RJD Partners, a UK middle market private equity investor, has backed the £30m buyout of Intrinsic Technology Limited, a Haydock, Lancashire-based provider of IT and unified communications solutions and services.
The transaction has been funded through a combination of management re-investment, led by the company’s CEO Mike Mason, along with his operational team, equity investment from funds managed by RJD, and debt facilities provided by HSBC.
Founder and majority shareholder Allan Gauld will also retain an equity stake in the business.
Founded in 1999, Intrinsic designs, supplies and implements voice, data and virtualized environments and provides ongoing contracted maintenance and managed services for a range of customers in both the private and public sectors. The company has offices in the City of London, Thames Valley, Glasgow and Haydock, and over 50 field-based engineers.
Intrinsic has developed strategic alliances and tier 1 accreditations with major players including Cisco, Avaya, Microsoft and HP. The company currently employs over 125 staff.
Frank Bulman, Partner, RJD Partners, will join the company’s board.