Friday, May 14, 2021

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Modern Networks: Receives GBP£40M Investment

  • Modern Networks, a UK-based provider of IT Managed Services and Connectivity to the Real Estate and Construction industry, received a £40m investment from Horizon Capital
  • Alongside Horizon Capitals investment, debt finance for the acquisition and a committed facility for acquisitions has been provided by specialist SME lender DunPort Capital Management
  • The company intends to use the funds to pursue acquisitions alongside its organic growth within the commercial sector and also in adjacent sectors
  • Modern Networks provides IT Support, connectivity and communications in an integrated solution to over 2,000 sites across the UK
  • From its support centre in Hitchin, the company delivers a 24/7 service to users and serves a number of the largest commercial property managers in the UK
  • Reeve will joined by Chairman Lee Shorten, who was previously UK MD of Avaya and Acquisitions Director Andy Roberts, formerly CEO of Horizon portfolio company Sabio

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