PPM tackles Azzurri

PPM Capital, the private equity arm of Prudential, has acquired information and communication technology consultant Azzurri Communications in a £182.5 million deal.

Based in Berkshire, the group was previously backed by 3i, which paid £25 million for a majority stake in 2000.

Billing itself as a voice and data services specialist, Azzurri currently offers a range of services to its clients ranging from straight consultancy work through to network and infrastructure management. Existing clients include the likes of B&Q, Tesco and Trinity Mirror.

Employing more than 800 workers, the group is expected to grow revenues from £82 million to £104 million this year and was recently identified as being one of the UK’s fastest-growing private companies courtesy of the Sunday Times’ Profit Track 100 survey.

With PPM’s help, chief executive Martin St Quinton has high hopes for further growth.

‘We has worked closely with the Azzurri management team over the past six years to help them acquire businesses, which would, in turn, create a platform capable of generating strong organic growth,’ 3i’s Julian Davison adds. ‘And we’re delighted to hand over the baton to PPM to take Azzurri into the next logical phase of its development.’

Leslie Copeland

Leslie Copeland

Leslie was made Editor for Growth Company Investor magazine in 2000, then headed up the launch of Business XL magazine, and then became Editorial Director in 2007 for the online and print publication portfolio...

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