BridgePoint books more than 3X return on Pulsant

BridgePoint has sold IT infrastructure provider Pulsant to Oak Hill for greater than 3X return.

BridgePoint Development Capital announced that it has sold Pulsant to Oak Hill Capital Partners for an undisclosed sum, according to a statement.  The firm will see a 3x return on the sale, which has been valued at £200 million according to sources familiar with the fund.  BridgePoint declined to comment on the transaction.

Pulsant, a provider of IT infrastructure services, has expanded its managed services offering under BridgePoint’s ownership. The company acquired Lumison in 2010, bringing its services under the Pulsant umbrella.  Other Pulsant acquisitions included co-location provider Blue Square Data, and managed services provider Dedipower. In 2012 the company further expanded operations with the acquisition of Scotland-based ScoLoate. 

The company now operates 10 data centers in six different locations across the UK, posting £43.7 million in revenues. 

BridgePoint is currently investing from its debut fund which closed on €350 million in 2012, according to Private Equity International's research and analytics division. The fund focuses on buyouts and growth capital investments in businesses with an enterprise value of between €20 million to €150 million. It usually invests between €10 million to €75 million of equity per transaction. The company is also believed to be in exclusive negotiations to take over Edmond de Rothschild Capital Partners, a private equity unit of Edmond de Rothschild Group, which has a specialization in life sciences and biotech.