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Redcentric shares trading update and welcomes fresh CEO
Managed service player reveals how its latest fiscal year has shaped up as it welcomes an experienced industry player to run the business
Managed service provider (MSP) Redcentric has announced Michelle Senecal De Fonseca has taken up the reins as its CEO, ending a nine-month search for a boss.
The business has been on the hunt for a leader since Peter Brotherton announced his plans to step down from the CEO position and retire last August.
Senecal De Fonseca has been a non-executive director of Redcentric since February 2024, and was previously managing director for Vodafone’s cloud and hosting services business. Her CV includes a spell as global vice-president for strategic alliances at Citrix Systems.
“My vision is to elevate our commitment to delivering unparalleled value to our clients by enhancing our service offerings, embracing cutting-edge technologies, and fostering a culture of innovation and collaboration,” she said.
“I am dedicated to empowering our talented team to drive operational excellence, strengthen client partnerships and position Redcentric as the trusted partner for businesses navigating the complexities of the digital landscape,” said Senecal De Fonseca.
Her appointment was accompanied by a pre-close trading update that indicated the MSP had increased revenues by 4.2% to £170m. Adjusted EBITDA was also up, hitting £37m for the 12 months ended 31 March.
Recurring revenue improved by 4% to £155.1m, representing 91.2% of the group’s total revenue.
Distinct businesses
During the year, the firm split its datacentre and MSP businesses to establish two distinct ones in a move it described as essential for its future development.
The MSP business has built up a base of private and public sector customers, and eight datacentres – based in locations including London and West Yorkshire – comprise the other operation.
The business also benefited from a strong relationship with VMware. Redcentric was appointed as one of only seven strategic partners in the UK after the vendor was acquired by Broadcom. The trading update indicated that customer engagement had been positive over the course of FY25.
Richard McGuire, chairman of Redcentric, said that M&A activity over recent years had contributed to the positive numbers it was able to share for its latest financial year.
“FY25 was a transformative year for the company, a year in which it delivered significant revenue and EBITDA growth predominantly driven by prior strategic acquisitions and operational excellence,” he said. “The entire Redcentric team successfully delivered the separation of our MSP and DC divisions, and management’s resilience and focus on cost efficiency have positioned the company for continued success.”
McGuire added that the firm wanted to thank Brotherton and welcome in a fresh CEO to guide it through the next chapter. “Whilst the board joins me in welcoming Michelle to her new role as CEO, they would also like to thank Peter for his strong leadership to date, and we are pleased that he will remain with the company for a period of time as a strategic advisor and support a seamless transition of CEO duties,” he said.
“In FY26, our aim is to build on the strong foundations laid during the year, to accelerate organic growth, streamline operations and enhance returns for our shareholders,” added McGuire.
