The investment is being made through Livingbridge 6 and will support M247 through the next stage of its development.
Established in Manchester in 2003, M247 has grown rapidly, both organically and through transformative acquisitions, to deliver high-speed global connectivity, cloud and managed services to corporates and SMEs across the UK and several global hubs. The combined Group, which rebranded as M247 in 2017, operates an advanced global transit network and has customers in over 110 international countries. M247 also serves a large base of mid-market customers across the UK and has developed itself as a leading hybrid cloud provider for fast growing customers.
Since our initial investment in 2014, M247 has seen strong revenue and EBITDA growth, with total revenue increasing from c.£12m to c.£65m.
Liz Jones, Livingbridge Partner, said: “M247 is a well-respected business in a large, diverse and growing market and we are delighted to be able to announce the extension of our partnership with the firm in conjunction with Ares.
Macro industry trends such as digitalisation, data convergence and globalisation are strong drivers of cloud adoption and M247 is perfectly positioned to tap into this growing market. We look forward to continuing our highly successful partnership with the leadership team.”
Jenny Davies, Chief Executive of M247, said: “We have a fantastic longstanding relationship with Livingbridge; our joint ambition and drive has allowed the partnership to go from strength to strength.
We are thrilled to be working with Livingbridge again, a partner that understands the unique strengths of our business, shares our vision for success and has the experience and resources to help us to achieve it.”
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