients
Node4’s growth has been supported by three strategic acquisitions which have further enhanced the company’s technical capabilities and provided access to new vertical markets. Most recently last month Node4 acquired Starcom Technologies Limited, the MSP division of K3 Business Technologies Group (K3) – marking the largest acquisition by headcount in Node4’s history.
Node4 is now expanding its operational presence in Scotland, the North West and South East England.
Bowmark partner Stephen Delaney said: “Since 2016, Bowmark has worked closely with Node4’s chief executive Andrew Gilbert and his team to broaden the company’s product offering, enhance the business platform and accelerate growth. The exceptional quality of Node4’s people, infrastructure and technical expertise will ensure that the company continues its successful record with its new financial partner.”
Andrew Tisdale, Senior Managing Director at Providence, said: “Node4 has an outstanding management team and its core focus on exceptional service has continued to deliver impressive organic growth. Recent acquisitions and an ambitious growth plan add to Node4’s appeal as an investment opportunity.”