200 degrees - adobe
FluidOne keeps focus on growth with fresh CFO
Channel player is working to an ambitious plan to increase the size of the business, and has kicked off the year with a significant hire
Secure cloud player FluidOne has indicated that it’s starting 2025 with its foot remaining steadfastly on the growth pedal.
The channel player spent 2024 using M&A to expand the business, and refinance back in June, with the ambition to treble in size.
Since the firm underwent a management buyout, led by CEO Russell Horton and backed by Livingbridge six years ago, the business has quadrupled in size to revenues of £113m, and transformed the focus from a channel player specialising in communications and connectivity into an IT and security-led managed service provider.
The firm now enjoys a revenue mix that is over 50% IT and security, and recurring revenues of over 70%.
Entering the firm against this backdrop is Graham Dickie, who becomes its latest chief financial officer. Dickie comes with a CV that stretches over two decades, and includes experience restructuring and expanding businesses, as well as working with private equity.
Those attributes are going to be useful as FluidOne continues to look for significant growth in 2025 and beyond.
Horton said the appointment was an important part of the strategy over the next five years. “I am delighted to welcome Graham to FluidOne and am very much looking forward to collaborating with him in realising our 2030 vision,” he said. “Our already-talented team is considerably stronger with Graham on board. He brings unparalleled financial experience in buy and build strategies, combined with an immediate cultural fit, making him the ideal person to take us to the next level.”
Transformation
In response, Dickie said FluidOne was undergoing a transformation, and that it was a good time to join the organisation. “I’m looking forward to further establishing the business as an industry leader within IT, cyber and communications solutions,” he said.
Back in June 2024, FluidOne gained backing from Pemberton Asset Management to lay down long-term refinancing for the business.
At the time, the firm made it clear it was working to a multi-year plan with the aim of tripling the business.
Last year saw the firm pick up several additions, including Orca IT in September and SureCloud Cyber Services in March – which came on the heels of a move back in December 2023, when it picked up Brighton-based Computer and Network Consultants to add more southern-managed service coverage.
Sustainability
Elsewhere, Schneider Electric has also started the year with a fresh hire, as it looks to ramp up its sustainability efforts.
The power specialist has welcomed Nirupa Chander as its senior vice-president of secure power and datacentres.
In her role, she will lead a division of more than 700 professionals that work with partners and customers to help them digitally transform and move towards their sustainability goals.
“Understanding the complex and nuanced interplay between energy and data will be key to navigating the future of our industry,” said Pankaj Sharma, executive vice-president of secure power, datacentres and global services at Schneider Electric. “Nirupa’s experience and insight in this area will be invaluable in the ongoing digitalisation of the energy sector and our increasingly digital world, especially.”
