The owner of one of Britain’s largest managed cloud service providers will begin exploring a sale of the £500m-plus business. Sky News understands that Mayfair Equity Partners has engaged investment bankers to prepare a review of strategic options for Nasstar. The owner of one of Britain’s largest managed cloud service providers will begin exploring a sale of the £500m-plus business. Sky News understands that Mayfair Equity Partners has engaged investment bankers to prepare a review of strategic options.

The owner of one of Britain’s largest managed cloud service providers will begin exploring a sale of the £500m-plus business. Sky News understands that Mayfair Equity Partners has engaged investment bankers to prepare a review of strategic options for Nasstar. Estimates suggest that the global public cloud computing market is worth close to $370 billion and is expected to grow rapidly through the end of the decade.

Last year, Nasstar posted £114m in revenue and £22.1m in earnings before interest, tax, depreciation and amortization, with the latter nearly doubling from a year earlier, driven by a series of acquisitions and the launch of additional services.

Mayfair’s original investment in the group now called Nasstar took place in 2018, when the private equity firm led the management buyout of GCI Group from chairman Wayne Martin and the bank-backed Business Growth Fund.

Since then, the company has grown into a broader technology services provider, purchasing Modalidad in 2019, Nasstar the following year, and KCOM’s national ICT Services company in 2021.