Onyx is a leading provider of cloud, co-location, remote and on-site IT management, workplace recovery, applications management and security solutions. Onyx provided UK data centres, cloud security backup and IT infrastructure to some of the world’s biggest businesses including Sage, Edinburgh Airport and Bond Dickinson. Livingbridge invested in the business in 2011 to fund strategic acquisitions, expanding Onyx’s geographical footprint and its ability to provide wider ‘on the doorstep’ services to existing customers. The successful acquisition and integration of Knowledge IT was strategically important to driving value on exit.
Growing through strategic acquisition
- The company executive team was strengthened with the appointment of former B2B telecommunications group MD as chief financial officer, and the appointment of a chairman, an operations director and director of sales and marketing
- Strategic acquisitions included technology firm Knowledge IT
- By 2015 Onyx had achieved overall revenue growth of 34%, with turnover standing at £28.3m.
- Sold to Pulsant, one of the UK’s largest data centre providers, in 2016, creating a very strong UK wide player. Neil Stephenson, CEO said, “Both businesses have complementary capabilities and locations, and this acquisition enables the enlarged business to offer a stronger, broader range of services to our joint customers”
“We have enjoyed working with the Livingbridge team over the past five years and thank them for all of their help and support during this period in the group’s development.”
Neil Stephenson, CEO, Onyx
Onyx Group established
Newcastle data centre opens
Edinburgh data centre opens
Livingbridge invests in Onyx Group
Sheffield data centre opens
£10m acquisition of tech firm Knowledge IT
Livingbridge announces sale of Onyx to Pulsant, one of the UK’s largest data centre providers