BGF exits Nottingham business comms firm
Investor BGF has exited of Jola, the channel-only supplier of business communications, specialising in mobile data SIMs.
Nottingham-headquartered Jola has been acquired by Wireless Logic, a global IoT connectivity platform provider. The deal will enable Wireless Logic to consolidate its routes-to-market through a single, focused channel, serving VARs and dealers in the UK.
BGF backed Jola with a £10.25m investment in March 2021 and the business has experienced rapid growth during the hold period. BGF supported Jola with its acquisition of Zapappi, bringing its software development capabilities in-house.
Jola CEO Andrew Dickinson, said: “BGF has been the ideal funding partner to support this phase of our growth and we really valued their expertise, guidance, light touch and flexible approach.”
BGF investor, Seb Saywood, who led the investment into Jola, said: “Jola is a fantastic example of an innovative East Midlands technology business, which has achieved scale quickly because of its truly market-leading offering and the strength of its management team. We have been delighted to support the business’ growth and look forward to seeing its future success with Wireless Logic.”
Dickinson added: “Jola will remain an independently run company within the Wireless Logic Group, focussing as always on the UK channel, but with a global reach. The 1000+ Jola partners will see no change in the short term and over time they will benefit from product innovations across the group and more extensive supplier relationships. It’s testament to our clients, suppliers, funders and our amazing team that we’ve been able to achieve this milestone.”
BGF was advised by Gavin Cummings at Browne Jacobson and Jola was advised by a team led by Catherine Hemsworth at Pinsent Masons.