Timico Technology Group Limited has sold a majority stake to Lyceum Capital Partners LLP
Lincoln International (“Lincoln”), a leading global mid-market investment bank, is delighted to have represented the shareholders of Timico Technology Group Limited (“Timico”) on the sale of a majority stake in the business to Lyceum Capital Partners LLP (“Lyceum”) in a deal valued at over £50 million.
Founded in 2004, Timico is a market-leading managed cloud service provider. Timico’s success stems from both organic growth and strategic acquisitions, and today, the Company supports the U.K. and international needs of over 15,000 clients from its three U.K.-based locations in Newark, Winnersh and London. Timico’s 10 Gbps MPLS core network enables the secure delivery of applications and data to clients’ office, retail and homeworker locations. Timico operates a Tier 3+ data centre which supports the delivery of a range of IT, cloud and hosting solutions. It is also a fully licensed mobile service provider for the O2 and Vodafone networks.
The transaction will enable Timico to accelerate its ambitious plans for growth with further investment in systems, people and capability to create the leading cloud service provider to U.K. corporates. Lyceum will also help finance selective acquisitions designed to extend Timico’s reach into the managed services arena.
Lincoln acted as the exclusive financial advisor to the shareholders of Timico, working closely with the management team. Lincoln provided guidance on strategic options, prepared the Company for investment, managed the transaction process and negotiated price and transaction terms.
Tim Radford, Founder of Timico, said, “The Lincoln team really understood our business and what we wanted to achieve, and worked tirelessly to achieve a premium outcome for shareholders and establish an exciting platform for the next stage in Timico’s journey.”
Ben Marnham, CEO at Timico, said, “It was a pleasure working with the Lincoln team who successfully guided the Company through the transaction process that has resulted in us bringing on board a private equity investor in Lyceum who have significant experience in the IT managed services market. I am delighted that we can now accelerate our internal development and selective acquisition strategy.”
Chris Brooks, U.K. Head of Lincoln’s Technology and Media team, commented, “It has been very rewarding to work alongside Timico’s founders and management throughout the review of its options and this transaction that provides liquidity for shareholders and secures an excellent partner to support the Company’s future growth. As Lincoln builds its Technology and Media practice globally, we look forward to working with other companies with exciting growth profiles.”
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