Articles about Redcentric

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FCA straps on rubber gloves, eyes Redcentric's accounting mess

The Financial Conduct Authority is to probe the accounting screw-up at Redcentric that was made public last autumn when the firm admitted to overstating assets and understating net debts by millions of pounds. The London Stock Exchange-listed MSP said it made multi-year number crunching errors that saw net assets exaggerated …
Paul Kunert, 20 Mar 2017
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MSP Redcentric: Our financial errors are WORSE than we thought

The extent of the financial mismanagement at London-listed managed services outfit Redcentric were outlined today, and they are way worse than the company signalled when the mistakes were first found. The business admitted last month that it has it had made multi-year accounting errors that meant it overstated net assets by at …
Paul Kunert, 14 Dec 2016

Redcentric slurps bit barn biz City Lifeline for £4.8m

IT managed services provider Redcentric has snapped up East London-based bit barn operator City Lifeline for £4.8m. The data centre biz, nestled in the heart of the capital's Tech City alongside the likes of cornflake 'restaurant' Serial Killer, adds 28,0002 ft of space and 600 racks to Redcentric's portoflio. "This is a low …
Kat Hall, 29 Jan 2016

Redcentric: Firmly in the black despite Calyx slurp costs

The cost of acquiring and integrating Calyx left a dent in the half-year bottom line numbers for mid-market managed services slinger Redcentric – the only blot in an otherwise decent trading period. Turnover for the six months ended 30 September bounced 15 per cent to £54m. Excluding the contribution from Calyx, acquired in …
Paul Kunert, 9 Nov 2015
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Redcentric lines up COO as new CEO

Managed services outfit Redcentric has confirmed operations chief Fraser Fisher is to jump into the CEO chair in the not-too-distant future. In a statement to the City, the AIM-listed firm its revealed succession plans with current head Tony Weaver to step down on 9 November when interim results are filed. Weaver is to remain …
Paul Kunert, 30 Sep 2015
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Revenue up 62 per cent, as Redcentric posts bumper post-buy results

Managed services biz Redcentric reported a significant increase in sales and profits for its full-year 2015 results, as the firm's acquisition strategy began to bear fruit. The Yorkshire outfit posted an increase in revenue of 62 per cent to £94.3m, compared with 2014. Profits rose to £8m from £1.8m for the same period. The …
Kat Hall, 15 Jun 2015

Redcentric swoops on Calyx Managed Services in £12m breakup deal

Managed services biz Redcentric has snapped up Calyx Managed Services (CMS) for £12m, as part of the company's break-up. Last week, Calyx's maintenance and carrier services divisions were offloaded to Daisy Group and Chess, respectively, for a total of £5.5m. The carve up follows the purchase of Calyx MS by MXC Capital, with …
Kat Hall, 2 Apr 2015
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Redcentric wolfs down InTechnology MS, becomes swing-bellied midmarket fatso

Redcentric has devoured InTechnology Managed Services in a reverse takeover* valued at £65m that creates a relative midmarket channel powerhouse. Under the terms of the deal, first revealed by The Channel this weekend, 80 million shares priced at 80 pence each will be placed with institutional investors to raise £64m and the …
Paul Kunert, 18 Nov 2013

Redcentric set to swallow InTechnology MS - sources

A For Sale sign has been pitched outside the HQ of UK firm InTechnology Managed Services for months and it seems CEO Peter Wilkinson is just days away from announcing a buyer. According to our sources, managed services outfit Redcentric has struck a deal with the Harrogate-based public company, whose shares are available to …
Paul Kunert, 17 Nov 2013

Redstone's chief bean counter resigns as biz slowly dismantles itself

Networks integrator Redstone has revealed that its chief bean counter, Peter Hallett, has resigned in the wake of the demerger with its managed services arm. Back in February, Redstone confirmed plans to spin off its network managed services biz into a newly incorporated firm, Redcentric, a process that completed in April with …
Paul Kunert, 28 Jun 2013

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