Wavenet’s turnover has now surpassed £100m with the acquisition of Excell Group.
London-headquartered Excell counts Cisco, Avaya and Konftel among its vendor partners. Its purchase will boost Wavenet’s presence in the cloud and workspace market.
The acquisition marks the MSP’s third in the span of a month following those of ISL and NTS Communications. Wavenet now services over 10,000 businesses and has revenues of over £100m.
Bill Dawson, CEO of Wavenet, stated:
“Excell is the largest and most exciting acquisition we have made to date, bringing new services and a talented team into the Wavenet Group”
“This acquisition represents a huge step forward in our growth plans, giving us a stronger presence in the south of the UK and adding experience in growing service areas including flexible workplaces and cloud.”
“Excell’s passionate focus on customer happiness closely reflects the values that everyone at Wavenet is dedicated to, the combined capability will meaningfully benefit our customers, partners, and employees. I am extremely proud of our teams and look forward to continuing our growth and success as we integrate Excell into the Wavenet Group.”
Darren Strowger, Chairman of Excell Group, added:
“Following almost 30 years of growing our business into a dynamic and trusted organisation, we felt the time was right to take the next step and we couldn’t have found a better partner for that than Wavenet”
“Wavenet’s vision and values align completely with those that we already hold at Excell, which will not only enable a smooth integration, but will quickly enhance the service provided to our customers.”
Macquarie Capital Principal Finance took over as Wavenet’s primary private equity backer in May and has overseen each acquisition since then.
“As digital connectivity and innovative technology services become ever more important, we’re proud to be able to support the expansion of Wavenet, leveraging our extensive financial and operational expertise,” stated Adam Joseph, Head of Private Equity for Macquarie Capital Principal Finance Europe.
“The Excell acquisition is the third in six months, and significantly grows the business. We’re excited to be a part of its growth journey and will continue to support the Wavenet management team to provide vital telecommunication and connectivity services to the UK’s SME and public service customers.”
