2e2 Rescue Deal: Oakley Capital To Buy Chunk

Scores of jobs could be salvaged on Friday through a deal to rescue the data centre operations of 2e2, the collapsed IT services group.

I understand that Oakley Capital, a private equity firm headed by Peter Dubens, the technology entrepreneur, is likely to announce that it has struck a deal to acquire a chunk of 2e2's operations.

People close to the talks said that Oakley was on Thursday night poised to acquire the business and assets of the 2e2 Data Centre business owned by its parent, 2e2 Group, which fell into administration last month.

The takeover would be executed through a new special purpose vehicle called Daisy Data Centre Solutions Limited. Oakley will then appoint Daisy Group, the AIM-listed IT services provider, to manage the assets.

Oakley is a major shareholder in Daisy, which Mr Dubens also chairs.

The deal is being undertaken by the private equity firm because of the need to expedite a rapid takeover to prevent a further defection of customers.

If it does get completed, the transaction will double the amount of data centre capacity offered by Daisy.

2e2 collapsed under the weight of substantial debts and has been haemorrhaging customers in recent weeks. Hundreds of jobs have already been axed.

Daisy had walked away from talks to buy the 2e2 assets earlier in the administration process. It is unclear how much Oakley is paying for the data centres unit.

None of the parties could be reached for comment.