ISIS Equity Partners has exited Quantix after the IT services provider was sold to London-based Interoute Communications for an undisclosed amount. 

ISIS Equity Partners has exited Quantix after the IT services provider was sold to London-based Interoute Communications for an undisclosed amount.

It is the sixth exit completed by ISIS so far in 2011 and brings the total amount realised by the firm to £114 million.

In March 2007, ISIS, alongside Invex Capital Partners, invested £4.8 million in Quantix, which is an IT-managed services provider, through its Baronsmead VCTs.

Quantix managing director Simon Goodenough comments, ‘We have really enjoyed having ISIS as a partner for the past four and a half years – the business has definitely benefited from having such a supportive investor.’

Formed in 2002 as a spin-out from parent company Lynx/Sphinx, Nottingham-based Quantix has more than 230 contracts and reports good growth prospects after being named Oracle Partner of the year in 2009.

Buyer Interoute are a telecommunications-cum-data centre managed services player that owns a next generation network, which has nine sub-sea landing stations across Europe.

ISIS investor Paul Morris says, ‘Interoute is an innovative company that is continually adding new service offerings to its pan-European cloud, Quantix fits perfectly with its enterprise proposition.’

The full exit yields a multiple of three-times and an investment rate of return of more than 30 per cent for the Baronsmead VCTs.