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Damovo Group Announces the Sale of its European and UK Businesses - Oakley Capital acquires Damovo Europe Matthew Riley appointed Executive Chairman - OakleyCapital.com / Damovo.com
Damovo Group Announces the Sale of its European and UK Businesses

 

PRZOOM - /newswire/ - Horsham, West Sussex, United Kingdom, 2015/01/30 - Oakley Capital acquires Damovo Europe Matthew Riley appointed Executive Chairman - OakleyCapital.com / Damovo.com.

   
 
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Oakley Capital is pleased to announce that Oakley Capital Private Equity II ("Fund II") has acquired a significant majority of the shares in the European companies owned and operated by Damovo II Sarl. Matthew Riley, founder of Daisy Group, will be investing alongside Fund II and will lead the businesses as Executive Chairman.
The companies acquired are specifically: Damovo’s operations in Germany, Ireland, Switzerland, Poland, Belgium and Damovo’s Global Services business (collectively “Damovo Europe”).

Damovo Europe (damovo.com) is a provider of enterprise information communication technology (ICT) services and solutions. Its core areas of expertise are Unified Communications and Collaboration (UCC: IP-enabled voice communications, email exchange services, messaging, voicemail, audio, web and video conferencing etc), enterprise networks, contact centres, cloud services and global managed services. Damovo Europe employs 271 people across its 14 locations in continental Europe.
Both Oakley Capital’s funds have a well-established track record in the UCC and adjacent sectors through its investments in Daisy Group, Host Europe Group and intergenia, investments that generated returns of 35 times, 2.4 times and 2.5 times, respectively for Oakley’s funds.

The particular attractions of investing in Damovo Europe include:

• Managed services revenue making up 50% of revenues, with a strategy to increase this proportion going forward;
• A reputation for delivering exceptional customer satisfaction;
• The opportunity for significant revenue and margin growth through investment and economies of scale;
• The opportunity to back a strong and experienced management team (led by Matthew Riley) in a European roll-up strategy, replicating the success of Daisy Group;
• It is well positioned to take advantage of ICT market growth, particularly within UCC.

Commenting on the acquisition, Rebecca Gibson, Partner of Oakley Capital said today: “Damovo Europe is already very well established in a number of European markets and the fact that the worldwide Unified Communications market is expected to be worth in excess of $75Bn by 2020 with significant growth expected to come from within Europe, makes Damovo Europe an obvious choice to add to Oakley’s portfolio. I am particularly pleased that Matthew Riley will be investing alongside us and will be Executive Chairman. He has an exceptional record of valuation creation in the sector.”

Matthew Riley, Executive Chairman of Damovo Europe, added: “The growth opportunity in Unified Communications over the coming 3-5 years is significant and Damovo Europe is perfectly positioned to materially grow its share of this expanding market. It is an organisation that customers believe delivers high-quality communications solutions to its customers and I am personally very excited about the future for the company.”

Contact: Peter Dubens (Director) - Oakley Capital Limited
P: +44(0)20 7766 6900

Ed Bridges / Emily Desmier - FTI Consulting, LLP
P: +44(0)20 3727 1000

About Oakley Capital Private Equity
Oakley Capital Private Equity II (“Fund II”) (oakleycapital.com) is an unlisted mid-market private equity fund with the aim of providing investors with significant long term capital appreciation. The Fund's investment strategy is to focus on buy-out opportunities in industries with the potential for growth, consolidation and performance improvement. The Fund seeks to invest in companies with scale in their industry subsectors, thereby creating a sustainable earnings stream which should command a premium on exit.

Fund II is advised by Oakley Capital Limited, a privately owned asset management and financial advisory business with over $1 billion of assets under management which has a focus on investing in the telecoms, IT and media space.

 
 
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Agency / Source: Damovo | Daisy Group plc

 
 

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Damovo Group Announces the Sale of its European and UK Businesses

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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Damovo | Daisy Group plc securities in any jurisdiction including any other companies listed or named in this release.

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