Beech Tree acquires cloud data business Redstor
Beech Tree Private Equity, the UK mid-market investor, has backed cloud data management company Redstor
22 November 2017 –
Based in Reading and with operations in South Africa, Redstor is best known for its cloud backup and recovery services. It offers both software and managed services.
The company expects to capitalise on demand driven by regulatory changes such as GDPR. Redstor says that the volume of data generated by corporates is expected to double in the next three years.
“Redstor is a leading business in this sector providing data management and backup to SMEs and enterprise customers, our investment will be used to accelerate some of the exciting products in the pipeline, such as instant restoration of data and GDPR search and management and to provide firepower to undertake acquisitions to scale-up the Redstor business,” said Beech Tree managing partner Paul Franks.
CloudOrigin CEO, Richard Hall, led the team providing Vendor Technology and Commercial Due Diligence for Redstor and latterly additional Technology Landscape research services to Beech for preparation of their finance case.
“Redstor were a fantastic client to work with and we were very pleased to help paint a detailed picture of the complex and evolving cloud backup and Disaster Recovery services marketplace to inform investors, and in particular work with Beech to build a nuanced view of their future opportunities and competitive position” commented Hall.
Redstor becomes Beech Tree’s fifth portfolio company alongside telematics business RS Connect, loan broker Fluent Money, telecoms operator Wavenet and education company Learnlight.
Beech Tree was launched by ex-Gresham Private Equity dealmakers Paul Franks and Andy Marsh in 2015. The firm has offices in Manchester and Birmingham, and closed its second fund in June at £80m.
For further details on the deal click here for Beech Tree Private Equity news site