Corporate Finance Deal Announcement: Power Internet Limited
Our corporate finance team, headed by partner Laurence Whitehead and assisted by senior associate Craig Chamberlain and senior executive Brad Agnew, advised the vendors on the sale, successfully leading and negotiating the key elements of the deal. Our team’s track record and experience were
paramount as we provided the advice needed by the vendors to enable them to take the deal forward successfully to completion. Incumbent corporate lawyers Harvey Ingram Borneos in Milton Keynes, represented by Andrew Kerr, provided legal support to the vendors.
About Powernet and Timico
Founded in 1995, Powernet is one of the oldest, independently owned ISPs in the UK. Powernet specialises in providing Wide Area Network (WAN) solutions to organisations with multiple locations, alongside internet connectivity, hosting and VoIP services. Its client base encompasses a variety of companies of all sizes.
Offering a resilient core network that spans Network Operations Centres in Milton Keynes, London and Manchester, the company deploys technology and creativity to solve real-life business problems in a variety of industry sectors. Timico is an independent internet service provider supplying business strength communications solutions.
Since being founded in 2004 the company has consistently been one of the fastest growing privately owned companies in the UK and European Tech sector. The purchase of Powernet represents Timico’s fifth acquisition in seven years and the transaction will serve to accelerate its growth plans, bringing a high quality client base and further expertise in managed IT and network solutions.
If you would like to know more about this deal or how we can assist you, your clients or your contacts who may be looking to sell, send us an online enquiry to arrange an initial no-obligation meeting.