- ASK4 provides managed internet, IT and IoT services for multi-tenant buildings
- Bowmark invested in ASK4 in February 2018
- Since Bowmark’s acquisition, ASK4 has more than doubled its revenue and profits
Bowmark Capital has agreed to sell ASK4, an in-building internet connectivity provider to the multi-tenant real estate sector, to GI Partners, an investor in critical data infrastructure businesses. ASK4 will be GI Partners’ first data infrastructure investment in Europe.
Based in Sheffield in England, ASK4 operates across 12 European countries and supports over 320,000 customers.
Since Bowmark’s secondary buyout of ASK4 in 2018, the company has more than doubled its revenue and profits, according to a press statement. ASK4 has also expanded into new verticals, including residential build-to-rent and senior living markets.
“ASK4’s core proposition is the delivery of fully managed Wi-Fi connectivity within multi-tenant buildings serving students, working professionals and people in retirement,” said Matt Barker, managing director and head of Europe for GI Data Infrastructure. “ASK4’s technical and service excellence is uniquely positioned to provide real estate investors and operators with market leading services that drive retention, re-bookings and improved net operating income.”
GI Partners is a private investment firm with over 150 employees and offices in San Francisco, New York, Dallas, Chicago, Greenwich, Scottsdale, and London. The firm has raised more than $41 billion in capital.
London-based Bowmark Capital is an investment firm specialising in UK growth companies valued at up to £300 million.