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Solar Communications
Oakley advises Solar Communications on its sale to Wavenet
Sector:
Telecoms
Transaction Type:
Disposal
Date:
September 2018
Deal Value:
Undisclosed

Oakley Advisory Limited (“Oakley”), the independent corporate finance firm offering specialist advice across the TMT sector, has advised Solar Communications Group Limited (“Solar” or the “Company”) on its sale to Wavenet Limited (“Wavenet”).

Solar is a leading provider of unified communications services to SMEs and corporates across Europe. The Company was founded 30 years ago and has become one of the top 10 Mitel resellers in the UK, as well as being a Microsoft Silver Partner and a Summit Partner of Silver Peak. In more recent years, Solar has used M&A to fuel its growth, with two acquisitions in each of 2016 and 2017.

Founded in 2000 and headquartered in Birmingham, Wavenet is one of the UK’s market leaders in unified communications and business telephony solutions. Wavenet was acquired by Beech Tree PE in the summer of 2016 and has since made five bolt-on acquisitions including Solar. The deal to aquire Solar was signed on 30 August 2018 alongside a refinancing of the business which will enable Wavenet to enter the next phase of its buy and build strategy.

Oakley acted as sole financial advisor to the Company. The Oakley team comprised James Chapman-Andrews, Managing Director, Marc Horn, Director and Alexandre Beaudet, Analyst

James Chapman-Andrews, Managing Director at OAL, commented:

“We are delighted to have delivered a good deal for Mark, John and the Solar team. It was a great pleasure working with them as they looked at their options for the business before choosing Wavenet as the right home for Solar. We wish Wavenet very well as they embark on the next exciting phase of growth.”

Commenting on the sale process, Mark Colquhoun, Chairman and Founder of Solar, said:

“I would like to thank James, Marc and Alex for their great work and professionalism on this deal, I felt a high degree of commitment from them all and I was very pleased to have chosen them as our advisor. I believe the future for Solar and Wavenet combined is very exciting and look forward to taking up my position on the Board.”

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