High performance computing business acquired in management buyout

The management team at Sheffield-based tech company OCF has acquired the business from the owners who have led it since inception in 2002.

With particular strength in the Public Sector Research sector, OCF delivers high performance computing, storage and data analytics solutions for organisations involved in digital simulation, large scale data management, AI and Analytics.

Led by managing director, Russell Slack, the three-strong MBO team will continue to pursue the company’s growth ambitions, and retain the support of founding duo, Julian Fielden and Steve Reynolds, who will remain involved in the business; Fielden as chairman and Reynolds as sales director.

Slack said: “This is hugely exciting for the new leadership team as we look to build on our pre-eminent reputation for high performance computing and data projects.

“The ongoing involvement of Julian and Steve ensures the business continues to benefit from their considerable experience.”

The former owners were advised by a team from KPMG’s Corporate Finance practice, led by Graham Pearce and Anthony Barrett.

Pearce said: “The technology sector continues its ascendance, in particular, in the area of managing and maximising data and OCF’s MBO positions the business strongly for the future.”

Julian Bond at Glaisyers provided legal advice to the owners and Andy Francey of Freeths advised the management team.