Evolution Capital advise on the sale of Pescado Group to Arrow Business Communications
Market leader in bespoke business communications, Pescado, has been acquired by Arrow Business Communications in September 2021. Founded in 2006 by Group Financial Director, Jonathon Weeks and Group Managing Director, Fraser Watson, Pescado is a highly profitable leading national mobile, hosted and IT solutions provider with first-rate network accreditations based in the north-west. Arrow, operating out of eleven offices across the UK specialises in solutions for businesses encompassing Collaboration, Connectivity, Cyber Security and Cloud and Infrastructure Managed Services.
Evolution Capital’s Transaction Services Director, Duncan Gregory said, “We have been delighted to collaborate closely with the team at Pescado over a very bumpy period for business globally thanks to the Covid pandemic. The company was a compelling proposition, and we were pleased to help them achieve such a great strategic fit which will ensure an exciting future as part of Arrow Communications.”
Evolution Capital’s over-arching review of the company gave an early indication of value which led to preparation for sale just before the first nationwide lockdown. Gregory said, “No-one could predict at that time whether buyers would retreat as a result of the unusual events but, given our industry knowledge and expertise, we were able to maximise value despite a challenging macro-economic period. We are delighted for all parties.”
Pescado’s Fraser Watson said, “Duncan and Sam at Evolution Capital educated us throughout the whole sales process which we were naïve about to begin with. They always kept us very informed and prepared us, along with the business, right from the start on how the following weeks and months were likely to unfold. Both of our main contacts at Evolution Capital left no stone unturned and were available to us for support and guidance at any time. We saw a number of advisors before we settled on Evolution Capital but chose them because we were so impressed by their incredible in-depth knowledge and understanding of our complex industry.”
Jonathan Weeks agrees and adds, “We were warned that selling our company could be painful at times – and it was – so we were so glad that we had the support of Evolution Capital who walked closely beside us throughout the whole journey. We have already recommended them for their exemplary professionalism and wouldn’t hesitate to do so again.”
CEO at Arrow Business Communications, Richard Burke comments, “I’m really looking forward to welcoming the vastly experienced Pescado team to Arrow and working alongside them to drive the organic growth of some key solution areas across the Group. Their sales-focused mentality, combined with Arrow’s broad product offering and expertise, will significantly enhance our ability to win in the marketplace.”
For further information contact Georgia Cook, Marketing Manager, Evolution Capital