Redcentric in Harrogate put up for sale

The Harrogate-based firm said it ended its 2020 financial year in a much stronger position than it started in.

In a statement, Redcentric said: "Having successfully completed the integration of historical acquisitions and implemented efficiency initiatives across the business, the company was in an excellent position to actively start to explore the many opportunities open to it to deliver further shareholder value.

"In light of this confidence in the position of the company, the board of Redcentric believed that this was the correct time to ensure that it had explored the various options open to it to deliver shareholder value, including organic growth and/or evaluating potential acquisitions or the potential sale of the company."

The board expects the formal sale process to conclude during the fourth quarter of 2020. Redcentric confirmed that it is currently in discussions with Macquarie Principal Finance Pty Limited, UK Branch and Six Degrees Holdings Limited.

The firm added: "Whilst a potential offer for the company may be the outcome of a formal sale process, the company is alternatively evaluating potential options in relation to organic growth and/or potential acquisitions that might be made by the company.

"Redcentric has agreed with The Panel on Takeovers and Mergers that any discussions in relation to an offer for the company may take place within the context of a formal sale process in order to enable conversations with parties interested in making such an offer proposal to take place on a confidential basis."

Any parties with a potential interest in making a proposal under the formal sale process are being asked to contact financial adviser Stifel.

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Thank you

James Mitchinson