kateleigh - stock.adobe.com
Managed services provider CloudCoCo has had a busy week so far, issuing a trading update and sealing an acquisition to expand its portfolio.
Hot on the heels of yesterday’s deal to pick up IDE Group Connect and Nimoveri from IDE Group Holdings to add more cloud support, managed services, connectivity and colocation datacentre capability, the firm has appointed an experienced strategic adviser.
Mark Ward, who founded UK-based technology services provider Hunter Macdonald in 2013, took that business to 500 staff globally and delivered significant growth in the first few years of the firm’s existence. A compounded annual growth rate of 273% over three years saw it recognised as the UK’s fastest-growing IT services company by the Sunday Times Tech Track in 2017.
Hunter Macdonald’s customers included the likes of Airbus Space and Defence, Rolls-Royce, Capita and Dyson. In 2017, the business joined forces with Danish outfit NetCompany to create a pan-European player.
The appointment of Ward indicates that CloudCoCo is serious about growing the company further and his brief as a strategic adviser is to work alongside CloudCoCo senior management and Nigel Redwood, strategic consultant, who is helping to advise on acquisitions and integration, to help the MSP expand even more.
Ward said he had been following the progress of CloudCoCo and was impressed by the strategy of the management team. He invested a 15.6% stake in the busines when the firm had its equity placing.
“Mark [CloudCoCO CEO] and his team have already achieved a huge amount,” he said. “However, I strongly believe this is just the beginning. I look forward to working with them on the exciting next stage of their evolution.”
Ward’s appointment comes just days after CloudCoCo issued a trading update and described its recent turnaround journey, declaring that it had gone through a “get fit” phase and was now at a “get bigger” stage.
The firm’s trading update on Monday said it had seen some orders deferred because of the pandemic, but directors were still expecting revenue to “marginally exceed” the £8m it made in the year to 30 September last year.
“It’s great to have Mark Ward on board as a strategic adviser to CloudCoCo as we enter this new stage in our evolution,” said Mark Halpin, CEO of CloudCoCo. “Mark brings with him a wealth of experience within the technology sector and has a deep understanding of how to scale a technology business rapidly and profitably.
“We are already currently in advanced discussions with new clients as a result of his connections within the industry and look forward to sharing some exciting news on this in due course.”