Livingbridge-backed FluidOne is on a roll with organic revenue up 11% year-on-year from £26m to £28.8m and underlying EBITDA up by 33% from £2.4m to £3.2m.
Its year end results to 1st March 2019 also showed an annual customer retention of 96% and coincided with news that FluidOne has agreed a new debt facility with an unnamed bank to drive acquisitions.
FluidOne CEO Russell Horton said: "Livingbridge’s decision to invest in FluidOne alongside the management team has had a transformative impact on our ability to build market share in a fast growing market.
“We are in pole position to scale up the company as the market for network connectivity across fibre, copper, IoT, cloud and mobile continues to expand.”
Matthew Caffrey, Partner at Livingbridge, added: “The new debt facility, coupled with our financial support, provides FluidOne with the acquisition funding required to support its growth plans.
"The company is positioned to take a leading role in consolidating a highly fragmented market that is rich in opportunity as companies accelerate their digital transformation journeys.”