Breaking News: Livingbridge acquires data delivery network, FluidOne
28 · Feb ·2019
Livingbridge, one of the UK’s leading mid-market private equity investors, today announces the acquisition of FluidOne, a leading data connectivity aggregator, from Rigby Group plc, a parent company for a portfolio of family-owned and highly successful businesses operating across Europe and the Middle East.
FluidOne provides a range of quality data connectivity services to UK businesses across the construction, hospitality, hotels, professional services and retail sectors. The business helps its diverse and loyal customer base to securely connect any device to business-related data and applications through its unique, integrated technology platform. The market for network connectivity across IOT, Cloud and Mobile is a fragmented and growing one. As companies across all sectors recognise the need for digital transformation, FluidOne sees multiple opportunities to gain market share, not least as the fibre optic broadband network continues to roll-out across the UK. The company’s unique platform is both well-invested and scalable meaning the business is on track for both organic and acquisitive growth. It has also identified significant opportunities for cross-selling, targeted sales, marketing campaigns and new product development. The business is managed by CEO Russell Horton, CFO Hemant Patel and COO Chris Rogers (a co-founder of FluidOne) and has demonstrated strong financial growth since its inception in 2006. FluidOne has ambitious targets for the coming years, aiming to be the best quality data connectivity provider to UK businesses. The acquisition builds on Livingbridge’s significant experience in the connectivity sector with investments including M247, (the UK’s fastest growing connectivity and internet infrastructure provider), Southern Communications, (a B2B telecoms business), and Onyx, (a leading IT infrastructure provider). Matthew Caffrey, Partner at Livingbridge, said: “We are delighted to acquire FluidOne, a business which is set for significant growth, being both well-invested and poised to benefit from favourable market trends as the UK becomes increasingly digitally focused. Its integrated, automated, scalable technology platform and strong financials make it an attractive acquisition, and we are excited to take the business forward in its growth journey.” Russell Horton, CEO of FluidOne, added: “We have demonstrated impressive growth over recent years and have significant ambition for the future, so it’s very pleasing to have Livingbridge’s support as we look to exploit the numerous opportunities and develop a strong M&A pipeline in this expanding market. “Importantly, FluidOne remains the preferred communications partner for SCC and Group companies and we will continue to work closely with SCC in the delivery of services to customers.” Deloitte Corporate Finance acted as lead advisor and Gowling WLG provided legal advice to Rigby Group on the sale. ENDS
Contact FluidOne Russell Horton Chief Executive Officer firstname.lastname@example.org 020 7135 6704
Sanita Karra Marketing email@example.com 020 7135 6754