Wavenet Group Holdings Limited (Wavenet), backed by Macquarie Capital Principal Finance (Macquarie Capital), has today announced the acquisition of OGL Computer Support Holdings Limited - a Worcestershire-based IT solutions, cloud services and cyber security provider - and its two subsidiaries OGL Computer Support Limited and CyberGuard Technologies Limited.
This transaction helps position Wavenet as one of the UK's leading IT support and managed service providers, serving thousands of small and medium-sized businesses and public sector bodies across the country. Wavenet provides support by guiding businesses through their digital transformation journey, improving efficiency, productivity, and profitability.
Wavenet was founded in 2000, with Macquarie Capital becoming a majority stakeholder in 2021. Macquarie Capital's partnership with the Wavenet management team has continued the company's growth story. As its fourth acquisition in the last 15 months, the OGL transaction exemplifies how Macquarie Capital supports businesses and management teams through strategic and financial expertise as well as providing significant follow-on growth capital, enabling them to continue to deliver on their strategic priorities.
Adam Joseph, Head of Private Equity for Macquarie Capital Principal Finance Europe, said: "We are very excited about today's transaction as it increases Wavenet's breadth of products bringing more of what our customers need. Providing next generation cloud services, IT support and cyber security will aid Wavenet's customers as they continue their digital transformation. Today's transaction also shows our commitment to help Wavenet's team with their strong growth trajectory through our flexible capital."
Bill Dawson, Chief Executive Officer at Wavenet, said: "It is an extremely exciting time for Wavenet. The acquisition of OGL IT and CyberGuard Technologies brings a wealth of knowledge and experience, enabling the Wavenet Group to broaden its offerings, and enhance the service provided to our customers. We continue to be grateful for Macquarie Capital's partnership and flexible capital support in enabling this next phase of growth for the Wavenet Group."
About Wavenet
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. Wavenet is a managed service provider and has long-standing partnerships with some of the top technology providers on the planet. Wavenet is a Premier Certified Cisco Partner, Microsoft Partner and holds Platinum Partner status with Mitel, Five9 and Silver Peak.
