Former SCC offshoot Fluid One makes first acquisition under new owner
PE-backed network aggregator completes deal to purchase PSU Business Technology
Former Rigby Group business FluidOne has acquired PSU Business Technology.
PSU was established over 30 years ago and is a 6m-revenue business. It specialises in managed services, Mitel unified comms, connectivity and mobile and telecoms services. It is based in Cheltenham and has a headcount of 38. FluidO
ne is a “network aggregator” headed by CEO Russell Horton. It was sold by Rigby Group last year to private equity house Livingbridge, which has given it a “war chest” to support its MA plans and scale up over the next four years. PSU marks its first acquisition under Livingbridge. “Our vision at FluidOne is to become the best quality connected cloud solutions provider to UK businesses,” stated Horton. “Taking our market-leading connectivity services, delivered via our national fibre network Platform One, our strategy is to acquire quality businesses with skills in IT Services, unified communications and advanced security, and combine these with connectivity to help customers create multi-cloud and multi-connected environments that are secure and simple for them to use, whilst delivering a fantastic customer experience from end-user to application. “The initial lockdown delayed our plans and I am very pleased that we were able to carry out detailed due diligence and a joint business planning exercise whilst working remotely. “The customer and staff interviews reinforced what a high-quality business PSU is, with a strong solution set and staff who build great customer relationships and go the extra mile to solve their customer’s problems. I am excited to be working with Nigel Davies and the PSU team to invest in and grow as our centre of expertise for IT services and unified communications, cross-selling into the FluidOne customer base.” Nigel Davies, PSU managing director, added: “Like FluidOne, PSU is rooted in delivering a high-quality service and strong customer engagements via a loyal, expert team. Russell and the FluidOne board have ambitious plans and I am delighted that the PSU team’s skills and services are an excellent fit. “When Russell approached me about the potential of acquiring PSU, it was clear that this partnership would be a real boost for PSU, providing greater opportunity for growth, investment and career development than we would have had alone.”
Author: marian.mchugh@incisivemedia.com(Marian McHugh)
Date: 2020-11-06
URL: https://www.channelweb.co.uk/news/4022923/former-scc-offshoot-fluid-makes-acquisition-owner
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