Sample of portfolio companies
Novaxess: successful exit after complete restructuring
Ramphastos Investments owned a majority stake in a successful and profitable internet service provider, Concepts ICT. Ramphastos saw the shift of dial-in internet to broadband internet and concluded that only those providers with their own dsl network would have significant growth potential. Interviews with market experts and competitors led Ramphastos to believe that Novaxess, a Dutch company with its own data and voice network would soon be declared bankrupt. Ramphastos also concluded that Novaxess could only survive after a severe restructuring.
When the company was declared bankrupt in July 2002, Ramphastos used its information and time advantage over many other interested parties, and acquired the assets of NXS from the bankruptcy receiver for an amount of less than 1 million Euro (partly as earn-out).
Ramphastos appointed a new management team (CEO, CFO, COO and sales director), renegotiated all major agreements with key creditors and suppliers, whilst securing as many customers as possible. The primary business processes were reinstalled, and with costs under control and increased sales the company was running profitably within a couple of months . Ramphastos subsequently acquired (customer bases from) several other distressed ISP's and migrated their customers to the NXS network and administrative systems.
In March 2004 Ramphastos sold Novaxess to UK listed company Easynet Group PLC for a purchase price of Eur 38,4 million.Contact