DWF LLP has advised Capita on its acquisition of Electranet, a leading supplier for the design, delivery and support of highly secure network and communication infrastructure in the UK, for a cash consideration of £37m on a cash-free, debt-free basis.
Electranet runs one of the UK's few commercial sites that is approved to hold UK government protectively marked information, allowing it to support secure government projects.
Electranet will join Capita's IT Enterprise Services division, as it supports high profile government and private sector customers that require secure and effective networking and communication solutions. It handles highly secure data and is approved to sponsor its own workforce through national security vetting processes, such as the Counter-Terrorist Check and Developed Vetting.
Palatine Private Equity invested in Electranet in 2008 as part of a management buyout. This acquisition will see the private equity house exit the business.