Business focused UK ISP FluidOne (Rigby Group plc), which are perhaps best known for their broadband and mobile network aggregation solutions (Platform One), has today been acquired by mid-market private equity investor firm Livingbridge for an undisclosed sum.
The acquisition builds on Livingbridge’s existing experience in the connectivity sector with investments including M247 (another UK connectivity and internet infrastructure provider), Southern Communications (a B2B telecoms business) and Onyx (an IT infrastructure provider).
Apparently FluidOne sees multiple opportunities to gain market share, not least as the fibre optic broadband network continues to roll-out across the UK, and Livingbridge may be able to help support that.
Russell Horton, CEO of FluidOne, said:
“We have demonstrated impressive growth over recent years and have significant ambition for the future, so it’s very pleasing to have Livingbridge’s support as we look to exploit the numerous opportunities and develop a strong M&A pipeline in this expanding market.
Importantly, FluidOne remains the preferred communications partner for SCC and Group companies and we will continue to work closely with SCC in the delivery of services to customers.”
Matthew Caffrey, Partner at Livingbridge, said:
“We are delighted to acquire FluidOne, a business which is set for significant growth, being both well-invested and poised to benefit from favourable market trends as the UK becomes increasingly digitally focused. Its integrated, automated, scalable technology platform and strong financials make it an attractive acquisition, and we are excited to take the business forward in its growth journey.”