Beech Tree invested in Wavenet in 2016 after identifying the potential for growth and Wavenet's unique position as both an Internet Service Provider ("ISP") and Managed Service Provider ("MSP"). Over the past five years, Beech Tree has helped Wavenet to accelerate growth from £14M turnover in 2016 to over £60M in 2021, through a mixture of acquisitions and strong organic growth. There has also been significant investment made in the people, network, products and systems, which has resulted in Wavenet being able to support large scale enterprise solutions including their recent win of DVLA's contact centre and back-office.
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 strong growth has been supported by 8 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 the new partnership with HPE.
Paul Franks, Managing Partner at Beech Tree Private Equity said "We are delighted to have worked with Bill and the management team at Wavenet over the past five years. The business has grown substantially – both in scale and capability, including 8 bolt-on acquisitions. Wavenet is now one of the stand-out unified communications players in the UK market. I wish Macquarie and Wavenet every success for the future."
Bill Dawson, CEO at Wavenet commented: "I am extremely grateful for Beech Tree's support and advice over the last five years, the team have been integral in empowering the expansion and development which has resulted in our fantastic growth. As a team, we are excited to continue to build on this growth as we enter our new partnership with Macquarie. I am confident that the passion and quality of our people, management and infrastructure combined with Macquarie's experience will drive us to even greater success in the future."