Oak Hill Capital Partners recently announced it is working to finalize an agreement to acquire Pulsant from Bridgepoint Development Capital. The more than $343 million deal is unconditional and both parties expect to have arrangements completed within weeks. Oak Hill Capital Partners' current investments in IT services includes ViaWest and Intermedia.net.
The growing demand for third-party cloud hosting and managed data services from small and medium-sized businesses has benefited Pulsant, which has seen its market share grow. Pulsant's services are currently provided from the U.K. data center network the company operates across the region, connected by Pulsant's fiber network.
"We expect continued significant consolidation amongst suppliers in this dynamic market and we believe Pulsant is well-positioned to expand its leadership position by executing on targeted acquisitions, bringing additional capabilities to benefit Pulsant and its customers," said Pulsant CEO Mark Howling. He added that the Oak Hill was the best choice of partner for Pulsant due to the company's vast industry experience and knowledge of the European IT markets.
