Investec Private Bank finances MBO of NWP Spectrum led by Young Associates

Investec Private Banks Growth Finance unit has funded the 12.5 million buyout of NWP Spectrum, led by Young Associates, the private investment firm headed by Lord Young of Graffham.

London, UK (PRWEB) July 4, 2004 -Investec Private Bank finances MBO of NWP Spectrum led by Young Associates

Investec Private Banks Growth Finance unit has funded the 12.5 million buyout of NWP Spectrum, led by Young Associates, the private investment firm headed by Lord Young of Graffham.

NWP Spectrum, which has been renamed Spectrum Interactive, is a leading independent provider of communications services via payphones, internet access and other interactive terminals. The company operates in the UK and Germany and provides managed payphone and public internet services through its portfolio of over 8,000 sites. Spectrum Interactive is now extending its interactive services to include WiFi capability for laptop and PDA users, as well as leveraging its portfolio to offer other new generation technology-based services.

Lord Young, Chairman of Young Associates, said We are very pleased to team up with Spectrum Interactives management and Investec Growth Finance to develop an exciting array of services for Spectrum Interactive. With its strong existing foothold in high-traffic locations such as airports, hotels and shopping centres, the company is ideally poised to exploit the growing market for offering interactive services to an increasingly mobile population."

Mark Lewarne, CEO of Spectrum Interactive, said "This is a terrific development for the company which will help us broaden our growth strategy and continue with the expansion of the business both in the UK and Germany. We recognised in Young Associates and Investec Growth Finance the ability and experience we needed to assist the company through this exciting growth phase. Management is looking forward to the challenge ahead."

Martin Kaplan, of Investec Growth Finance, said This deal emphasises Investecs ability to back experienced industry executives in high profile transactions and is another example of the range of growth opportunities we offer our entrepreneurial private clients."

Financial due diligence was provided by Julia Newton and Martin Pierce of Deloitte in Southampton and Reading.

Investec Growth Finance focuses on providing an integrated equity and debt finance solution to assist entrepreneurs, management teams and private equity houses to implement acquisition and organic growth strategies in lower mid-market companies.

Investec Growth Finance is part of Investec Private Bank. The private bank operates out of London, the Channel Islands, Switzerland and Ireland, as well as South Africa and Australia, offering both onshore and offshore services. Its focus is on six core activities: treasury and banking services, specialised lending, structured property finance, investment management, trust and fiduciary services, and growth finance.

Investec Private Bank is a division of Investec Bank (UK) Limited. Authorised and regulated by the Financial Services Authority and a member of the London Stock Exchange.

Young Associates is a private investment firm headed by Lord Young of Graffham. Lord Young, who also chairs Pixology, the AIM-listed digital imaging software company, is well known as a prominent former politician, having served in the UK Government in the 1980s as Secretary of State for Employment and Secretary of State for Trade and Industry. He was also the Executive Chairman of Cable and Wireless from 1990 to 1995.

Spectrum Interactive is a Communications company specialising in Payphones and Internet Access Services. Based in Hemel Hempstead (UK) and Hamburg (Germany) the company employs over 100 people and has successfully developed a large roster of private site clients for its products and services. Whilst being particularly strong in the travel sector (BAA, Deutsche Bahn and London Underground being just three of many customers) Spectrum also operates in such diverse sectors as hotels, universities, hospitals and shopping centres. The company also operates a Public Call Box estate in the UK which is increasingly being used by large advertising agencies for national and local campaigns.

For further information please contact:
Investec Private Bank
Martin Kaplan 020 7597 4451
Leon Blitz 020 7597 4201
Antonia Kerr 020 7597 4740

Spectrum Interactive
Lucas Vigilante 01442 205524

Citigate Dewe Rogerson 020 7638 9571
Simon Rigby
Patrick Evans
Alistair Kellie

Deloitte
Julia Newton 02380 354231
Martin Pierce 0118 3 222460