SMS service company Esendex led a buyout worth GBP 11 million, private equity firm Darwin's first investment in 2013.
Esendex, founded by Adam Bird and Julian Hucker in 2001, is a Nottingham-based company which specialises in provinding SMS services to companies. Their services are reputed to allow for efficient communication with employees, strengthen customer service and increase overall performance efficiency.
Esendex is currently being utilized by 6,500 companies and businesses around the world including brands such as Addison Lee, Ocado and Virgin Media.
New investor Darwin is a private equity firm established by Derek Elliott, Jonathan Kaye and Kevin Street in March 2007. The firm has closed eight investments to date with companies such as Bromford Industries, Plum Baby and Maximuscle.
Esendex Chief Executive Officer Geoff Love led the deal and will be joined by former CEO and co-founder of MettingZone Tim Duffy as the new chairman.
"We are delighted that we have found a partner in Darwin who will continue to develop the business and we look forward to supporting Esendex in the next phase of its development," remarked Hucker and Bird concerning the management buyout (MBO).
Both co-founders will continue acting as consultants for the company despite realising their stakes in Esendex through the MBO.
Join the Conversation