Published: Mar 13, 2014
Focus:
Growth Capital
Maven is pleased to announce that it has led a £4.6m investment in IT support and services business ISN Solutions. Established in 1999, the business provides consultancy, project management and outsourced IT services to a niche client base operating in the upstream exploration and production (E&P) oil & gas sector.
ISN is led by a highly capable management team with over 40 years’ collective experience in Information Communication Technology (ICT) within E&P companies. This sector expertise has enabled the business to differentiate itself as an oil & gas specialist, and offers a distinct advantage to a blue-chip client base which requires providers that understand the constraints associated with operating in that sector.
Headquartered in London and employing around 50 people, ISN offers a range of IT services to its clients; from the day to day administration of outsourced systems, including remote monitoring and a service desk function, to much higher level strategic advisor and project management roles which often involve the design and installation of the entire ICT infrastructure.
The business has also gained a reputation for its ability to provide services to remote and hazardous field locations, which require a specialist provider that understands the IT infrastructure needed in those challenging environments and is able to deliver reliable solutions.
To date ISN has predominantly served clients based in London and South East England. However Maven’s knowledge of the global oil & gas sector, and its extensive contact base, will provide added value and a competitive edge for ISN as it looks to expand into Aberdeen’s lucrative market where Maven has a long track record of oil & gas investments.
Stella Panu, Partner at Maven, said: “Maven Capital Partners is delighted to announce the completion of a strategic investment in London based ISN Solutions Ltd, a specialist IT services provider to the Oil and Gas sector. The ISN Solutions management led by David Greenwood has been hugely successful in growing the business over the past five years, and we look forward to working with the team to help them meet and exceed their ambitious plans for the future.”
David Greenwood, Managing Director at ISN commented: “It gives me enormous pleasure to be given the opportunity to enter into a long lasting partnership with Maven Capital Partners. Our association to date has been an extremely positive one and we are certain that together we have all the ingredients to achieve our growth ambitions. This is a significant milestone in the evolution of ISN and we very much look forward to beginning this new chapter in our development.”
