Cloud and colocation firm UKFast is on the hunt for businesses that ‘stand out of the crowd’ as it hits the acquisition trail.
Having grown UKFast organically from a two-man team in 1999 to a £20million turnover firm, CEO Lawrence Jones says now is the time to take the firm’s growth to a new level.
He said: “We have looked at other hosting providers but have never managed to find one where the mix is just right. That hasn’t stopped us looking though, and now I feel like the time is right to put a team together, dedicated to finding a company with the perfect mix for UKFast.
“I am looking for companies that stand out because of their great management teams – who our new mergers and acquisitions guys can get to know – the husband and wife teams, the family firms and the budding entrepreneurs.”
In stepping up the acquisition hunt, Jones is set to create a new team within the firm to focus solely on due diligence and getting to know business owners.
Jones said: “Our M&A team will be dedicated to this task, to getting to know the management teams and delving into the businesses so we know exactly what we are buying and not just the information that the business itself presents.”
UKFast has seen phenomenal growth in recent years and has recently launched the UK’s largest highly-available elastic cloud, which is set to help the firm reach its predicted £25million turnover by the end of the financial year.
Jones is in talks with a number of people with backgrounds in private equity and corporate finance locally and nationally to build the new team.