Telecoms firm secures Mercia backing for MBO
Wed, 12 Jul 2023 | MBO/MBI
The One Point, a Hull-based company providing managed IT and telecoms services, has secured a £1.4 million debt funding package from Mercia, which it will use to complete a management buyout (MBO) and to help finance the next stage of its growth.
The funding was secured via Mercia’s SME Loans fund and NPIF – Mercia Debt Finance, part of the Northern Powerhouse Investment Fund (NPIF) managed by Mercia.
The MBO will see founder Martin Lauer take on a majority shareholding in the company and enable the firm’s partner, managed print and digital services provider Spectrum, to exit the business in order to focus on its own digital growth strategy.
The One Point was founded in 2005 and, in addition to its Hull base, has offices in Newcastle and Cleckheaton. The company operates as a single point of contact for companies seeking cybersecurity, digital services, internet-based phone systems, IT services and support, CRM systems, apps, data and mobile solutions.
Amid soaring demand for outsourced IT services, the company has grown its overall turnover by approximately 65 per cent over the past five years. Revenues for its managed IT operations, meanwhile, have grown 79 per cent in just the past two years.
Commenting on the MBO and new funding, Martin Lauer said: “With an increasing number of companies outsourcing IT services, our business has been growing rapidly. With the backing of Mercia and npif, we can now focus on meeting this growing demand and strengthen our presence in the region, particularly in Yorkshire and the North East, to take the business to the next level.”
Mercia’s Rebecca Pickering said that the funding would enable Lauer to “take full control of the business and allow both parties to pursue their separate growth strategies.”
The growth of the UK telecoms sector over recent years has been mirrored in its active dealmaking environment. Find out more in this in-depth insight on M&A activity in the telecoms industry.
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