Lyceum’s Adapt gets Sleek

The add-on acquisition will further Adapt's customer offering of infrastructure as a service (IaaS) with entry-level cloud services.

The deal follows Adapt's £13m acquisition of Welsh services solutions provider Elinia in April last year.

Lyceum initially backed Adapt with £30m in October 2011.

Company
Leeds-based Sleek was established in 2005. The founders initially designed and implemented hosting platforms, MPLS networks and data-centre services in the UK.

Sleek is a hosting service provider with a focus on delivering high-availability cloud-hosting environments to a range of companies across the UK.

People
Stewart Smythe is CEO of Adapt and Ryan McCarry is managing director at Sleek. Simon Hitchcock is a partner at Lyceum and worked on the deal.

Advisers
Equity – RPC, David Marshall (Legal); Latitude, Steve Hacking (Commercial due diligence); PwC, Jonathan Cooper (Financial due diligence).

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• Topics
• Portfolio management
• Technology
• UK / Ireland
• Horizon Capital (formerly Lyceum Capital)
• United Kingdom