Bowmark exits investment in ASK4 to GI Partners

ASK4 provides managed Internet, IT and IoT services for multi-tenant buildings. Operating across 12 European countries and supporting over 320,000 customers, ASK4 is the European leader in the provision of essential managed connectivity to purpose-built accommodation, serving students, working professionals and people in retirement.

Since Bowmark supported the secondary buyout of ASK4 in 2018, the company has more than doubled its revenue and profits. As a result of continued investment over recent years, the company has successfully expanded into new geographies and new adjacent verticals, including the residential Build-to-Rent and Senior Living markets. It has also expanded its capabilities in managed IT solutions, IoT and ESG building monitoring services.

Andrew Dutton, CEO of ASK4, said: “We have had a fantastic partnership with Bowmark and, with their support, we have solidified our leading position in our core markets and strategically expanded into new segments. We are now well-placed to continue to develop the ways we support existing clients and expand the delivery of our services into multi-tenant communities across Europe and North America.”

Stephen Delaney, partner at Bowmark, commented: “We are proud to have worked alongside the ASK4 management team and to have helped them develop the business and achieve their growth ambitions over the last five years. ASK4 is now well-positioned to expand beyond Europe, and GI Partners will be a great partner for the company in its next stage of growth.”