MonacoSol, a Manchester, UK-based private equity firm, has taken a majority stake in virtualDCS, a Leeds, UK-based cloud hosting company.
The amount of the deal was not disclosed.
The acquisition will enable virtualDCS to accommodate a team in line with its expansion strategy. Following the deal, the company has moved its headquarters from The Waterscape in Kirkstall to larger offices at Wellington Place, a modern development in Leeds city centre.
Founded by Richard May, John Murray and Dan Nichols, virtualIDCS delivers a range of cloud services, including a host of Software-as-a-Service (SaaS) products which enable companies to protect their data and enhance their cyber resilience and security. Its customers span sectors ranging from retailing, local government, hospitality, food wholesaling, healthcare, IT support and fuel supplies to research outfits and professional bodies. Clients include B&M Retail, The Rix Group and its diverse portfolio of businesses, and Achilles, a supply chain risk management software provider.
The business, which was founded in 2008 and turns over £2.8m, works directly with customers as well as through a variety of channel partners, including Phoenix Software, CCS Media and Vapour Cloud.
virtualIDCS currently has 22 staff, including developers, system analysts, network engineers and cyber security specialists, and expects its workforce to grow by around a dozen over the next 12 months backed by MonacoSol’s investment, with recruitment plans focused on expanding its commercial and technical teams.
MonacoSol is the family office of technology and software entrepreneur Richard Beaton, who is its chairman. His sons Ollie and Eddie are its chief executive and chief financial officer respectively.
FinSMEs
24/03/2025