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Gresham backs UK company ICM Computer Group in £105m deal16/03/2007. Source: AltAssets. 
 UK mid-market private equity firm Gresham Private Equity is backing the MBO of ICM Computer Group, which is currently listed on the London Stock Exchange, in a 100 per cent cash offer worth £105m, subject to shareholder approval.
ICM is a UK provider of business availability services that support
organisations information systems, infrastructure and workforce combining Managed Availability services (also called managed services), High Availability and Business Continuity services.
The company's management team will be further strengthened with the introduction of a new chairman, Richard Connell, who will join the board. Connell was formerly the chairman of 2e2, the IT services provider that Gresham exited in September 2006.
Mike Henebery, managing director, Gresham, said, 'This transaction provides the funding to support the continued development of the management team's strategic plan to develop its business continuity and high availability offering in conjunction with its core managed services capacity right across the UK.'
Over the past nine years Gresham has invested in 23 support services, including backing 2e2 in a buy and build strategy, Busy Bees, Swift Technical Group, office2office, Ansa and Alstec.
Gresham specialises in investing in UK mid-market deals typically valued up to £100m and has expertise in the business and support services, consumer, financial services, healthcare/pharmaceuticals and industrial products sectors.
The firm has offices in London, Birmingham and Manchester.
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