BGF leads £15.3m funding round for Olive Communications

The funding package includes a £10m growth capital investment from BGF and £5.25m of new debt facilities provided by Barclays. Olive generated around £30m of revenues in 2015.

The fresh capital will be used to further scale up the company's operations and bolster the team with new appointments. According to BGF, the business will also consider further acquisitions as part of its strategy.

BGF's Mark Nunny will take a seat on the board of Olive Communications as part of the deal.

Company
Headquartered in High Wycombe, Olive Communications was founded in 2003. The company provides communications services that help corporates and small and mid-sized organisations to improve the way they run their IT infrastructure across voice, data, applications and mobile devices.

The business employs 150 people across its three sites in High Wycombe, Hatfield and Towcester.

People
Olive Communications – Mark Geraghty, Rob Saffman (founders); Martin Flick (CEO).
BGF – Mark Nunny (investor).

Advisers
Equity – Stevens & Bolton (Legal); PwC (Financial due diligence); Grant Thornton (Tax).
Company – Wyvern Partners (Corporate finance); George Green (Legal).

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• Topics
• Expansion
• UK / Ireland
• Technology
• BGF (Business Growth Fund)
• United Kingdom