Tue, 18 May 2021 | BUSINESS SALE
Business telecoms firm Arrow Business Communications has announced the acquisition of UK-tec, the company's fourth takeover since it received a £50 million investment from MML Capital Partners in January 2020. The private equity backing aimed to help the company to strengthen its growth via a buy-and-build acquisition strategy.
Since MML’s private equity investment, Arrow Business Communications has completed the acquisitions of Altinet and MSP Click Networks before moving into the public sector in March 2021 with its takeover of Complete Networks.
UK-tec offers multiple network and security solutions that fit into Arrow Business Communication’s development strategy, including managed services and SD-WAN. The target firm’s partners include TalkTalk Business, Fortinet and CheckPoint.
Arrow Business Communications CEO Richard Burke said: "As a group we have been looking to accelerate the development of our SD-WAN, complex networking and wider channel offering.”
"Bringing the UK-tec business into the group significantly enhances our capability in all of these areas, with the team providing strong technical leadership and experience that will benefit both the Arrow Group and its channel partners.”
"I am excited about what we can achieve together with our combined product portfolio in the coming years and delighted to complete the acquisition."
UK-tec Co-founder and MD Ian Jackson commented: "The acquisition advances our strategy by at least two years. Being part of the Arrow group provides us with the structure and capability to support the UK channel with a range of services allowing them to flex and react to the needs of their customers as lockdown restrictions are relaxed.”
In Arrow Business Communications’ most recent accounts, which cover the year ending December 31 2019, the month prior to MML’s investment, the group reported turnover of £31.4 million, up from £22.1 million a year earlier.
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