PE-backed communications firm snaps up counterpart
Published on Monday, 17 February 2020
A Solihull-based private equity-backed communications company has acquired a Norwich counterpart.
Wavenet, which is supported by Beech Tree Private Equity, has snapped up Portal Voice and Data for a multimillion-pound sum.
The business specialises in telecoms, data and cloud in the East of England.
The deal comes after Wavenet bought Via in January and on the back of previous deals for Solar, APR, Swains and Talk Internet during Beech Tree’s ownership.
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."
Wavenet chief executive Bill Dawson added: "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, said: "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."