Acquisitive unified comms VAR Babble undergoes MBO

Unified comms VAR Babble has been acquired through a management buyout which valued it at £90m.

This deal sees private equity investor LDC bought out, although the firm will retain a minority stake.

Babble CEO Matt Parker said: "The last three years have been transformational for Babble and we are well on our way to becoming a £100m revenue business.

"We're pleased LDC is staying with us on the next stage of our growth journey."

Babble reported sales of £12.7m for the year ending 30 November 2019, up 62 per cent on the previous year.

The firm made a number of acquisitions when backed by LDC, including a deal for network services provider Lake Technologies in July.

It claims to now be on the path towards £100m in revenue.

Chris Morris, investment director at LDC, said: "We've been on a remarkable journey with Matt and his management team.

"Strong organic growth has been supported by a buy and build strategy that's transformed the business and expanded its product portfolio.

"We're looking forward to continuing to work alongside the team and the new investors to support their ambitious plans."