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.

9 years ago Posted in Cloud + MS Colocation/Hosting

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.”

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.

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