Six Degrees Group, a data services specialist for corporate customers in Britain’s mid-market, has secured a new £25m credit facility from Clydesdale Bank.
The new facility will enable Six Degrees to pursue its strategy of organic and acquisitive growth, and build on impressive recent financials.
Six Degrees currently boasts a revenue run-rate of £30m, with double-digit organic growth. The company’s senior management team is confident of maintaining this performance in the coming months.
Ronnie Smith, chief finance officer of Six Degrees, said: “Our model is working superbly well. In a challenging economic environment we’re seeing increasing demand for our range of hosting and cloud services.”
Mark Hull, who led the Clydesdale Bank team on the deal, added: “We have established an excellent relationship with the directors of Six Degrees Group over a number of years and this latest extension of our support further enhances the successful partnership we have developed with the company.
“Alastair and his team have a proven track record of success, and have continually demonstrated an ability to exceed performance targets.”