Project Description

HMT LLP undertook financial due diligence for Chiltern Capital (“Chiltern”) on their investment in Gradwell Communications (“Gradwell”) to support the buy-in management buy-out.

Founded by Peter Gradwell in 1998, the Bath-based business has been a pioneer of voice over internet protocol (VoIP) telephony in the UK. The business has now diversified and provides a wide range of cloud-based services and connectivity to SMEs.

Gradwell is a Microsoft Gold Partner for hosting, participating in the Microsoft Partner Network for hosting solutions. The business is currently one of only a few providers in the UK with this designation delivering solutions for the small business segment. In 2016 Gradwell was nominated for Three Comms National awards; ISP, Hosted Platform and SME Cloud solution.

The new management team, backed by Chiltern, is led by chief executive Nick Caw. Following the deal, founder Peter Gradwell will remain with the business and has retained a significant equity interest.

HMT undertook financial due diligence on this transaction.

Tom Phipps from Chiltern Capital commented:

We were delighted to work with the HMT Transaction Support team and as always they provided a quality service.  Their advice was clear and concise, and they produced a focused report working to a tight timetable. We look forward to working with them again in the future.”

HMT commented:

“We are delighted to have advised the Chiltern Capital team and Nick Caw on the transaction.  Gradwell Communications operate in an exciting growing market, and the Management team supported by Chiltern are well placed to lead the business through its next phase of growth. We look forward to working with the team in the future.”