Software tycoon takes 20pc share of IT outfit Sleek

Richard Beaton has become chairman of Leeds-based Sleek Networks, the data centre and internet hosting business.

Mr Beaton, 53, has a track record of creating and growing sales-led IT businesses, including Crewe-based Boldon James, which provides messaging and connectivity software.

Sleek Networks, which was founded in 2005 and employs 12 staff, already has data centres in Leeds, London and Amsterdam.

Mr Beaton, who is based in Cheshire, said Sleek could grow organically and, possibly, by acquisition. The company is forecasting growth of more than 30 per cent this year, with a revenue target of £2m.

Sleek is one of the founding members of IXLEEDS, a Leeds-based internet exchange that aims to allow northern companies to exchange internet data without the need to route through London.

Mr Beaton said Sleek had recorded a strong first quarter for this financial year.

He said many FTSE 100 companies regarded externally managed services as the future.

Mr Beaton said yesterday: “Sleek has a very loyal customer base of some very strong names.

“The business has gone from strength to strength and I see real potential for it, given the quality of its management team, product offering and customer service standards.

“I’m also looking at other opportunities. I’ve been quiet for the last 18 months or so but feel the time is right to invest again.

“I’m looking at making a number of investments over the next 12 to 18 months in companies with strong growth potential.”

Ryan McCarry, the managing director of Sleek Networks, said the company aimed to become the leading managed hosting and data centre service provider in the North of England.

Securing Mr Beaton as an investor would boost Sleek’s credibility, Mr McCarry added.

He said: “The decision to bring Richard into the business as our chairman has been carefully considered and is exactly what Sleek requires at this point in our business development and strategic growth.

“We have been courted by several investors and venture capital companies over the last 12 months and following a few meetings with Richard, we were confident that he was the right match for us.

“His proven track record of delivering significant value and growth within the businesses he invests in was a strong factor in our decision to work with him.”