REG - Oakley Capital Inv. - Oakley Capital invests in Assured Data Protection

Oakley Capital InvestmentsAnnouncement

07/10/2024 07:00

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RNS Number : 0809H  Oakley Capital Investments Limited  07 October 2024

7 October 2024

Oakley Capital Investments Limited

Oakley Capital Investments Limited(1) ("OCI") is pleased to announce that
Oakley Capital Fund V(2) ("Fund V") has agreed to acquire Assured Data
Protection ("Assured"), a Managed Services Provider ('MSP') focused on Backup,
Disaster Recovery and Cyber Resiliency as a Service.

OCI's indirect contribution to Fund V is anticipated to be c. £26 million,
which relates to OCI's share of Oakley's investment in Assured.

Further details on the transaction can be found in the below announcement from
Oakley Capital(3).

 

Oakley Capital invests in Assured Data Protection

Oakley Capital, a leading pan-European private equity investor, is pleased to
announce that Oakley Capital Fund V is investing in Assured Data Protection
('Assured'), a Managed Services Provider ('MSP') focused on Backup, Disaster
Recovery and Cyber Resiliency as a Service. The transaction is subject to
regulatory approvals.

Founded in Leeds, UK and Virginia, US in 2016 by serial tech entrepreneur
Simon Chappell and four co-founders, Assured uses Rubrik software and
Assured's own proprietary software platform to provide mission-critical backup
and disaster recovery services for companies globally. Assured enhances its
customers' cyber resilience by protecting their data and ensuring business
continuity, with near-zero server recovery time in the event of a significant
IT failure or cyber-attack.

Assured operates in a high growth segment of the disaster recovery space which
is expected to expand almost 5x over the next five years, as companies' data
architecture becomes more complex and as the prevalence and severity of cyber
threats grows. Rubrik, the technology Assured leverages, provides a next
generation software solution that is growing rapidly as it displaces legacy
providers.

Assured has generated consistently high double-digit growth with almost 100%
recurring revenues and low customer churn thanks to growing demand for its
products and services. Oakley will support Assured's management team to
capitalise on strong growth in its underlying markets including the US, with a
focus on providing the required capital and organisational structures to
enable sustained organic growth. Given Assured's significant hosting
infrastructure, this is also an opportunity to leverage Oakley's extensive
hosting experience. The five co-founders including Simon Chappell will remain
invested in Assured and will continue to manage the business.

 

This will be Oakley's seventh new investment announced or completed in 2024,
extending a period of significant activity for the Firm, and continuing a
strategy of partnering with exceptional founders. It also follows recent
investments in software businesses including cybersecurity provider I-TRACING
(Fund V), logistics and transport SaaS provider Alerce (Origin I), medical
software business Horizons Optical (Origin I) and broadband open access
platform vitroconnect (Origin II).

Oakley Capital co-Founder and Managing Partner Peter Dubens said: "This is a
rare opportunity to invest behind a proven team that has built a business that
will benefit from several structural tailwinds and has an attractive business
model that is differentiated and scalable.  Assured is an IT services
business with strong organic growth and recurring revenues, genuine IP, and
led by exceptional founders. We're pleased to be partnering with Simon and his
team as they leverage the significant opportunities in a fast-growing market."

Assured CEO and Founder Simon Chappell said: "More and more companies are
having to strengthen their IT and data systems in the face of increased cyber
and ransomware attacks that can cripple operations. Assured is well-placed to
help mitigate these risks as the partner of choice for small and medium-sized
enterprises. We were looking for a genuine partner that could help us scale
our business and were impressed by Oakley's track record of helping build
€1bn+ global industry leaders and equally the firm's entrepreneurial ethos
and approach. We look forward to working with the team to further strengthen
Assured's market-leading position."

- ends -

 

For further information please contact:

Oakley Capital Limited

+44 20 7766 6900

Steven Tredget

Greenbrook Communications Limited

+44 20 7952 2000

Rob White / Michael Russell

Deutsche Numis (Financial Adviser & Broker)

+44 20 7260 1000

Nathan Brown / Matt Goss

 

Notes:

LEI Number: 213800KW6MZUK12CQ815

(1) About Oakley Capital Investments Limited ("OCI")

OCI is a Specialist Fund Segment ("SFS") traded investment vehicle that aims
to provide shareholders with consistent long-term capital growth in excess of
the FTSE All-Share Index by providing liquid access to private equity returns
through investment in the Oakley Funds.

A video introduction to OCI is available at
https://oakleycapitalinvestments.com/videos/.
(https://oakleycapitalinvestments.com/videos/) The contents of the OCI website
are not incorporated into, and do not form part of, this announcement.

(2) The Oakley Funds

Oakley Capital Private Equity II, Oakley Capital Private Equity III, Oakley
Capital IV, Oakley Capital V, Oakley Capital Origin Fund and Oakley Capital
Origin II, are unlisted lower-mid to mid-market private equity funds that aim
to provide investors with significant long-term capital appreciation. The
investment strategy of the Funds is to focus on buy-out opportunities in
industries with the potential for growth, consolidation and performance
improvement. The Oakley family of funds also includes Oakley PROfounders Fund
III and Oakley Touring Venture Fund, which are venture capital funds focused
on investments in entrepreneur-led, disruptive, technology led companies.

(3) Oakley Capital, the Investment Adviser

Founded in 2002, Oakley Capital Limited has demonstrated the repeated ability
to source attractive growth assets at attractive prices. To do this it relies
on its sector and regional expertise, its ability to tackle transaction
complexity and its deal generating entrepreneur network.

For more information on the Oakley Fund strategies in which OCI invests,
please click here.
(https://www.oakleycapitalinvestments.com/what-we-invest-in/investment-strategies/)

Important information

Specialist Fund Segment securities are not admitted to the Official List of
the Financial Conduct Authority. Therefore, the Company has not been required
to satisfy the eligibility criteria for admission to listing on the Official
List and is not required to comply with the Financial Conduct Authority's
Listing Rules.

The Specialist Fund Segment is intended for institutional, professional,
professionally advised and knowledgeable investors who understand, or who have
been advised of, the potential risk from investing in companies admitted to
the Specialist Fund Segment.

This announcement may include "forward-looking statements". These
forward-looking statements are statements regarding the Company's objectives,
intentions, beliefs or current expectations with respect to, amongst other
things, the Company's financial position, business strategy, results of
operations, liquidity, prospects and growth. Forward-looking statements are
subject to risks and uncertainties because they relate to events and depend on
circumstances that may or may not occur in the future.  Accordingly the
Company's actual future financial results, operational performance and
achievements may differ materially from those expressed in, or implied by, the
statements. Given these uncertainties, prospective investors are cautioned not
to place any undue reliance on such forward-looking statements, which speak
only as at the date of this announcement. The Company expressly disclaims any
obligation or undertaking to update or revise any forward-looking statements
contained herein to reflect actual results or any change in the Company's
expectations with regard to them or any change in events, conditions or
circumstances on which any such statements are based unless required to do so
by the Financial Services and Markets Act 2000, the Listing Rules or
Prospectus Regulation Rules of the Financial Conduct Authority or other
applicable laws, regulations or rules.

 

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