Ultima Business Solutions | Stephens

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Back to transactions

Ultima Business Solutions

€30 Million 07/19/2021 Internet of Things Complete
Financial Sponsors
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Transaction Details

  • On 19 July 2021, Ultima Business Solutions (“Ultima”), a portfolio company of Apse Capital (“Apse”), completed the refinancing of its debt facilities with funds provided by Apera Asset Management (“Apera”)
  • Apse acquired a majority stake in Ultima in August 2019 with ambitious plans for growth including selective acquisitions. In April 2021 Ultima completed its first acquisition, Just After Midnight (“JAM”), a UK-based cloud services provider to digital businesses
  • Proceeds from the refinancing will be used to refinance existing indebtedness and support further acquisitions

About the company

Ultima Business Solutions
Established in 1990, Ultima is an automation and IT infrastructure service provider, specialising in end user computing, automation, mobility, cloud, datacentre, networking & security, and messaging & collaboration. Ultima’s aim is to become a long-term, trusted, intelligent transformation partner to its clients by delivering high value business outcomes through technical innovation and service excellence for every client. www.ultima.com Twitter: @UltimaBusiness

Apse Capital
Apse Capital is a London-based private equity firm that specialises in backing tech-enabled B2B information and services businesses in high-growth sectors across Europe. Apse Capital was co-founded by Tim Green, Ashley Long and Vikram Krishna, who have worked together over sixteen years, have 80 years of combined private equity experience and over the last five years have completed a total of 29 transactions in tech-enabled businesses, with an aggregate EV of €1.8bn. Apse Capital typically backs fast growing European SMEs with EV of €50-200m. www.apsecapital.com

Apera Asset Management
Apera is a pan-European mid-market private debt investor operating in the UK, the DACH region, the Nordic region, France and Benelux. The firm develops long-term partnerships with private equity investors, SME borrowers, and advisors by providing tailored financial solutions that meet both the operational needs and growth objectives of clients, whilst producing attractive returns. Apera is focused on bringing a new standard of transparency to the private debt market.

Sources: Company materials and press announcements
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