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Fast24 Acquired In Management Buyout

Posted: 11th Nov, 2004 By: MarkJ
UK ISP Fast24 has had a turbulent history, yet the past year has been comparatively quite. Today we learn that the provider has now been acquired in a management buyout, with Jason Elsom appointed Managing Director:

Fast24 Ltd ("Fast24") announced today that it has been acquired in a management buyout. The core of Fast24s' business is a wide range of high-speed broadband services using DSL technology, by way of BT DATASTREAM and IPSTREAM products. These are complemented with its' long established 0808/0845 Dial-up and Domain Hosting units.

The Fast24 brand was launched by Lark Computers Ltd in May 2000, but was later seperated into its' own operating company after the ISP turnover had increased to five times that of its' parent business. Fast24 has achieved growth and profitability each year since inception.

The new owners made an initial approach to the previous owners of Fast24 in April 2004, however the sale was not concluded until October. After 6 years as part of the management team Jason Elsom has now been appointed as Managing Director.

New Managing Director, Jason Elsom, said: "Since its' launch, Fast24 has seen impressive and consistant growth in customer numbers, whilst remaining profitable in an industry marred with the failure of an array of suppliers, and ISPs. The key to Fast24s' continuity has been its' ability to morph with development of internet in the UK"

"As one of our first moves we have appointed Vaughan Jackson (previously BT Broadband Sales) as our new Sales Manager. In addition we are searching for new and larger office space, and shall be commencing interviews for the new role of 'Head of Provisioning' during the course of next week (which will help us to improve our provisioning proceedures)."

"Our business has been on hold for the last six months, due to the sale negotiations, however I now intend to waste no time in bulding upon Fast24s' foundations with a review of its' product range, additional network investment, and an injection of resource into its' Customer Services Operations. I am confident that we can make numerous positive changes to the business, and really impress upon existing and potential customers the value of being a Fast24 customer.
"
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