Telecommunications specialist dials up private equity-backed MBO
A telecommunications specialist, which has offices in Coventry, has completed a private equity-backed management buyout.
Private equity fund Queen’s Park Equity (QPE) has partnered with TelcoSwitch, a provider of unified communications and compliance services supporting 140,000 active daily users across 65 countries.
The investment will enable TelcoSwitch to explore further M&A opportunities, broaden its channel-focused product suite, increase headcount and surpass 400,000 active users by the end of 2024.
This follows on from a series of successful acquisitions completed in the last 18 months, including OneVoice, PBX Hosting, and SureVoIP.
Russell Lux, TelcoSwitch founder and CEO, said: “This is a hugely exciting time for everyone involved with TelcoSwitch. In under six years we’ve grown a successful channel business that continues to challenge the status quo in our industry with powerful products and services. The team at QPE share our energy and enthusiasm, and we’re delighted to have their long-term support in accelerating our strategy and ambitions.”
Nick Manning, investing at QPE, added: “We are very excited to be supporting TelcoSwitch to build on the impressive growth the team have achieved in recent years. Their success is testament to both the quality of the underlying technology and the strength of the management team which has positioned TelcoSwitch perfectly to continue its exceptional growth story.”
Investment firm Alantra advised the shareholders of TelcoSwitch.
Alantra’s UK technology team advising on the deal included James Chapman-Andrews, Oliver Norman and Will Fenby, advised TelcoSwitch.
Chapman-Andrews said: “TelcoSwitch has a high-quality leadership team that has delivered a proven growth strategy both organically and through strategic acquisitions. The business will continue to build on its scalable platform with the support of QPE. We look forward to seeing the accelerated growth of TelcoSwitch and wish them and QPE the best in this investment.”
TelcoSwitch’s executive management structure will remain unchanged following the investment, while Jonny Kay and Nick Manning from QPE will join the TelcoSwitch board of directors.
