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FluidOne Agrees Refinancing Deal with Pemberton to Fuel UK Growth

Tuesday, Jun 11th, 2024 (10:03 am) - Score 440
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Business focused UK broadband ISP, IT and Cloud solutions provider FluidOne has today announced that they’ve agreed a long-term refinancing package with Pemberton Asset Management (Pemberton), which will be used to fuel their “ambitious plans to treble in size over the next five years“.

The financial details of this agreement haven’t been revealed, although it is noted that the facilities will be enough to support full refinancing and is providing a committed acquisition facility. The latter will support FluidOne’s plans to acquire multiple businesses a year going forward, which is something they’ve already got some experience with.

The provider’s recent acquisitions include Computer and Network Consultants Limited (CNC) and SureCloud Cyber Services (via FluidOne’s Cyber Security Associates (CSA)). Overall, the business has conducted 8 acquisitions since 2019, and many more now seem set to follow.

Russell Horton, FluidOne CEO, said:

“It gives me great pleasure to announce our new partnership with Pemberton. To support our ambitious plans, we ran a process to seek a refinance package that would give flexibility and facilities to support us over the long term. During this competitive process Pemberton stood out as the ideal partner given how their expert team engaged to devise a tailored package to fit our requirements and due to their track record of supporting high growth, evolving businesses. We have our next acquisition in process that will be the first deployment of our new facility, and a pipeline of follow-on targets that fit our Connected Cloud Solutions strategy.”

Since investment from Livingbridge in 2019, supporting a management buyout by CEO Russell Horton, the business has quadrupled in size with revenue growing to £109m on the back of eight acquisitions whilst delivering strong customer service (NPS 89).

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Mark-Jackson
By Mark Jackson
Mark is a professional technology writer, IT consultant and computer engineer from Dorset (England), he also founded ISPreview in 1999 and enjoys analysing the latest telecoms and broadband developments. Find me on X (Twitter), Mastodon, Facebook and .
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