PE-backed comms firm continues acquisitive streak with multimillion-pound deal
Beech Tree Private Equity-backed Solihull firm Wavenet has acquired Portal, a business based in Norfolk, in a multi-million pound deal as it continues its buy and build strategy.
The transaction follows the acquisitions of Via in January 2020, a leading Microsoft Teams telephony provider, and builds on the previous acquisitions of Solar, APR, Swains and Talk Internet during Beech Tree’s ownership.
Portal has over 20 years of telecoms and maintenance expertise, including working with the leading VOIP and cloud technologies.
Providing data, voice, security and technology services to over 8,000 SME and enterprise customers, Wavenet has offices in Solihull, Salford, Norwich, Cardiff and Nottingham and employs 250 people, including over 100 trained support staff and engineers.
John Corney, managing director of Portal Voice and Data said: “This is a fantastic opportunity for our customers and staff, the team at Wavenet have made the whole process very easy for us. This acquisition will massively boost the potential of all of our customers giving them access to Wavenet’s large portfolio of telecoms and technology services and their first-class customer and technical support.”
Bill Dawson, CEO of Wavenet, said: “As with previous acquisitions this is a really exciting time for the employees and customers of both Portal and Wavenet. Our combined potential and expertise will improve our customer service and maintenance experience and will open Portal customers to Wavenet’s extensive and advanced product portfolio, including TeamsLink, our newly launched Microsoft Teams calling and contact centre platform.
“I am thrilled to have Portal joining the Wavenet Group and look forward to working with their customers to build on the strengths and service they rely on. At Wavenet we pride ourselves on deploying solutions that make businesses brilliant and we are looking forward to bringing these innovative and market-leading services to more customers.”
Paul Franks, managing partner of Beech Tree Private Equity and director of Wavenet commented “Portal follows hot off the heels of the Via acquisition at the start of January. Wavenet is really gathering momentum as it broadens both its product portfolio and geographic reach across the UK. I’m delighted with the progress the team are making, with more acquisitions set for 2020.”
Terms of the deal were not disclosed.