Fast24 completes MBO
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Posted in Telecoms, 12th November 2004 10:07 GMT
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Suffolk-based ISP Fast24 Ltd has split from its parent company following a management buy-out. Financial details concerning the MBO were not disclosed.
The broadband ISP with dial-up and web host punters was launched by Lark Computers in 2000. It later separated from its parent after turnover outgrew Lark.
Since then, the ISP has increased growth and profit year-on-year, according to a statement from the ISP.
Said new MD Jason Elsom, said: "Since its launch, Fast24 has seen impressive and consistent growth in customer numbers, whilst remaining profitable in an industry marred with the failure of an array of suppliers and ISPs.
"Our business has been on hold for the last six months, due to the sale negotiations, however I now intend to waste no time in building upon Fast24s' foundations with a review of its product range, additional network investment and an injection of resource into its customer services operations." ®
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