Cass Entrepreneurship Fund LLP (“Cass”) sold its stake in Cloud Business Limited earlier this year for an undisclosed sum to 9 Holdings Ltd (“Nine”).
Cloud Business Ltd is an award winning cloud solutions consultancy that has worked with a wide range of companies to transform their digital workplaces. Nine is an established telecommunications provider supplying a large range of communications products, from fixed line voice to complex data solution, with clients as diverse as the New York Times and London Luton Airport.
The acquisition by Nine provides a full exit for Cass whilst James Butler, CEO of Cloud Business, joins the senior management team at Nine to drive the integration and synergies across the group.
Commenting on the realisation, Helen Reynolds, Investment Director at Cass, stated: ”It has been a real pleasure to work with James Butler and his team. James has built a strong and diverse business and Cass is very pleased to have supported the company from its early stages. We wish them continued success in the years to come.
James Butler commented, “Cloud Business has expanded significantly since it was originally backed by Cass. The guidance and support that Cass has provided over the last five years has helped us grow and develop as a business and achieve our current success.”
Peter Cullum stated, “Entrepreneurship is about skills and leadership, as well as ambition and resilience. It has been great to see James, with the support of the Fund team at Cass, develop his talents as an entrepreneur over the years, and to see both him personally and Cloud as a company achieve this exit.”
James Palmer, CEO of Nine, noted, “We see great synergy between our current businesses and Cloud; we look forward to building on the great relationship we have established with James Butler and his team to drive further growth for our group.”
About the Cass Entrepreneurship Fund
The Cass Entrepreneurship Fund is a £10m fund based at Cass Business School It was established in 2010 with the generous support of Peter Cullum, as part of the Peter Cullum Centre for Entrepreneurship. The Fund provides growth equity investment to early-stage, revenue-generating companies. It seeks skilled management teams with a clear vision and the drive to meet the challenges of early-stage business development, and to help them realise their wider commercial ambitions.