Mon, 16 Oct 2023 | BUSINESS SALE
Windsor Telecom has acquired Gloucester-based firm Connexus Networks and Connexus Technology, a company that provides managed IT and communications services to around 400 customers. The deal was supported by alternative lender ThinCats.
ThinCats has supported Windsor Telecom with a tailored, flexible debt facility over the past three years, enabling the business to make several acquisitions. This funding agreement has now been increased and extended further in order to support the company’s continuing growth ambitions.
Commenting on the deal and the company’s growth during the last three years, Windsor Telecom Chief Executive Pete Tomlinson said: "We are really excited about this next phase of Windsor's growth plans; it has been a busy three years with multiple acquisitions and a broad business transformation.”
Tomlinson added: "The acquisition of Connexus is a key part of our future strategy. We look forward to welcoming the Connexus team to the Windsor organisation.”
ThinCats Regional Head of Sales and Private Equity Dave Sherrington said that Windsor was an “ambitious and growing business” and that the extended facility “supports their current and future needs”. Sherrington continued: “Making smart acquisitions is exactly what this type of funding is designed for, and we look forward to seeing them go from strength to strength."
Windsor has been supported since 2019 by debt adviser Altenburg Advisory, with the adviser playing a role in structuring and arranging the firm’s enhanced facilities.
Connexus’ Managing Director Gulam Patel described Windsor Telecom as “a business very much like Connexus” and cited the care the company provides for customers and colleagues as a key reason behind the merger. Patel added: "I am confident that this change will benefit the Connexus business and customers with Windsor bringing a scaled team and complimentary product set."
Find out more about the trends that have shaped M&A activity in the UK's telecoms sector over recent years
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