Evolution Capital Advises PACE Telecom in its sale to Enreach UK.
Acquisitive European unified communications group Enreach, has strengthened its position in the UK telecommunications market through the acquisition of Pace Telecom. Established in 1993, Pace Telecom is a communications provider with over 1000 customers.
Evolution Capital was engaged by PACE Telecom in 2019 to prepare the business for sale, introduce the company to potential acquirers and manage the process to a successful conclusion. The sale of the business to Enreach represents a highly successful outcome after an in-depth and detailed process involving business analysis, preparation and execution of strategy.
Major Shareholder and CEO of PACE, Jamie Hughes said, “I am excited to see Pace Telecom join Enreach at such a pivotal time of growth and innovation for the group after being a partner for many years. At Pace Telecom, we have almost 30 years of experience in helping our customers to become more flexible and efficient through our solutions and joining Enreach will only help their businesses to grow even further. We look forward to achieving maximum success as part of Enreach.”
Pace Telecom is an excellent fit for Enreach, having been a customer of their Service Providers brand for several years and specialising in cloud telephony. By the end of 2021, Enreach expects to have launched an ambitious product roadmap to the UK market, covering its comprehensive group-wide portfolio. The acquisition of Pace Telecomm is an important part of this process.
Duncan Ward, CEO Enreach UK, said: “By adding Pace Telecom to Enreach here in the UK we are able to further improve on the products, services and the overall experience we provide our customers. Pace Telecom has been a partner of Enreach for Service Providers for several years and, with the team already confident taking our cloud platform to market, we are certain that we can build on this success. Together we will focus on our portfolio of cloud solutions, broadband and mobile, as well as the new products, integrations and platforms we are set to launch over the coming months. We are delighted for Pace Telecom to be joining us on this journey and for the expertise, the team will bring.”
Nigel Cook, Group Managing Director, said: “Jamie has engineered a fantastic result for shareholders, management team and the customers of Pace Telecom, who now will benefit from being part of the leading European UCaaS enterprise, backed with capital from the Pemberton and Waterland partnership. Evolution Capital is most pleased to have advised in this outstanding outcome for shareholders.” Nigel Cook, Group Managing Director