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Oakley advises Wavenet on its sale to Macquarie Capital
Transaction Type:
May 2021
Deal Value:

Oakley Advisory Limited (“Oakley”), the independent corporate finance firm offering specialist advice across the TMT and Online sectors, has advised Wavenet on its sale to Macquarie Capital.

Formed in 2000, Wavenet has grown to become a respected, multi-award-winning provider of telecoms and technology solutions to thousands of businesses and enterprises across the UK. Providing data, voice, contact centre, IT and technology services to over 8,000 SME and enterprise customers, Wavenet has offices in Solihull, Chester, Norwich, Cardiff, St Albans and Nottingham and employs over 200 people, including over 100 trained support staff and engineers.

Wavenet’s rapid growth has been supported by eight acquisitions targeted at augmenting the company’s rich portfolio, increasing the number of highly skilled technical staff and strategically expanding its presence across the UK. Wavenet’s most recent acquisitions of VIA, Townley and Qubic have provided the infrastructure to deliver a comprehensive suite of connectivity, cloud and cyber services and confidently move into the ITaaS space, supported by a new partnership with HPE.

The transaction represents an exit for majority shareholder Beech Tree Private Equity, who invested in 2016 and have supported Wavenet through a transformational development period.

Macquarie Capital is the advisory, capital markets and principal investment arm of Macquarie Group.

Oakley acted as sole financial adviser to Wavenet.

The Oakley team comprised Chris Godsmark, Ed Wirgman and Oliver Temple.

Ed Wirgman, Managing Director at Oakley, commented:

“It has been a pleasure to work with Wavenet and Beech Tree on this transaction. The team have created a market leading platform in UC and cloud services, consistently at the forefront of innovation in the market and Macquarie represent a great partner for the next stage of Wavenet’s journey. The transaction continues Oakley’s long-established record of achieving leading deal outcomes for UK ICT businesses and momentum in acting as sell side advisers to Private Equity clients”

Paul Franks, Managing Partner at Beech Tree, commented:

“Wavenet has been a real success story in the sector and we wanted an adviser the Board was confident would deliver. We appointed the Oakley team due to their outstanding track-record as a sell side adviser in this area of the market and they have delivered a great result for the shareholders. We would like to thank Oakley for their invaluable advice and support throughout the transaction”

Bill Dawson, Wavenet CEO, commented:

“Oakley played a pivotal role in the success of our deal. We chose to work with the team based on their extensive track record and success in our market, the quality of their investor relationships and their hands-on approach to advice. The Oakley team genuinely became part of our team throughout the process and I’d like to thank Chris, Ed and Oliver for all their hard work. We’re delighted with the outcome”

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