Latest AddOn Computer Peripherals News
Dec 13, 2017
Wed, 13/12/2017 - 10:20 Inflexion Private Equity has created Halo Technology (Halo), a global vendor of optical transceivers by combining ProLabs, a UK-based business backed by Inflexion in June, with AddOn Computer Peripherals, a California-based business acquired in a transaction backed by Inflexion in November. Operating under the Halo umbrella will allow ProLabs and AddOn to retain their existing brands while benefitting from synergies gained through the alliance. The combined group employs approx 150 people. Halo is the world’s leading third party optical transceivers business serving blue-chip customers from its supply facilities and sales offices in the US, Europe and Asia. The market for this is estimated to be worth USD6bn globally and is growing at 10 per cent per annum as faster and higher-capacity networks are rolled out to accommodate increasing demand for data. Halo is unique in this market given its constituent business’ complementary customer bases, product offerings and geographic focus. The group will focus on strengthening its technical capability and international expansion utilising Inflexion’s track record of acquisitive growth to scale in a fragmented market. Management can draw on Inflexion’s rich TMT experience, with recent investments including My Policy, K2 Partnering Solutions, Outdoor Plus and Group IMD. Tim Smallbone, Head of Enterprise, Inflexion, says: “We are very excited to have created the Halo Technology group within six months of partnering with ProLabs. This transaction demonstrates the capacity of our Enterprise Fund to provide the firepower to support transformative transactions and create market leading businesses. With over 50 bolt-on acquisitions completed this year, Inflexion is well placed to assess the market for further suitable opportunities for Halo.” Stewart Holness, Executive Chairman of Halo, says: “We are looking forward to working with the Inflexion team to continue to optimise our supply chain and grow internationally. We were impressed with Inflexion’s track record in this space, and believe that the firm’s presence in Asia and South America, as well as its digital capability will be very valuable as we scale the business. We are confident that Inflexion’s support can help us to cement our global market leadership position with a diverse customer base across the telecoms carrier and reseller markets.” The Inflexion deal team comprised of Tim Smallbone, Jonathan Ma and Abhishek Majumdar. Jonathan and Abhishek sit on the Halo board.