Synetrix

Deal Summary

Catalyst advised the shareholders of Synetrix on a merger and simultaneous fundraising with Equinox, a company supported by Apax Partners.

Synetrix, with operations in Keele and Maidenhead, was formed to meet the demand for supplying broadband solutions to a primarily public sector client base. A combination of rapid technological change and a buoyant public sector ensured significant growth.

What difference did we make?

Synetrix, a leading supplier of broadband services to the public sector, had seen rapid growth since it was set up in 1999. The shareholders, all active in the business, identified the need to find a strategic partner to maintain this growth in what was an increasingly competitive market. Their key issue was a desire to stay involved in the business after any deal.

Catalyst worked alongside the shareholders for eighteen months, identifying a number of different options for them, and ultimately the preferred route was to work with Equinox Converged Solutions, a company backed by Apax Partners, which has a strong strategic fit with Synetrix.

The result of this was that the two businesses joined forces and Synetrix management retained operational control and a significant equity stake in the combined business.