2. Wavenet
Deals announced in 2023: 3 (Axial Systems – June, Adept – February, Fidus Information Security – February)
Appetite for M&A
Unified comms specialist Wavenet has been one of the UK channel’s most prolific acquirers in recent years under successive private equity backers.
Since Macquarie Capital replaced Beech Tree in 2021, the Birmingham-based Cisco, Microsoft and Mitel partner has only ramped up its rate of expansion.
Most notably, its February 2023 takeover of AIM-listed peer Adept propelled its pro-forma revenues to over £200m (compared with £60m in its fiscal 2021).
Then in March, Wavenet acquired £14m-revenue network security reseller Axial Systems from administration (a move it only publicly announced in June).
In a busy couple of months, it also announced the acquisition of Fidus Information Security, a Cambridge based advanced penetration testing consultancy, in February.
What they said
“This acquisition is a hugely exciting step for Wavenet, creating a combined business with over £200m of revenue. AdEPT’s business is complementary to Wavenet and enhances its position in attractive end sectors such as education”, – Wavenet CEO Bill Dawson
Fun fact
Wavenet claims to be investing in a 100% electric fleet.
