Apiary backs G3 Comms in MBO

G3 Comms' management team will reinvest alongside the GP and retain a minority stake in the business, Unquote understands.

Apiary will provide additional follow-on funding to enable the company to accelerate its growth both organically and through acquisitions. The GP told Unquote that its total commitment amounts to around £13m, including additional capital for further add-ons.

The GP deployed capital from its maiden fund, Apiary Capital Partners I, which closed on £200m in June 2018. The vehicle invests in UK-based lower-mid-market companies operating in the business services, education and healthcare sectors.

In addition to the equity drawn down from this fund, a debt package was provided by Santander to support the deal, Unquote understands.

Company
Established in 2002 and headquartered in London, G3 Comms specialises in unified and cloud communication technology, systems integration and contact centres. The company supports its clients on their digital transformation and communication technology development, and has four main areas of expertise: business integration, global network, 4D services and global deployment and support.

In addition, G3's core network infrastructure provides resilient global voice and data services to customers with business-critical connectivity requirements.

The company generated EBITDA of £2m from revenues of £18m in the financial year to April 2018 and expects to increase both figures by 10% in 2019, Unquote understands.

People
Apiary Capital – Nicki Boyd (partner).
G3 Comms – James Arnold-Roberts (CEO).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• UK / Ireland
• Support services
• Technology
• Apiary Capital
• United Kingdom