UKFast, a fast-growing hosting provider from the UK with 350 employees across its Manchester campus, London sales office and data centers, has announced a 30% stake acquisition UKFast by Inflexion Private Equity. After expectations about the company to be worth upwards of £350M last summer, the deal now sees the hosting provider from Manchester valued at £405 million (based on £25 million EBITDA).
UKFast has five fully owned data centers, all ISO 27001 certified, PCI-compliant and secured to UK government IL4 standards. The company has a customer base of 5,500 UK SME clients and 200 mid-sized companies.
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“It has been widely reported about our ambitions to IPO,” said Lawrence Jones, CEO and co-founder of UKFast. “After spending time in the City meeting fund managers I learned that it is incredibly important to align yourself with people who’ve got experience in areas that you don’t. When Inflexion threw their hat into the ring, alongside several others, there was an immediate connection. The Inflexion team has got an incredible reputation when they have invested pre-IPO. That reputation, coupled with their team headed up by Carl Wormald and Irina Hemmers is something that gives us great confidence for the future.”
“Growing a successful business is all about people,” added Mr. Jones. “I am so proud of my management team and everyone who works at UKFast, when you think that they’ve grown this business from a spare bedroom in Manchester to where it is now. What’s even more incredible is the potential we have to take UKFast to new heights.”
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Founded in 1999, UKFast has 19 years’ experience in delivering hosting solutions to businesses, specializing in hybrid and private cloud solutions, dedicated servers and colocation. The firm fully owns and operates five data centers in Manchester. The family of businesses owned by founders Lawrence and Gail Jones employs 450 people with 350 across its Manchester campus. UKFast is one of the largest independently owned hosting providers in the UK, having a current revenue run-rate of more than £50 million and posting £47 million turnover in 2017.
“UKFast has proven itself as a market leader, with its Manchester campus and data centers being testament to the business’s dedication to service excellence and technical performance,” said Simon Turner, Managing Partner of Inflexion. “Acknowledging the industry’s increasing appetite for public cloud, UKFast‘s management launched ClearCloud in 2018, thereby enhancing its offering to existing clients as well as opening the door to new ones. We look forward to working with management to accelerate growth.”