C24 acquired by Six Degrees Group

Hosting and application delivery specialists C24 has been sold to Six Degrees Group, the IT infrastructure and managed services provider, in a sale managed by international investment bank Altium.

  • 8 years ago Posted in
The West Bromwich-based business, which was founded in 2010, provides hosting and managing services, IT products, packaged software and storage as a service to medium-sized enterprises in the UK. With the business developing an excellent reputation in the marketplace, it has retained a high level of customer loyalty, resulting in a growing client base.
 
The ?6m turnover firm has demonstrated strong organic growth in the last five years, securing significant managed hosting contracts with clients in the legal, manufacturing and hospitality sector.
 
Six Degrees Group provides integrated managed data connectivity and cloud computing services to clients operating in a wide variety of sectors. C24’s low churn, high recurring turnover and high average revenue per user will provide Six Degrees with the opportunity to drive further growth from upselling and cross-selling C24 and Six Degrees products and services to the enlarged customer base. C24’s management will remain with the business under an earn out agreement.
 
Altium was appointed by C24 to run a sales process that focused on trade buyers in order to optimise available synergies and thereby maximise return for the management team. The team at Altium was led by managing director Stephen Georgiadis, with associate Declan O’Connor.
 
Stephen Georgiadis, managing director at Altium, said: “We were pleased to have helped C24’s shareholders achieve a successful exit as well as ensuring a strong and promising future for the Company as part of the Six Degrees Group. C24’s customers will be able to benefit from increased scale, financial stability and a portfolio of in-house delivered technology services that will enhance its managed services capability.”
 
On average, only 48% of digital initiatives meet or exceed business outcome targets, according to...
GPUaaS provides customers on-demand access to powerful accelerated resources for AI, machine...
TMF Group, a leading provider of critical administrative services for global businesses, turned to...
Strengthening its cloud credentials as part of its mission to champion the broader UK tech sector...
Nearly all UK IT managers surveyed (98%) state cloud investment is an organisational priority for...
LetsGetChecked is a global healthcare solutions company that provides the tools to manage health...
Node4 to the rescue.
Commvault provides cloud-first organisations with greater choice and flexibility to protect and...