×

NORTHWEST TECHNOLOGY NEWS

Tuesday July 31 2018

Fast-growing British hosting firm eyes float


Firm considers growth options with possible £350m IPO



Fast-growing British hosting firm eyes float

One of the UK’s leading independently owned technology businesses today announces that it has engaged a team from global investment bank, GCA Altium, headed by their CEO, Phil Adams, to review strategic options including a potential float. 

Manchester-based hosting firm UKFast last year achieved 18% organic growth, reaching turnover of £47m. The firm has delivered +45% adjusted EBITDA margins in recent years and expects to declare a similar profit margin for 2018. 

Founder owners Lawrence and Gail Jones have appointed GCA Altium to open up funds for further growth and investment with IPO being a prime option under review.  

CEO Lawrence Jones MBE said: “We’ve given away shares in the company to loyal teammates who work incredibly hard, but we've never seriously considered selling shares before now. Timing is critical and a great deal depends on market conditions, so that’s why we’ve appointed GCA Altium.

“UKFast is now at a stage where it has strong brand equity and our products have evolved to be truly world class. Last year's 18% growth demonstrates that we're continuing to innovate and that we've got something special here.”

Last year Jones acquired public sector cloud and security specialists Secure-IA which has deep public sector and government credentials. The fast-growing public sector business is set to be rolled into UKFast’s core business in the next quarter. 

 Jones continued: “Secure-IA proved to be a fantastic acquisition for us and that area has doubled in size in the last 12 months. There are many more great technology businesses out there that complement UKFast and that we'd be interested in acquiring. An IPO gives us the funds and the clout to look at deals that are currently out of reach.

“The British hosting market is incredibly exciting and, whilst there's a lot of talk around AWS and Azure, the industry's adoption of multicloud strategies means there's a huge opportunity for British cloud providers to give the US organisations a run for their money.

“We've seen from the deals we're winning in the public sector and at government level that there’s an appetite from British organisations to deal with other British organisations. By continuing to invest in our technology and our product set, I see UKFast as being the definitive British alternative.”

Founded in 1999, UKFast has 19 years’ experience delivering hosting solutions to businesses, specialising in hybrid and private cloud solutions, dedicated servers and colocation. The firm fully owns and operates five data centres in Manchester.

Jones added: “Our EBITDA today is larger than turnover was five years ago. This fact alone tells me that the British cloud market is incredibly strong and has a bright future ahead of it.

“Without doubt, UKFast is in the best shape it has ever been.”

Jones cites his long-standing relationship with Phil Adams as the deciding factor in the appointment of Altium.



"There are many more great tech businesses out there that complement UKFast. An IPO gives us the funds and the clout to look at acquisitions that are currently out of reach "
UKFast CEO Lawrence Jones








DISCLAIMER: The statements, opinions, views and advice expressed in this article are those of the author/organisation and not of ENTIRELY. This article should represent information correct at the time of publication however whilst every care has been taken to present up-to-date and accurate information, we cannot guarantee that inaccuracies will not occur. ENTIRELY will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within this article or any information accessed through this site. The content of any organisations websites which you link to from ENTIRELY are entirely out of the control of ENTIRELY, and you proceed at your own risk. These links are provided purely for your convenience and do not imply any endorsement of or association with any products, services, content, information or materials offered by or accessible to you at the organisations site.






RECOMMENDED FOR YOU ON ENTIRELY NORTH WEST










































Room with a Hue - Bespoke Furniture


Originally specialising in bespoke radiator cabinets, the company has evolved into a fullservice cabinet maker. Daniel Kingston is a time served and highly skilled draftsperson and kitchen designer with 20 years experience. He brings a passion for perfection and a great eye for detail















Discover the latest Industry News & Opinions on Entirely














We transform your bright ideas into brilliant digital products.