A founding director Leeds-based Backup Technology has successfully completed a management buyout of the business.
With funding from Yorkshire Bank, Simon Chappell bought the firm, which he started in 2005 with partners Chris Powell and Ritchie Fiddes.
The firm employs 29 staff from its UK headquarters in Leeds and its US base in Houston, and also operates three international datacentres in Manchester, London and Dallas.
Mr Chappell, said: “Backup Technology operates on a simple operating model – to deliver robust technological solutions and to provide comfort and peace of mind for our outstanding clients.
“We were instantly impressed by Yorkshire Bank’s approach to understanding our business and working with us to put in place the funding package we need to realise our growth ambitions.”
The company specialises in the provision of online backup, disaster recovery and business continuity solutions to UK and global clients including the British Red Cross, Cheshire Police, multinational advertisers WPP, and a host of Premier League clubs including Bolton Wanderers, Liverpool and Everton.
Adam Keasey, acquisition finance manager in Yorkshire Bank’s Corporate and Structured Finance team in Leeds, said: “Backup Technology is highly regarded for its technical expertise, solution reliability and high quality support offering, where it has real competitive advantage.
“We were delighted to facilitate the transaction and look forward to working with Simon and his team as they continue to grow the business.”
PKF provide financial due diligence, while CiL provided commercial due diligence, and Cobbetts acted for Yorkshire Bank with Pinsent Masons acting for Backup Technology.