British Provider UKFast Receives ‘Landmark Investment’
December 27, 2018
British provider UKFast has received what it calls a ‘landmark investment’ as the year draws to a close. UKFast is headquartered in Manchester, United Kingdom and specializes in managed hosting, cloud and colocation services. The company also offers traditional web hosting and dedicated servers. Established in 1999, it offers services through five ISO 27001 and PCI-compliant Tier-3 data centers that offer IL4 (UK Government-required) levels of security. Now one of the UK’s largest hosting providers, Inflexion’s investment brings the company’s value up to £405 million ($512 million) based on a EBITDA of £25 million ($31.6 million).
This has been a good year for the company. UKFast now boasts 5,500+ customers in the United Kingdom, predominantly SMEs. The company employs 350 staff in Manchester and the UK capital, London. This year it started ClearCloud, a new division providing integration and support for Amazon Web Services (AWS) and Azure. The company was also in the news earlier in 2018 as it was preparing for an IPO, but while the move was expected to generate £350 million ($460 million), with Brexit looming (the United Kingdom leaving the European Union) the move has apparently been put on the backburner.
"It has been widely reported about our ambitions to IPO,” explained UKFast’s CEO and co-founder, Lawrence Jones said in a press release. “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 have got an incredible reputation when they have invested pre-IPO”.
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