Fast-growing Yorkshire based telecommunications provider, ASK4, has been acquired by Darwin Private Equity in a multi-million pound deal. ASK4 specialises in providing WiFi, broadband and IPTV services to student accommodation buildings as well as private residential developments and serviced offices. The business was founded by Jonathan Burrows in 2000, employs more than 100 staff and in 2013 recorded turnover of £10.2m.

Following the deal, the business is looking to build on its rapid expansion and is targeting organic growth opportunities in the UK and international markets. The transaction was supported by acquisition finance facilities from Investec Growth & Acquisition Finance.

Jonathan Burrows said: “With demand greater than ever for reliable, high speed internet services, the timing is perfect for us to bring in external investment that will help us take the business into a new phase of growth. The team at Darwin has impressed us with its focus and understanding of our market. With its support, we are committed to developing our technology offering and continue to deliver value, innovation and quality service to our customers.”
 
Nick Jordan, partner at Darwin Private Equity, will join the board at ASK4, said: “ASK4 has transformed over the past decade to establish itself as one of the leading players in the high growth broadband and TV services market for student accommodation and other multi-tenant buildings. Having built an exceptional reputation with its customers through its focus on quality, we look forward to developing our partnership with Jonathan and the rest of the team, who are well placed to capitalise on a number of growth opportunities.”
 
Matt Ainsworth and James Foster from the Sheffield office of Irwin Mitchell advised the management team on the deal. Matt said:

Matt Ainsworth ASK4 has become a dominant player and now has a wonderful opportunity to build its market share in a number of areas here in the UK and overseas. We are delighted to have advised on this important deal and we are confident that this deal will provide a strong platform for further expansion.”

Christian Mayo and Dan Smith from KPMG’s corporate finance team in Leeds also advised the shareholders of ASK4, Darwin was advised by the corporate finance team at Grant Thornton. Due diligence was provided by BDO, PwC and Deloitte.