FSI completes Private Equity double in two months with roles in the sale of XLN Telecom and Euroffice

Mon, 01 Nov 2010

XLN Telecom

FSI (Corporate Partner Paul Glassberg) advised Group CEO Christian Nellemann, Ernst & Young 2010 UK Entrepreneur of the year for Business Products and Services, on the sale of XLN Telecom Holdings Limited by way of a secondary buy-out to ECI Partners LLP for an undisclosed sum. XLN is a leader in the provision of telecoms to the SME sector. Funds managed by Zeus Private Equity exited in full leaving the company’s founder Christian Nellemann in place as the Group CEO going forward.

Euroffice

FSI advised the shareholders of Euroffice including the fund managed by Private Equity House Net Partners, the founders, friends and family investors and management, on the sale by way of a management buy-out, to funds managed by Darwin Private Equity LLP. The consideration is undisclosed. Euroffice is the UK’s leading online provider of office products to the SME sector. Co-founder George Karibian stays on as non-executive Chairman and incumbent CEO Simon Drakeford also remains in place. FSI’s team was led by Corporate Partner Paul Glassberg assisted by Corporate Solicitor.

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