Unified comms provider Wavenet has secured £75m in financing as it looks to continue an M&A spree that has seen it make four acquisitions in two years.
The Solihull-based company has re-financed its current banking facilities to continue its buy and build strategy.
The unitranche facilities are provided by Ares and the super senior facility is provided by Royal Bank of Scotland.
CEO Bill Dawson said that he expects to announce new deals in the near future.
"We set out a couple of years ago to build a standout business in the sector with leading cloud-based unified communications solutions," he stated.
"Our progress to date has been substantial and we are pleased with the pace of growth which has enabled us to provide better opportunities to our clients and our staff.
"I'm delighted we now have the firepower to continue the story and I look forward to announcing further deals in the not too distant future."
Established in 2000, Wavenet provides cloud, voice and data solutions to SMBs. It was bought by Beech Tree private Equity through a management buyout for £35m in 2016.
Since its purchase, the reseller has completed four acquisitions, including that of Norfolk-based APR Telecoms earlier this year, bringing its headcount to 100. It also has an office in Warrington.
Wavenet was ranked 24th in CRN's Comms Provider report (available exclusively to CRN Essential subscribers) and generated £14m revenue in its last fiscal year.
Paul Franks, MD at Beech Tree, said: "The team at Wavenet have done a phenomenal job of identifying and executing a number of acquisitions already.
"We want to continue the buy and build strategy we set out on and this new facility provided by Ares and RBS, provides the capital to continue the build up of this technology-led company.
"We will continue to add quality businesses that complement the converged data, voice, cloud, security and mobile offerings of Wavenet."
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