UKFast to create M&A team to seek takeover targets

AMBITIOUS cloud computing and data centre operator UK Fast is recruiting for a specialist mergers and acquisitions team to identify and implement corporate deals.

The privately-owned Manchester company says it is in talks with a number of private equity and corporate finance professionals from firms in this region and nationally with a view to making appointments soon.

Founder and chief executive Lawrence Jones 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.”
 
UKFast, which recently moved its headquarters from City Tower to a new base in Hulme, says its M&A team will focus solely on due diligence and getting to know business owners.
 
Mr Jones added: “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.”
 
The company is expecting its annual turnover to climb from £20m to £25m this year.