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Buyout firms circle £400m NCC division Escode
A pack of private equity firms are circling one of the main subsidiaries of NCC Group, the London-listed cybersecurity specialist.
Sky News has learnt that Montagu Private Equity and Bridgepoint are among the buyout firms which are interested in bidding for Escode, which specialises in software escrow and verification services. City sources said a deal for Escode could be worth between £300m and £400m, while NCC Group's entire market capitalisation on Monday afternoon was just over £440m.
Several other private equity firms are also said to be interested, although a formal auction is not under way and the identities of the other parties was unclear. Shares in NCC rose by more than 6% during the trading session amid market speculation about a takeover bid or sale of parts of the company.
The buyout firms' interest in Escode follows a string of reviews by NCC about potential disposals. In January 2024, the group said its board had "decided not to restart the strategic review of Escode at this juncture.
Amir Nisi
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