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BGF bags Skyscape Cloud Services stake through £4m investment

15 May 2014

Storm dark clouds over fieldUK private equity investor BGF has invested £4m in cloud infrastructure company Skyscape Cloud Services in return for a minority stake in the business.

Skyscape is currently growing at 20 per cent per month and is forecast to deliver annualised monthly recurring revenue of about £10m, the company said.

BGF investment director James Austin said, “We are very pleased to be backing Phil and the team at Skyscape.

“This is a young, dynamic business that is growing rapidly due to its unique cloud service offering to the developing public sector market.

“Skyscape is a business of significant scale, strengthened by an impressive management team with the ambition to grow the business in line with the government’s desire for wider adoption of cloud-based services.

“It is an exciting moment to be partnering with the company as it embarks on the next stage of its growth story.”

Earlier this week BGF provided £10m of growth capital to external property services business TCL Holdings.

The company provides estates management and landscape installation, design and consultancy services throughout the UK, with clients including Barratt Homes, Persimmon Homes and Redrow Homes.

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