Lyceum Capital-backed Adapt, the independent IT managed infrastructure provider, has acquired Leeds-based cloud hosting provider Sleek.
The deal sees Adapt accelerate its organic growth by gaining more than 20 enterprise customers, a team of 20 skilled technical staff and a strategic footprint in the North of England.
The acquisition of Sleek represents the second add-on by Adapt since Lyceum backed the business in a GBP30m transaction in September 2011, following the GBP13m acquisition of eLinia, a provider of cloud computing and infrastructure outsourcing, in April 2012.
Existing Sleek customers, who already take advantage of the provider’s managed private, public and hybrid cloud models, now have the option to add further scale to their services with access to Adapt’s wider portfolio of managed services, real-time management portal (aMP) and enterprise Virtual Data Centre (eVDC) platform.
Stewart Smythe, chief executive of Adapt, says: “Both organisations deliver the highest quality infrastructure, wrapped in an exceptional support layer. Our shared vision is perfect for those organisations who see IT as a strategic asset that must contribute to their competitive advantage and bottom line.
“Sleek enhances what we already offer to customers and is a very natural fit. The acquisition broadens Adapt’s existing IaaS proposition with accessible entry-level cloud services; for Sleek it’s an opportunity to deliver scale choice to its customers without compromising on the account management and service quality that they’ve come to expect.”
Ryan McCarry, managing director at Sleek, says: “We admire the way Adapt has developed infrastructure designed to serve the needs of the mid-tier and enterprise market. It is a credible, knowledgeable provider with quality service values like our own that make it stand out in the sector and our customers are excited about the opportunity it offers. It will accelerate growth in our region, consolidate our position and further develop our reputation for quality cloud services.”
Simon Hitchcock, partner at Lyceum Capital, says: “Following the successful integration of eLinia, we are delighted to have supported Adapt in making this second acquisition in our 22 months of ownership. Sleek is an attractive business with a quality management team and operates in a fast growing niche of the hosted infrastructure market. This off market acquisition is a good example of Lyceum’s deal sourcing and buy and build model in action, and demonstrates our deep understanding of the IT managed service market.”
