Manchester cloud hosting powerhouse UKFast is on the rise thanks to their latest investment deal.
If anyone in Manchester had a good past year, it was UKFast. From winning a This Is Manchester award to CEO Lawrence Jones being named one of AMAGAZINE’s 10 Most Influential Mancunians, the cloud hosting company are taking it to the next level. To round off their epically successful financial year, UKFast bagged themselves a killer investment deal that’s set to see the business skyrocket.
The company are a classic story of Northerners doing things themselves. UKFast started in a bedroom with £5,000 twenty years ago and are now one of Manchesters biggest companies. Today, UKFast has a customer base of 5,500 UK SME clients and 200 mid-sized companies, which are served by 350 employees across Manchester and London sites.
The landmark investment from Inflexion Private Equity is the perfect next step for the Manchester firm. The investment is being made by Inflexion’s dedicated minority investment fund, Partnership Capital, with the firm buying a 30% stake. The deal sees the business valued at a whopping £405 million.
CEO Lawrence Jones said, “It has been widely reported about our ambitions to IPO. 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.”
“The Inflexion team have 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.”
Managing Partner of Inflexion, Simon Turner added “UKFast has proven itself as a market leader, with its Manchester campus and data centres being testament to the business’ dedication to service excellence and technical performance.
“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.”
UKFast are proving themselves to be a Manchester powerhouse time and time again. Looks like it’s onwards and upwards for them in 2019!
Find out more at ukfast.co.uk.