Palatine Private Equity has exited its investment in the telecoms arm of Liverpool-headquartered MJ Quinn following a sale to a French-headquartered counterpart.
MJ Quinn specialises in the provision of a variety of telecoms services, including access network, fibre roll-out for businesses and households, and the provision of energy efficient cooling products. Palatine initially backed the secondary buyout of the business in 2008 from its maiden £100m fund.
Its telecoms division has been snapped up by Visabeira/Constructel, a major provider of network infrastructure engineering in the industry. It has operations throughout Europe and Africa.
The acquisition will provide the group with a platform for growth in the UK, after Visabeira/Constructel followed a similar model when entering the Italian and Belgian telecoms markets previously.
The existing management team of chief executive Mike Quinn, managing director Alan O’Prey and finance director Mike Orme will remain in the business. Palatine Private Equity will also continue to hold a majority stake in MJ Quinn’s rail business, which was recently rebranded as Quinn Infrastructure Services.