Waterland-backed Enreach buys NT Technology Group

This is a continuation of the buy-and-build strategy started by Waterland in early 2018 with the acquisition of German firm Swyx Solutions.

The strategy was backed by Pemberton, which provided a €50m debt package to finance the original purchase price and further acquisitions. The debt was refinanced and replaced with €150m in term debt and a committed acquisition facility in the summer of 2018, which was partly used to combine Swyx with Dutch Voiceworks Group, forming the Within Reach Group.

The company was rebranded to Enreach earlier in 2019 and has secured an additional €50m extension to its existing debt provided by Pemberton, leaving it with €197m outstanding.
Waterland has made additional equity contributions for each acquisition, drawing capital from Waterland Private Equity Fund VII.

The combined group expected revenues of €150m in 2019 and employs 600 people.

Company
NT Technology was founded in 2004 and is headquartered in Telford. It provides software to the telecommunications and IT market, and employed 92 people in 2017, generating an operating profit of £2.7m from sales of £11.7m that year.

People
Waterland Private Equity – Jan Dörries (director).
Enreach – Stijn Nijhuis (CEO).

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• Topics
• Expansion
• UK / Ireland
• DACH
• Technology
• Waterland Private Equity
• Pemberton Asset Management
• Buy-and-build
• Build-up
• United Kingdom