Glamorgan Telecom in successful management buyout
Cardiff-based Glamorgan Telecom has just completed a successful full-management buyout agreement with the support of equity investment organisation Finance Wales.
Kelly Bolderson, the company’s managing director and majority shareholder, and members of her senior management team have bought out founder Neal Pughe’s stake in the firm.
As a result, they’ve also taken full control of the current board of directors. This move will allow the company to refinance existing debt, complete an MBO and see Finance Wales take a 15 per cent stake.
Now that the management buyout has been completed, the firm can begin with its plans to expand across South Wales and the South West of England.
Under Kelly’s leadership, company revenue is expected to surpass £5 million by the end of 2018. To reach this target, Glamorgan Telecom has grown its sale team by 40 per cent and developed new products.
Founded in 1993, Glamorgan Telecom provides telephony solutions to businesses across South Wales and the South West. It currently has 1,800 customers and 32 employees.
Speaking about the news, Bolderson said: “The completion of the management buyout is hugely important for Glamorgan Telecom, this really is the beginning of a new and exciting journey for the business.
“We thank Finance Wales for their help and support during this process. With a full buyout in place, the management team has full control to guide Glamorgan Telecom into an exciting new chapter.”
She added: “We have seen significant positive change within our business over the last few years, and with the investment from Finance Wales we can continue with our expansion plans and ensure Glamorgan Telecom continues to be one of the leading telephony solution providers in the region.”
Stephen Galvin and Navid Falatoori, who work at Finance Wales, structured the deal with the support of Patrick Gore from Hollis Gore Associates. Hugh James Solicitors also played a role.
Galvin said: “Finance Wales is delighted to support Kelly and the management team. The company is by far the longest serving player in its field and its enduring brand is recognised in the market as a safe and respected partner to work with.”