GCA Altium advises UKFast on a landmark investment
Founded in 1998 by Lawrence Jones MBE and Gail Jones, Manchester-based UKFast has grown to become the UK’s largest privately-owned hosting provider. UKFast offers market-leading cloud and hosting platforms for businesses and government organisations to outsource their critical IT infrastructure. UKFast recently ventured into public cloud, providing integration and support for AWS and Azure through a new division, ClearCloud.
UKFast is known for its world-class service and has five fully-owned, tier-3 data centres. The business has a customer base of c. 6,000 companies which are served by UKFast’s 350 employees across its Manchester campus, London sales office and data centres.
The deal valued UKFast, which will continue to be majority owned and led by the founder management team, at GBP 405m based on GBP 25m EBITDA. The team was drawn to Inflexion’s experience in supporting technology businesses, local Manchester office and track record of successful IPOs. Inflexion is backing UKFast’s growth in an IT infrastructure services market worth around GBP 2bn and estimated to be growing at around 9% a year.
Phil Adams, CEO at GCA Altium, said: “It was a real privilege to work with one of the UK’s top technology companies – an amazing story of pure entrepreneurship to build a business of such scale without any external investment. We are looking forward to seeing the next chapter of the journey for Lawrence, Gail and the team with their new partners at Inflexion.”
Lawrence Jones added: “Huge thanks to the team from GCA Altium, headed up by Phil Adams. A complex deal like this can’t happen without brilliant people and I don’t believe anyone else could have done this particular deal other than Phil and his team.”