virtualDCS to Expand Following Acquisition by MonacoSol
Leeds-based virtualDCS, a company specializing in cloud hosting, disaster recovery, and cyber resilience technology, is accelerating its growth strategy. This follows its recent acquisition by MonacoSol, a private equity firm focused on technology and software.
MonacoSol, led by technology entrepreneur Richard Beaton as chairman, has added virtualDCS to its growing portfolio. His sons, Ollie and Eddie Beaton, serve as chief executive and chief financial officer, respectively.
The acquisition will enable virtualDCS to expand its operations and enhance its service offerings.
Strategic Investment and Expansion Plans
In October, MonacoSol announced a £40 million war chest to support its acquisition strategy. The other companies in MonacoSol’s portfolio, which are also based in the North, include Open ECX, Hiring Hub, and Furza.
MonacoSol, headquartered in Manchester, has acquired a majority stake in virtualDCS for an undisclosed sum. The co-founders of virtualDCS — Richard May, John Murray, and Dan Nichols — will continue with the business as it enters its next phase of development.
Following the acquisition, virtualDCS has relocated its headquarters from The Waterscape in Kirkstall to larger offices in Wellington Place, a modern development in Leeds city center. The company currently employs 22 staff members, including developers, system analysts, network engineers, and cyber security specialists. It anticipates adding approximately a dozen more employees over the next 12 months, with recruitment efforts concentrated on expanding its commercial and technical teams.
Enhanced Service Offerings
Founded in 2008, virtualDCS generates a turnover of £2.8 million and collaborates directly with customers, as well as through channel partners, including Phoenix Software, CCS Media, and Vapour Cloud, which deliver its cloud services to their client base.
VirtualDCS serves a diverse clientele across sectors such as retailing, local government, hospitality, food wholesaling, healthcare, IT support, fuel supplies, research organizations, and professional bodies. Notable clients include B&M Retail, The Rix Group and its diverse portfolio of businesses, and Achilles.
The company provides a variety of cloud services, including innovative Software as a Service products that allow businesses to safeguard their data, and improve their cyber resilience and security.
Leadership Perspectives
Richard May commented on the acquisition.
“This acquisition is a key moment in virtualDCS’s journey. By joining forces with MonacoSol, we’re gaining the resources and expertise needed to accelerate our growth and enhance what we offer to our customers. “It’s very much business as usual for our clients and, with the added firepower of MonacoSol, we’re in an even stronger position to innovate, expand our capabilities and deliver exceptional solutions. “I’m confident this partnership will drive the business to new heights while continuing to provide the level of service to which our customers are accustomed.”
Ollie Beaton also shared his perspective on the acquisition.
“We are extremely excited by the acquisition of virtualDCS. It’s an innovative cloud business with a knowledgeable team and a loyal customer base, and we are thrilled to be involved. “Alongside the financial investment, the MonacoSol team has a great deal of experience in the cloud technology industry to help support the virtualDCS team to accelerate the next phase of growth for the company.”
