business

Wavenet expands with North West acquisition

Solihull communications technology firm starts spending 'acquisition war chest' following £35m MBO last year

(Image: Lawrence Looi /newsteam.co.uk)

Solihull technology firm Wavenet has acquired a North West rival following a £35 million management buyout last year.

The Shirley-based firm, which provides communication products and services to small businesses in the UK, has bought Warrington outfit Talk Internet in an undisclosed deal.

Talk Internet was founded in 1995 and provides network and cloud services.

Last summer, Wavenet underwent an MBO which saw Beech Tree Private Equity and Royal Bank of Scotland provide the funding for the buyout and commit to a "significant acquisition war chest".

The business was originally founded by Chris Jones in 2000 and in 2008 the current chief executive Bill Dawson invested and joined the company.

Mr Dawson said: "This is a fantastic opportunity for both customers and employees of Talk Internet and Wavenet.

"Our increased scale and resources will deliver a broader product set, a more robust and automated technical platform, stronger supplier relationships and a better customer experience which will help give all our customers a competitive edge.

"I am truly delighted and hope to make further announcements as we continue to exploit our financial resources to grow our business organically and seek further strategic acquisitions."

Advisers on the deal were law firms Higgs & Sons and Brabners with financial due diligence from Dow Schofield Watts.

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