Adapt's acquisition of Sleek at odds with 'brash' buy-and-build strategies of others

Private equity-backed business Adapt has closed a second acquisition since a September 2011 buy-out.

Managed services provider Adapt has bought Sleek, a hosting company which has clients including Ordnance Survey and Pizza Express.

The acquisition comes a year after Adapt purchased eLINA, the first time that the business had used it private equity backer, Lyceum Capital, to land a buy-and-build deal.

Founded in 2011, London-headquartered Adapt has a client base including, LOVEFiLM and PKR. In 2006 the management team of the IT managed services provider led a management buy-out with help from Alcuin Capital, a firm which exited its involvement when Lyceum Capital stepped in back in 2011 through a £30 million transaction.

The purchase of Leeds-based Sleek has been made to accelerate Adapt’s organic growth, through the adding of 20 enterprise customers, as well as bolster its staff levels in the north of England.

Stewart Smythe, CEO of Adapt, says that the purchase of Sleek is the ‘opposite’ to the ‘brash’ buy-and-build efforts being made elsewhere in the IT sector.

‘Sleek enhances what we already offer to customers and is a very natural fit,’ he explains.

‘The acquisition broadens Adapt’s existing IaaS proposition with accessible entry-level cloud services; for Sleek it’s an opportunity to deliver scale choice to its customers without compromising on the account management and service quality that they’ve come to expect.’

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Smythe says that, going forward, Adapt’s mid-term growth will be organic, but that further acquisitions will not be ruled out.

Ryan McCarry, managing director at Sleek, adds, ‘We admire the way Adapt has developed infrastructure designed to serve the needs of the mid-tier and enterprise market.

‘It will accelerate growth in our region, consolidate our position and further develop our reputation for quality cloud services.’

Hunter Ruthven

Hunter Ruthven

Hunter was the Editor for from 2012 to 2014, before moving on to Caspian Media Ltd to be Editor of Real Business.

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