Livingbridge acquires FluidOne from Rigby Group

Financial details of the transaction remain undisclosed, though FluidOne generated underlying EBITDA of £2.4m from a turnover of £26m in the year ending in March 2018. Unquote understands that Livingbridge drew capital from its sixth flagship fund, which invests £2-40m in companies valued at £20-75m.

The business will undertake an acquisitive growth strategy under its new owners, having previously acquired OnePoint in 2016. It will also invest in marketing activity and product development.

A spokesperson for Livingbridge declined to comment on debt associated with the transaction.

Company
Founded in 2006 as Fluidata, London-headquartered FluidOne is a B2B-focused telecommunications and data hosting company. The business manages nationwide fibre network Platform One, in addition to offering internet-of-things, cloud and hosting services. Its clients predominantly operate in the construction, hospitality, hotel, professional services and retail sectors.

People
Livingbridge – Matthew Caffrey (partner).
FluidOne – Russell Horton (CEO); Hemant Patel (chief financial officer); Chris Rogers (chief operating officer, co-founder).

Advisers
Vendor – Deloitte, Darren Boocock (corporate finance); Gowling WLG, Ragi Singh (legal).

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• Topics
• Buyouts
• UK / Ireland
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• United Kingdom
• Livingbridge
• Deloitte