Through this new partnership with Macquarie Capital, UK-based telecoms and tech solutions provider Wavenet, will benefit from both expertise and flexible growth capital, greater investment in its employees as well and providing a renewed focus on strategic acquisitions. Macquarie Capital acquired the majority stake from Beech Tree Private Equity.
“I am extremely grateful for Beech Tree’s support and advice over the last five years, the team have been integral in empowering the expansion and development which has resulted in our fantastic growth,” said Bill Dawson, CEO at Wavenet.
“As a team, we are excited to continue to build on this growth as we enter our new partnership with Macquarie. I am confident that the passion and quality of our people, management and infrastructure combined with Macquarie’s experience will drive us to even greater success in the future.
Over the past five years, Wavenet has grown from approximately £14 million turnover in 2016 to over £60 million in 2021, through a combination of acquisitions and strong organic growth.
The company has also made significant investment made in its people, network, products and systems, which has resulted in being able to support large scale enterprise solutions including their recent win of DVLA’s contact centre and back-office.
“We are delighted to partner with the Wavenet team and help them continue their strong growth trajectory,” said Adam Joseph, head of private equity for Macquarie Capital Principal Finance Europe.
“This investment provides us with a unique opportunity to deploy our flexible capital to grow a leading UK technology service provider at a time when organisations across the country are looking for increasingly innovative technology solutions.”
For Macquarie Capital this latest Wavenet transaction follows a number of other investments in UK medium sized businesses. The firm has previously worked with a variety of small to medium sized businesses, covering a variety of sectors – including technical services, healthcare and technology companies.
“We are delighted to have worked with Bill and the management team at Wavenet over the past five years,” said Paul Franks, managing partner at Beech Tree Private Equity.
“The business has grown substantially – both in scale and capability, including eight bolt-on acquisitions. Wavenet is now one of the stand-out unified communications players in the UK market. I wish Macquarie and Wavenet every success for the future."
