Home Market UKFast mulls £350m float to fuel rapid growth

UKFast mulls £350m float to fuel rapid growth

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Rapidly growing tech firm UKFast is eyeing up a potential IPO in order to help fund further acquisitions.

It has approached the global investment bank, GCA Altium, to review its strategic options, with an estimated £350m float one of the prime considerations.

The Manchester-based company, which was founded in 1999 by Lawrence and Gail Jones, specialises in the provision of web hosting services, both for other companies and the public sector.

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Chief executive Lawrence Jones MBE said: “Weve given away shares in the company to loyal teammates who work incredibly hard, but we've never seriously considered selling shares before now.

“Last year's 18 per cent growth demonstrates that we're continuing to innovate and that we've got something special here. Timing is critical and a great deal depends on market conditions, so thats why weve appointed GCA Altium.”

UKFast acquired public sector cloud and security specialists Secure-IA last year, expanding their access to government contracts.

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The company, which employs 325 people, provides dedicated servers, cloud services and colocation to more than 5,000 government, public sector and commercial organisations. Turner was recorded at £47m.

However, the firm is eager to pursue more growth opportunities.

“There are many more great technology businesses out there that complement UKFast and that we'd be interested in acquiring. An IPO gives us the funds and the clout to look at deals that are currently out of reach,” Lawrence Jones added.

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