Deal Mechanic: Adapt reprogrammed

Deal Mechanic: Adapt reprogrammed


By the time Lyceum Capital exited cloud-hosting business Adapt, the company had undergone a metamorphosis.

When UK mid-market firm Lyceum Capital acquired Adapt in September 2011 for an enterprise value of £30 million ($37 million; €35 million), its goal was to transform the London-based colocation data centre business into one that offered managed cloud services (MCS) at higher values and margins.

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