Intrinisic gets private equity backing in £30m MBO


Intrinisic gets private equity backing in £30m MBO

Simon Quicke

Unified comms and virtualisation reseller Intrinsic Technology has secured private equity backing for a £30m management buyout led by its current chief executive.

The move by Mike Mason to lead an MBO, which was backed by private equity player RJD Partners, was described as "the next stage in the strategic plan" as the firm looks for growth in the UC, virtualisation and cloud arenas.

Mason said that the VAR had developed a strong reputation for good service and it would be looking to grow following the MBO.

"We aim to build on this by taking advantage of both the organic growth and acquisition opportunities presented in a dynamic but fragmented market," he said.

Mason, who has a 25 year history in the channel, was singled o0ut as one of the reasons the private equity backers were prepared to invest in Intrinsic.

"The company is an innovative, leading player in an attractive market with excellent growth potential and we look forward to working with the team to fully exploit this," said Frank Bulman, partner at RJD Partners.

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