2018

Year

Sell-side

Transaction Type

Technology

Sector

Indigo Telecom Group

Client

Growth Capital Partners LLP

Acquired By

Indigo Telecom Group / Growth Capital Partners LLP

Cavendish Corporate Finance (“Cavendish”), is delighted to announce that it has advised the shareholders of Indigo Telecom Group (“Indigo”) on its sale to private equity investor Growth Capital Partners (“GCP”). The sale represents a landmark for Cavendish, as its first transaction since becoming part of finnCap Group plc.

Indigo is a leading provider of multi-vendor managed and project services to international telecom network operators, equipment vendors and multi-national corporations. Indigo designs, installs and maintains telecom networks across the globe, enabling its clients to deliver fixed line, broadband, mobile and other data services to a wide variety of corporate, enterprise and consumer end users.

The Group’s heritage can be traced back to 1997 and following a management buyout led by CEO Stephen Thompson in 2016, the business initiated an M&A strategy with its first acquisition Belcom247, a specialist provider of data centre connectivity solutions. Today, Indigo boasts a wide range of telecom services for an array of global blue-chip customers.

The transaction provides a full exit for Maven Capital Partners and YFM Equity Partners, who originally invested in 2016, and partners the business with an investor that can accelerate management’s growth plans and buy-and-build strategy.

GCP’s investment will provide hands on support and significant added value to Indigo Telecom Group’s buy-and-build strategy, through assistance in sourcing of targets, deal negotiation and structuring and funding support.

Stephen Thompson, CEO of Indigo Telecom Group, said:

“I am delighted that GCP has become a major investor in our business and we look forward to working in partnership with them in order to help Indigo continue to develop and grow. GCP has an excellent reputation for supporting UK SME businesses with their international growth plans, and we welcome their support, experience and enthusiasm. It was clear from our early meetings with the GCP team that they fully understood and were supportive of our ambitious plans for growth including a number of future strategic acquisitions to complement and expand our global services portfolio.”

Richard Shaw, Partner at GCP, said:

“Indigo has a long track record of exceptional delivery and differentiation through its commitment to flexible customer service, breadth of service offering and its wide geographic footprint. This enables the group to provide critical infrastructure support to an impressive roster of international network operators and technology enterprises, who rely on their high-quality managed services capabilities. We are delighted to be partnering with the Indigo team and look forward to supporting the next phase of accelerated growth.”

The Cavendish team was led by Jon Edirmanasinghe, Partner at Cavendish, who commented:

“We were delighted to advise the shareholders of Indigo Telecom Group and to have found in GCP the right investor to take the business to its next stage of growth. This transaction will help Indigo implement its strategic expansion plans and enable the company to meet the needs of its growing customer base, drive the growth of its telecom services and increase its presence globally. Congrats to the various stakeholders on this result and best of luck in the future.”

Key Contacts

Jon Edirmanasinghe

Partner

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John Farrugia

Partner & Head of Technology

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Mike Dinsdale

Associate Director

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