Bowmark Capital backs buy-out at ASK4
High-speed broadband and data services provider ASK4 has completed a buy-out deal backed by private equity firm Bowmark Capital.
The company was founded in Sheffield in 2000 by CEO Jonathan Burrows and currently serves over 160,000 customers across more than 400 sites in the UK and Europe.
ASK4 partners with universities, private sector student accommodation providers, residential apartment developers and businesses to provide high speed internet solutions and managed data services for multi-tenant accommodation.
Bowmark is acquiring its interest from ASK4's previous investor, Darwin Private Equity, and is investing alongside the current management team.
As well as supporting the company’s continued expansion, it will also help to accelerate the roll-out of new products and services, as well as recruit and train additional staff.
"Our growth has been built on delivering exceptional customer service and investing in strong long-term partnerships," Jonathan Burrows said.
"With Bowmark’s support, we are well-positioned to continue to grow significantly in the UK and expand further into Europe, through both organic growth and targeted M&A."
Bowmark partner Stephen Delaney added: "We have been tracking the company for a number of years and are delighted to have the opportunity to support Jonathan Burrows and his team as they build on the impressive growth they have achieved to date."
ASK4 has an ambition to double its turnover to £30m over the next five years.