HMT LLP advised LDC-backed communication tech and cloud communications specialist Onecom on their asset purchase of On-Site Connect Ltd.’s customer base.
Founded in 2002 and headquartered in Whiteley, Hampshire, Onecom is the UK’s leading business communications technology and cloud communications specialists, delivering fixed line, mobile, unified communications, connectivity, and cloud solutions. The company currently manages nearly 80,000 business customers, delivering communication services and unified solutions across fixed line voice, connectivity, and managed cloud to some of the UK’s most dynamic companies.
Onecom employs over 600 people in offices around the UK and counts Vodafone, Microsoft, Samsung, Apple, Gamma, Mitel and Five9 among others as its strategic partners. Onecom is backed by mid-market private equity firm LDC which is fueling the Hampshire-based business’s ambitious growth strategy.
This acquisition falls in with Onecom’s growth plan to continue to acquire strong businesses that share their culture, values, and ethos to enhance their presence and technical capabilities. On-Site Connect provides excellent communication technology solutions to its loyal and well-established customers, making them a great fit for Onecom. The geographic proximity of the On-Site operation, and the complementary nature of their household name customer base with Onecom’s existing customer family, make this transaction a perfect fit in Onecom’s M&A strategy.
HMT LLP undertook financial due diligence on this transaction.
Christian Craggs, Head of M&A at Onecom commented:
“HMT came through once again with excellent support on Onecom’s second acquisition of 2023, the purchase of On-site Connect. Paul, Jack and Corin provided the same great service, delivering clear and concise advice, working in a flexible and communicative way. This second successful transaction reinforces our commitment to working with and our recommendation of HMT.”
Paul Read commented:
“We are delighted to have advised Onecom on this second acquisition of 2023. The acquisition of On-Site Connect further supports Onecom’s mission to build on and extend their geographic presence and technical capabilities. We look forward to work with them again as the business grows.”
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