Cloudy FluidOne wants to triple in size over the next five years and has just raised the cash to do so.
The outfit has secured a long-term refinancing deal with Pemberton Asset Management to back the comprehensive refinancing and is offering a dedicated acquisition facility.
This will supply funding for future strategic add-on acquisitions and bolster the channel partner’s intention to purchase several businesses annually.
In March, FluidOne CEO Russell Horton announced that the connected cloud solutions provider wanted to buy four companies annually to reach its target of a £300 million turnover.
This follows a busy 2023; it completed three acquisitions, including Computer and Network Consultants, Project Five, and Highlander Computing.
The company said that during its competitive process, Pemberton emerged as the perfect ally, thanks to its specialist team’s commitment to crafting a bespoke package that suits our needs and their history of fostering rapidly growing, dynamic enterprises.
The company said that it is currently finalising our next acquisition, which will mark the inaugural use of our new facility, and it has a succession of prospective targets aligned with its connected cloud solutions strategy.
Livingbridge partner Simon Hollingsworth said: “The fresh debt facility delivers the magnitude and adaptability we desired to back FluidOne’s forthcoming growth stage in a vibrant market.
“Since the investment, Russell and his team have been pursuing a strategy of developing essential capabilities in the most valuable, cutting-edge product ranges, positioning FluidOne as the premier UK IT and cyber managed service provider.
“We’re now confident that we possess the necessary value-adding capabilities to execute this across various customer groups and market sectors, establishing FluidOne as a distinguished and superior enterprise.”
