UK cloud provider
UKFast is preparing for an IPO, several reports suggest. UKFast, which has headquarters in Manchester, United Kingdom, was established in 1999. The company bills itself as “managed hosting, cloud and colocation specialists” and has been ranked in the UK’s Sunday Times newspaper’s ‘Best Companies to Work For’ lists over the last five years. Its customers include major enterprises like LateRooms.com.
UKFast’s services are offered through five data centers located in the Manchester area. They extend to web hosting, data center and dedicated servers, and managed hosting. The company’s ‘floatation’ – stock market listing – is expected to generate £350 million ($460 million). Reports suggest that UKFast has engaged the services of GCA Altium, a London-based global advisory-focused investment bank catering for mergers, acquisitions, and floatations.
The company’s move comes in response to a demand for its services which has made it one of the UK’s largest cloud services providers. The company now employs around 330 people and last year it enjoyed 18% revenue growth with nearly 50% profit growth. Income gained from the floatation will be used to underpin its growth plans.
“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,” explained the company’s CEO Mr. Lawrence Jones MBE in a press release. “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.”
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