FluidOne is highlighting its commitment to its ambitious 2030 plan by appointing seasoned financial expert Graham Dickie as its new Chief Financial Officer (CFO).
“I am delighted to welcome Graham to FluidOne and am very much looking forward to collaborating with him in realising our 2030 vision,” FluidOne CEO Russell Horton commented.
The hire, effective 6 January, marks a pivotal milestone for the cloud solutions company as it aims to triple its turnover to £300 million in five years.
Fuelling FluidOne’s Growth
Founded in 2006, the UK-based FluidOne has undergone substantial change, which has led it to quadruple in size to revenues of £113 million since a management buyout led by CEO Russell Horton and Livingbridge almost six years ago.
One such development was pivoting from a company specialising in communications and connectivity services into an IT and Cyber Security-led managed service provider.
Dickie said following the announcement:
“It’s exciting to be joining FluidOne at such a transformative time in their journey; I’m looking forward to further establishing the business as an industry leader within IT, cyber and communications solutions,”
This growth reflects the increasing importance cybersecurity is playing in the UC sphere.
Since the dawn of mass hybrid work, businesses of all sizes have increasingly adopted communication tools like Microsoft 365. The amount of crucial data passing through these tools has made them an increasingly attractive target for attackers.
Microsoft 365 observed a tenfold surge in password-based attacks, from around 3 billion per month to over 30 billion, in the first quarter of 2023, and a Malwarebytes report that exposed a “malvertising campaign” to steal passwords from Microsoft Teams for Mac users.
Microsoft has since started its Secure Future Initiative, with “the equivalent of 34,000 full-time engineers” working on the project to significantly bolster its security infrastructure.
A trusted Microsoft 365 cloud partner, FluidOne consults with its 2,400 customers to design solutions that complement their in-house IT structures.
For customers using Microsoft 365, this means adding extra security for its customers by providing things like Backup as a Service and security management services.
FluidOne asserts it now receives over 50% IT and cyber revenue mix and recurring revenues of over 70%.
This growth has seen FluidOne secure nine acquisitions in recent years, and as part of its expansion, it is pairing the strategy of additional purchases with organic growth.
Last year, the company acquired Managed Services Provider Orca IT, expanding its presence in IT and Cyber Security Managed Services and introducing a local presence in North-West UK.
What Dickie Can Do for Growth
In joining FluidOne, Dickie will assist the company’s strategic financial planning and operations in its 2030 endeavour.
Dickie brings to the role over 20 years of financial and leadership experience, with experience in multi-billion dollar global organisations like PWC and Schlumberger, and as a CFO in private equity-backed companies since 2006.
His appointment at FluidOne sees him return to the UK after a decade in Canada, where he had over 10 years of leading company financials as CFO.
Through this, Dickie brings comprehensive leadership skills and a wealth of knowledge in working through large-scale restructuring and refinancing projects, skills pivotal in supporting FluidOne’s next steps in scaling up.
Dickie role as CFO sees him join the group board alongside CEO Russell Horton and CIO Chris Rogers as the board works together on FluidOne’s ambitious growth strategy.
With recent acquisitions and refinancing completed, a new CFO, and the clock ticking on its 2030 deadline, FluidOne looks poised for a dynamic 2025.
The firm states its vision is to become the best quality provider of Connected Cloud Solutions to UK businesses. It currently has eight offices in the UK, with its Orca acquisition extending its presence north of the country.
But with an acquisition mindset crucial to its growth strategy, does Dickie’s experience and connection to the Candian market show ambitions beyond the UK?
