July 2017 – GCP supports portfolio company Arrow with its 2nd acquisition in 2017
GCP supports portfolio company Arrow with its 2nd acquisition in 2017
Surrey – 26th July 2017 – Growth Capital Partners (‘GCP’) is delighted to announce that Arrow Business Communications (‘Arrow’) has completed the acquisition of Worksmart Technology Ltd (‘Worksmart’). This acquisition is part of Arrow’s buy-and-build strategy and is its 2nd acquisition in 2017. It follows the acquisition of Pulse Business Energy, a fast growing and award winning UK energy broker, in March 2017.
Worksmart is based in London and is a £4.7m telecoms value added reseller with over 350 customers. The company is particularly strong in the financial services and healthcare sectors and focuses on hosted and on-premise telephone systems as well as data connectivity.
Chris Russell, CEO of Arrow, comments,
“The key reason behind this acquisition is Worksmart’s expertise in delivering enhanced hosted voice platforms, which are becoming increasingly popular to customers wanting to migrate away from on-premise based solutions. Overnight we have doubled our number of hosted seats and connectivity sales and added depth to our technical and product offering. Worksmart is a great fit for us.”
This acquisition coincides with two new Board Directors, John Harber and Richard Burke, joining the company. Arrow has made nine acquisitions in just seven years and their strong leadership and business experience will be invaluable to the existing team as Arrow fully integrates these new acquisitions into the organisation and continues to expand.
Chris Russell, CEO of Arrow, continues,
“We started the year with three key objectives; to continue to acquire, to add resource to our senior team and to deliver our numbers. I am delighted to have completed our second acquisition in 2017, to welcome John and Richard to Arrow and, having won some significant new business this year, I am confident that we will exceed our profitability targets for 2017.”
Richard Shaw, Investment Director at GCP, comments:
“We are pleased to continue to support the Arrow team in the latest step of their buy-and-build strategy. Worksmart further strengthens Arrow’s capability in hosted voice and will support Arrow’s continued growth.”