Enreach, a Waterland Private Equity portfolio company, has acquired Spanish telecommunications platform provider Masvoz for an undisclosed amount.
Enreach intends to broaden its European market base via the expansion into Spain and to increase its product portfolio, according to a statement.
Pemberton provided a debt package for the acquisition.
The GP acquired Enreach (then known as Within Reach Group), along with subsidiaries Eazit and Voiceworks, in July 2018. According to Unquote sister publication Debtwire, debt for the transaction was also provided by Pemberton. The acquired group merged with Waterland portfolio company Swyx following the investment. The new entity later acquired France-based cloud software developer Centile.
Waterland has drawn equity from Waterland Private Equity Fund VI for the investment in Enreach and for the add-on acquisitions.
Enreach acquired UK-based Network Telecom in October 2019.
Taking into account its recent additional acquisitions, Enreach will now have a turnover of more than €180m.
Waterland is also pursuing a buy-and-build strategy in the technology sector for its IT infrastructure portfolio company Netgo, as reported by Unquote.
Masvoz was founded in 2002 and provides telecommunications platforms and services for businesses, including VoIP (voice over internet protocol) and cloud communications. The Barcelona-based group has a headcount of 70 and more than 1,500 customers.
Enreach – Stijn Nijhuis (CEO).
Waterland Private Equity – Carsten Rahlfs (managing partner).
Equity – EY (legal, financial due diligence, tax); Intuitus (IT due dilligence).
GP formed the industrial maintenance, repair and overhaul firm in 2017 by merging IPH and Brammer
Sponsor submitted a 15x EBITDA offer to acquire Conet, two sources say
Vendor has delayed the process in order to build up visibility on its 2021 results, one source says
Idea Taste of Italy acquired a stake in Gelato d'Italia – then trading as Indian – in May 2016