Case Studies
Challenge
In 2015, we acquired a majority stake in Fluidata, a data delivery business with a young and ambitious leadership team. A year later, Fluidata acquired mobility specialist company One Point. In 2017, Rigby combined the services of the two companies under the rebranded name FluidOne.
Before their respective acquisitions, both Fluidata and One Point were deeply specialised in their own sub-sectors. Individually they owned a significant base of commercial banking customers, but in the wider communications and connectivity marketplace, competitors were broadening their offering.
Solution
By combining the services of Fluidata and One Point we enabled both companies to increase the scope of their customer offering. With our support, they had vital access to more capital and benefitted from our team’s wealth of experience in scaling up similar businesses.
We worked with the FluidOne team to develop a clear cross-sales program and deliver a new, broader proposition to the market.
Rigby also oversaw the establishment of new divisions within FluidOne. A channel division, a direct sales SMB division and a partnering division were created to expand the FluidOne proposition.
Result
Thanks to our guidance, FluidOne saw high levels of growth as well as employee satisfaction. In the four years after its establishment, the company’s underlying growth was 100%, with recurring revenue at 90%. During this time, FluidOne was also recognised as one of the best companies to work for in the small and medium business sector by the Sunday Times.
Rigby sold FluidOne to Livingbridge in 2019. The leadership team that Rigby initially implemented remains at the forefront of operations, and FluidOne is now four times the scale it was at the point of exit.
Challenge
Solution
Nuvias offered a fresh approach for Wick Hill and Zycko. The Group was presented as a pan-European brand, complete with its own customer and market story. By joining together multiple businesses, Nuvias could develop the scale of Wick Hill and Zycko’s operations. With no company occupying the market at the same scale, this was a lucrative opportunity for wholesale growth across the Group.
To facilitate the scale up of Nuvias, Rigby implemented a new structure, complete with new leadership teams, a new ERP system and a global shared services centre.
Subsequent Nuvias acquisitions included DCB in 2017, Cloud Distribution and Deltalink in 2021, and Netsafe in 2022. The addition of these companies to the Nuvias brand demonstrated the Group’s ambitions to accelerate growth and expand operations further.
Results
Sustained investment across the innovative tech landscape delivered high levels of growth for Nuvias Group. As the Group grew, guided by Rigby’s expertise, it embarked upon strategic vendor relationships across Europe, and developed a new high-growth vendor incubation model.
In 2022, Nuvias was acquired by Infinigate. At exit, Nuvias revenues were in excess of £550 million, with EBITDA at £13.5 million. We continue to hold a seat on the Infinigate Group Board.