UKFast poised to buy following strong results
Article date: Mon, 02 Jun 2008 14:07 GMT
Leading dedicated hosting company UKFast has revealed that it is ready to enter the acquisition market to compliment its ambitious growth plans for 2008, with other hosting companies and data centres on its list of targets.
In 2007, UKFast increased turnover to £4.2m to deliver an impressive £1.45m pre-tax profit. The company remains cash rich with no creditors hiding in the cupboard, so the sound financials are in place to go on the acquisition path.
The Manchester technology firm has taken the decision to boost its groundswell through purchasing a complimentary business or pre-existing technical facilities.
UKFast's senior management, headed by MD Lawrence Jones, is focused on finding a complimentary outfit that will underpin the company's successful and on-going business plan. This includes investing in local talent and facilities and targeting a growth to £25m turnover by 2010.
Key partners for an acquisition move are fitting into place and UKFast is currently in talks with a number of financial institutions about putting together a war chest to take to the market.
“Thanks to an award winning vision and the dedicated hard work of all UKFast staff, we are in the enviable position of being able to reinvest in our successful formula through external acquisitions,” Lawrence commented.
“While our business models will result in significant organic growth this year regardless of other developments, we feel the time is right to take this major step.”
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