MXC Capital to provide debt funding for 365 ITMS management buy-out
Source - SMW
Technology investor MXC Capital said it had provided £3m of debt funding to support the management buy-out of 365 ITMS.
365 was acquired by IDE in April 2017 and offered data centre, network, security and cloud services.
MXC was currently the company's largest shareholder with a 43.1% stake.
The loan had a term of three years and a 12% interest rate per annum
In addition, MXC would be paid an arrangement fee of £75,000 in relation to the transaction.
At 9:32am: (LON:MXCP) MXC Capital Plc share price was 0p at 1.33p