GI Partners is buying a UK-based European internet and information technology services company from Bowmark Capital.
GI Partners has agreed to buy Sheffield-based ASK4 for an unspecified amount, in a deal that marks the investment firm’s first data infrastructure investment in Europe.
ASK4 provides managed internet, information, and internet-of-things services across 12 European countries.
Matt Barker, managing director and head of Europe for GI data infrastructure business said: “ASK4’s technical and service excellence is uniquely positioned to provide real estate investors and operators with market-leading services that drive retention, re-bookings and improved net operating income.”
Mark Prybutok and Brendan Scollans, co-heads of GI data infrastructure arm said: “We have tracked the development of ASK4 for many years, and our teams in Europe and the US worked closely together to execute on this investment. ASK4’s balance of high-quality contracted revenues and attractive value-add growth prospects makes it a very well-suited addition to the GI Data Infrastructure portfolio.”
Andrew Dutton, CEO of ASK4, said: “We have enjoyed a fantastic partnership with Bowmark over the last five years and we are excited about the future with GI as we continue to develop the ways we support existing clients and expand the delivery of our services into multi-tenant communities across Europe and North America.”
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