PriestleySoundy has advised private equity house Apse Capital in connection with its acquisition of a majority stake in Ultima Business Solutions (Ultima). The value of the investment has not been disclosed.
Headquartered in Reading and founded by Max McNeill, Ultima is one of the UK’s leading IT infrastructure partners with an annual turnover of £110.3m. Apse’s investment is aligned with Ultima’s move into Intelligent automation – augmenting its core infrastructure delivery. The investment will assist with the financing of selective mergers and acquisitions, extending Ultima’s reach into the cloud and managed services space.
Apse Capital is a new independent European private equity group. It specialises in buyout and development capital investment opportunities, partnering with high quality management teams to grow businesses, either organically or through acquisition. It focuses on businesses creating, delivering, transforming and/or monetising the digital economy in Europe.
PriestleySoundy has partnered with investment professionals at Apse Capital (and at previous private equity houses) for over 25 years.
Apse Capital was also advised by Kemp Little and CMS Cameron McKenna Nabarro Olswang. The UBS selling shareholders were advised by BDB Pitmans.
31st July 2019