Lumison, a Edinburgh and London, UK-based provider of connectivity, hosting and managed IT services, has been acquired by Bridgepoint Development Capital for an undisclosed sum.
The transaction will allow Bridgepoint to acquire a majority stake in the company as a first step in building a larger IT services group focused on serving the SME market. In addition, HSBC will provide debt funding.
In conjunction with the investment (made by BDC I), Mark Howling, a former senior executive with Computacenter plc and CEO of a previous Bridgepoint investment in the sector, will become executive chairman of the business. He will work with the existing management team to grow the business both organically and by serial acquisition.
Established in 1995, the company today serves 2,500 organizations throughout the UK. It typically provides managed services where it acts as the outsourced partner responsible for managing clients’ IT infrastructure, hosting critical IT hardware in secure physical facilities, providing “cloud” based infrastructure services and offering network managed services, which allow them to connect securely to the internet and other locations.