LDC in £100m round for OneCom

The round consists of equity and debt funding, with Ares Management providing the credit element of the transaction.

OneCom founder Darren Ridge will remain a significant shareholder and will take on the role of non-executive director following the deal.

The fresh capital will enable the company to pursue an acquisitive growth strategy, expand its team and invest heavily in its technology infrastructure.

According to a statement issued by LDC, the business is looking to capitalise on continued convergence in the telecommunications space and the expansion of infrastructure owing to the rollout of 5G technology and "superfast" broadband.

LDC has introduced former MDNZ CEO Mark Thompson as chairperson at OneCom, while the GP's managing director and head of its London team, Yann Souillard, will also take a seat on the company's board of directors.

Company
Founded in 2002 and headquartered in Fareham, Hampshire, OneCom is a B2B provider of services including fixed-line telephone, broadband and cloud hosting. The business has a headcount of 400 people across 10 regional offices and 100,000 customers including Farrow & Ball, Thwaites, Celtic Manor and 118 UK. It also has partnership agreements with Samsung, Apple, Gamma, Mitel, Virtual1 and Vodafone.

People
LDC – Yann Souillard (managing director).
OneCom – Ben Dowd (CEO).

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• Topics
• Expansion
• UK / Ireland
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• United Kingdom
• LDC