SCC parent Rigby offloads connectivity aggregator FluidOne

Rigby created the firm by merging two businesses in 2016, aiming to create the 'national grid of data'

Rigby Group has completed the sale of FluidOne, a "data connectivity aggregator" that it created by merging two businesses in 2016.

The privately owned firm acquired both Fluidata and OnePoint in 2015, merging them in the following year to create what aimed to become the "national grid of data".

The SCC owner has now sold the business to private equity firm Livingbridge.

COO Steven Rigby said: "We believe Livingbridge has a great business to take forward in the next chapter of its development and one which operates in the dynamic and fast-growing market of IOT, cloud and mobility connectivity.

"During our time with the business we have seen it scale up, delivering strong financial performance while maintaining its collaborative culture. We wish the leadership team all the very best for the future."

Rigby Group stressed that FluidOne will remain the "preferred communications" for SCC.

At the time the two businesses merged, FluidOne CEO (now chairman) Piers Daniell said the firm was aiming to be a £50m business by 2020.

The legal entity FluidOne Limited reported sales of £26m for its full year 2017, up 22 per cent on the previous year.

On its website, FluidOne refers to itself as a communications service integrator, offering data, voice and cloud solutions.

Matthew Caffrey, partner at Livingbridge, said: "We are delighted to acquire FluidOne, a business which is set for significant growth, being both well invested and poised to benefit from favourable market trends as the UK becomes increasingly digitally focused.

"Its integrated, automated, scalable technology platform and strong financials make it an attractive acquisition, and we are excited to take the business forward in its growth journey."