Oakley Advisory Limited (“Oakley”), the independent corporate finance firm offering expert specialist advice across the TMT sector, has advised Beech Tree Private Equity (“Beech Tree”), on its £35 million management buyout of Wavenet Limited (Wavenet), a unified communications, cloud and connectivity provider, supplying SMEs and corporate businesses with an integrated range of communication technologies.
The Oakley team was led by Christian Craggs, Managing Director and assisted by Anthony Yaneza, Assistant Director and David Rogers, Associate.
Based in the Midlands, Wavenet provides a comprehensive suite of communications solutions including voice and data, cloud and managed services and unified communications to customers across the UK. Wavenet has a strong and consistent track record of organic and inorganic growth and is highly cash generative.
Beech Tree, a mid-market private equity investor, will take a substantial stake, alongside the management team, in the business following the transaction.
Wavenet will continue to seek to acquire accretive bolt-on businesses under Beech Tree’s ownership.
“We are delighted to have advised Paul Franks and Adam Rudd on their investment in Wavenet. The opportunity to build on the previous growth and success of Wavenet is significant. We look forward to working with Beech Tree and Wavenet in the future as they execute their organic and inorganic strategy.”
Managing Director, OAL
Oakley Advisory Limited (“OAL”) is one of Europe’s leading independent corporate finance firms offering expert, specialist advice across a range of sectors including Telecoms, Technology, Online, Media, Datacentres and Hosting. We are unique in the mid-market in offering highly specialised sector insight and knowledge combined with our Equity Capital Markets capability, meaning we can provide the fullest possible suite of advice across both public and private markets.
Wavenet is the latest in a series of high profile UK telecoms deals for Oakley in 2016 after advising Optimity Limited on an investment by FPE Capital, Southern Communications on an investment by Livingbridge, KCOM on the sale of its core fibre network to Cityfibre Plc and advising Maintel plc on its acquisition of Azzurri. In addition, during 2015 we acted on 15 TMT transactions making Oakley Advisory one of the most active mid-market advisers by volume and value of deals.