Redcentric looking for a buyer

Troubled MSP Redcentric has confirmed that it is considering a sale saying that 2020 left it in an “excellent position to explore further opportunities to increase value for its shareholders”.

It did say that it was also considering its own M&A and organic growth as other means in which to increase this value.

“The board of Redcentric notes the recent media speculation and confirms that it has initiated limited discussions with third parties with a view to seeking a potential purchaser or purchasers for the company.¬†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”, the company said.

The MSP is understood to be in informal talks with private equity firm Macquarie and Six Degrees. It is open to talks with other parties as long as they remain anonymous and sign non-disclosure agreements. Redcentric expects any possible sale to conclude by Q4 of this year.

“It should be noted that, as at the date of this announcement, the company has not received any form of approach or indicative proposal to acquire the company, either pursuant to the company-initiated discussions or otherwise”, it stated.