A Travers Smith team, led by Private Equity partner James Renahan, has advised Equistone Partners Europe on the simultaneous acquisition of MDNX Group and Easynet. The combination of MDNX and Easynet will create the largest independent network and hosting integrator in Europe with the merged operations operating under the Easynet brand going forward. As part of the deal, LDC and MDNX management have also acquired a stake in the combined business.

MDNX, a managed network and cloud service provider, was formed in 2010 and now provides services to 4,000 individual business customers across the UK. The Group operates out of six data centres and three UK sites. MDNX was acquired by Equistone Partners Europe from funds managed by Kelso Place and its management.

Easynet, a hosting, cloud integration and global managed networks provider, was established in 1994, and has grown to serve some 7,600 customers globally. Easynet operates primarily in the UK and Europe but has a network across 190 countries, each supported by regional data centres. Easynet was purchased from LDC.

Unitranche debt funding provided by Highbridge and Ares was used to help finance the transaction. Barclays Bank plc has also provided a super senior facility to the combined group.

The Travers Smith team advising on the transaction included Tax partner Russell Warren, Commercial partner Dan Reavill, Banking partner Ben Davis and senior Private Equity associate Will Yates.

The shareholders of MDNX and management were advised by Michael Nouril of Proskauer Rose LLP.

Easynet and its shareholders were advised by Nick Rees of Linklaters LLP.