HMT LLP advised LDC-backed communication tech and cloud communications specialist Onecom on their acquisition of Bristol-based Solution IP Communications.
Founded in 2002 and headquartered in Whiteley, Hampshire, Onecom is the UK’s largest independent business telecoms and cloud communications provider, delivering fixed line, mobile, unified communications, connectivity and cloud solutions. The company currently manages nearly 100,000 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. Its customers include Farrow & Ball, Thwaites, Celtic Manor, Laithwaite’s Wine, Yorkshire Building Society and 118 UK Ltd.
Onecom employs over 600 people in offices around the UK and counts Vodafone, Mitel, Samsung, Apple, Microsoft, Gamma and Five9 among others as its strategic partners.
Onecom is backed by mid-market private equity firm LDC which is fuelling the Hampshire-based business’s ambitious growth strategy.
The transaction brings Bristol-based Solution IP’s teams and in excess of 400 customers into the Onecom Group family.
HMT undertook financial due diligence on this transaction.
Christian Craggs, Head of M&A at Onecom commented:
“The team HMT did a great job for us. They were commercial, highlighted the key issues early in the process, and produced a clear and comprehensive financial due diligence report. We look forward to working with HMT again on future acquisitions.”
Paul Read commented:
“We are delighted to have advised Onecom on their second acquisition this year. The acquisition of Solution IP will enable Onecom to expand their geographical presence and customer reach. We look forward to work with them again as the business grows.”