West Midlands based Wavenet acquires counterpart Excell Group

Wavenet

Telecoms company Wavenet has bought acquisition of Excell Group for an undisclosed sum. The purchase is the largest in Wavenet’s history.

Solihull-based Wavenet, an award-winning, leading UK supplier of business telecommunication and technology solutions is backed by Macquarie Capital. This acquisition will boost Wavenet Group’s market share in the cloud and workspace market as one of the UK’s leading managed service providers to businesses for fully converged data, voice, cloud, and IT.

Excell Group has grown steadily since its inception through both organic and acquisitive means, expanding its network, portfolio and creating a hugely successful business centre service for landlords and serviced offices.

The Excell acquisition is the third addition to the Wavenet Group since Macquarie’s majority ownership was announced six months ago. With the acquisition of NTS Communications and Internal Systems Limited, Wavenet now provides services to more than 10,000 businesses, and has an annual turnover climbing to more than £100 million.

Bill Dawson, CEO of Wavenet said: “Excell is the largest and most exciting acquisition we have made to date, bringing new services and a talented team into the Wavenet Group. This acquisition represents a huge step forward in our growth plans, giving us a stronger presence in the south of the UK and adding experience in growing service areas including flexible workplaces and cloud.”

Darren Strowger, Chairman of Excell Group, added: “Following almost 30 years of growing our business into a dynamic and trusted organisation, we felt the time was right to take the next step and we couldn’t have found a better partner for that than Wavenet.”

Adam Joseph, Head of Private Equity for Macquarie Capital Principal Finance Europe, said: “As digital connectivity and innovative technology services become ever more important, we’re proud to be able to support the expansion of Wavenet, leveraging our extensive financial and operational expertise. The Excell acquisition is the third in six months, and significantly grows the business. We’re excited to be a part of its growth journey and will continue to support the Wavenet management team to provide vital telecommunication and connectivity services to the UK’s SME and public service customers.”

Formed in 2000, Wavenet has grown to become a multi-award-winning provider of telecoms and technology solutions to thousands of businesses and enterprises across the UK. Wavenet is a managed service provider and has long-standing partnerships with some of the world’s top technology providers.

Providing data, voice, security, and IT services to over 9,000 SME, enterprise, and public sector customers, Wavenet has offices in Solihull, Chester, Norwich, Cardiff, Nottingham, and St Albans and employs 250 people.

In May 2021, Wavenet announced its sale to Macquarie Capital Principal Finance, the principal financing and investment arm of the global financial services company, Macquarie Group.