BGF dials in £7m investment to Mono Consultants

The fresh capital will enable Mono to provide its customers with the entire range of new services being initiated by technology change. The telecoms firm plans to accommodate the requirements of the continuing growth in 4G and the introduction of 5G.

This is BGF's third investment in Scotland in 2014, following on from a £3.4m capital injection into Edinburgh-based tax consultancy business Jumpstart and an £8.5m investment in Glaswegian formal wear rental business ACS Clothing.

Company
Headquartered in Glasgow, Mono has more than 200 staff located in eight operating offices across the UK and Ireland. The company took its present form in 2002, but its origins stem from the deregulation of the telecoms market in the mid-1980s.

Mono provides network support services to the UK mobile telecoms sector and is able to offer its network-operator clients a range of end-to-end support services, from acquisition and planning to site maintenance and project management. With annual turnover in the region of £30-50m, Mono is expected to continue in this vein with a £40m turnover forecast for 2014.

People
Brian Dougherty is the CEO of Mono. BGF investment director Duncan Macrae has joined Mono's board of directors.

Advisers
Equity – Campbell Due Diligence (Financial due diligence); Pinsent Masons (Legal).
Company – Vialex (Legal); Deloitte (Corporate finance).

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