FluidOne continues to broaden its IT managed services offering for SME with investment in project five
- Related sector Technology
- Investment status Current
- Related company FluidOne
Livingbridge is pleased to announce that its investee company,
FluidOne has acquired Project Five Ltd (“project five”).
The transaction marks FluidOne’s sixth bolt-on during Livingbridge’s tenure and follows that of Highlander Computing Solutions in January 2023. The acquisition builds on FluidOne’s strategy to invest in regional IT MSPs to create a branch network for expertly delivered localised services for its SME customers. The investment in project five has created a £30m revenue Business IT Centre of Excellence (CoE) for FluidOne, with 930 customers, 134 employees and already with 4 branch offices led from Highlander’s Sheffield headquarters.
Project five is an award-winning IT managed service provider to small and medium size local businesses across Surrey, Berkshire and Hampshire. Project five will continue to benefit from the support and innovation of the existing team, ensuring that customers benefit from local account management and engineering, with best practice and a wider services portfolio supported by centralised leadership in FluidOne’s IT CoE.
Tom Reece, Investment Director at Livingbridge comments:
“The acquisition of project five builds on the acqusition of Highlander in January 2023 and sees FluidOne continue to execute its buy and build strategy within the IT Centre of Excellence. We were particularly impressed by project five’s technical expertise and commitment to customer service. We look forward to seeing the business develop as part of the group.”
Commenting on the acquisition, FluidOne CEO, Russell Horton said:
“I am pleased to announce the acquisition of project five, that builds on our strategy to create a branch network for expertly delivered IT managed services to business customers. When reviewing the business, I was impressed with the excellent service they deliver and the strength of relationships that the team build with their clients. This was reinforced by great customer feedback in our survey and a world class NPS of 80. They are a great fit to our strategy, and I look forward to working with Steve Coburn and the team to grow the Camberley business.”