HMT LLP has advised connectivity and cloud-based software provider Gradwell Communications, on their acquisition of Technology Solutions Group Limited, trading as The Technology Group.
Based in Leeds, TTG was co-founded by father and son team David and Jonathan Marsden in 2011, and now serves a diversified customer base of over 890 SMEs through its provision of a comprehensive end-to-end cloud-based communications, offering across Voice over IP, video, chat and collaboration technologies via its role as strategic partner to its clients.
Headquartered in Bath, Gradwell Communications, an investee company of Chiltern Capital, is a UK focused provider of hosted telephony, connectivity and cloud-based software as a service to SMEs, serving a diversified customer base of over 7,800 SME customers. Founded in 1998, Gradwell has since been operating in the hosting market and subsequently developed a SaaS telephony offer in 2004.
With financing from Shard Credit Partners, this strategic acquisition will see the combined entity, “The Group”, offering a comprehensive end-to-end, cloud communications package across services such as hardware sourcing, private hosted phone systems, business lines and call packages, connectivity and SIP Trunks. The Group will benefit from an overlap in services and technology platforms which will foster achievable synergies and cross-selling opportunities.
The acquisition of TTG will place the Group in a strong position to capitalise on the rapidly growing UK cloud communications market.
HMT, led by Paul Read and Corin Briault-Hutter, undertook financial due diligence for Gradwell Communications on this transaction.
David Butler from Chiltern Capital commented:
“Cloud communications has performed strongly during the last 12 months as more customers have moved from on-premise, fixed line systems to VoIP. Bringing TTG and Gradwell under the same ownership creates a compelling UC offering for both SME and mid-market customers. We are pleased to have worked closely with Corin, Paul and the rest of the team at HMT on this transaction. As always, we received clear and concise advice and were able to deliver to our funders reports on both Gradwell and TTG in a short timeframe, during a particularly busy period across the market..”
Paul Read commented:
“We are delighted to have advised Gradwell Communications on their acquisition of The Technology Group. This strategic acquisition will strengthen The Group’s position within a rapidly expanding sector within the UK, presenting further growth opportunities through aligned products and services and broadening their overall market reach and capabilities. We look forward to working with Gradwell again in the future.”