Growth Capital Partners announces a further two bolt-on acquisitions for portfolio company Arrow Business Communications
GCP is delighted to have supported Arrow in its acquisitions of Abica Ltd and its subsidiary PCR IT Ltd and European Utility Management Ltd (EUM), an Energy broker specialising in the property sector. GCP’s partnership investment in Arrow in August 2016 was focused on supporting the ambitious buy and build plans of the experienced management team and 7 acquisitions have now subsequently been successfully completed.
Arrow specialises in telephony, data, IT and energy solutions for businesses. It offers a diverse product range from hosted telephony and mobiles through to mobile device management, telephone systems, IT services, voice and data connectivity.
The acquisition of Abica and PCR who are leading Scottish providers of Telecoms and IT services with offices in Glasgow, further expands Arrow’s significant presence in the Scottish market. They also bring 650 customers as well as a range of solutions covering Connectivity, Mobility, IoT, and Unified Communications for both private and public sector organisations.
The acquisition of EUM adds further scale and resources to the existing Pulse business, which is already an award-winning technology enabled B2B energy broker within the Arrow group.
Richard Shaw, Partner, GCP commented:
“We greatly enjoy working with the Arrow team and are delighted to continue to support their ambitious growth plans and to welcome the Abica and EUM teams to the group. The seven acquisitions now completed since our initial investment are testament to the excellent partnership we have built with Arrow and the fantastic efforts throughout the business both in completing these transactions and continuing to drive impressive organic growth across the significantly enlarged group.”
Chris Russell, CEO of Arrow, commented:
“We are delighted to have completed these two transactions and the associated banking facilities and we really appreciate the active role that GCP, and specifically Richard Shaw and James Handley, have played in making this happen as part of our acquisition team. GCP have backed us from the start and were supportive and insightful throughout this recent process and I doubt whether we would have completed these transactions without their tireless efforts”