10. Onecom
Deals announced in 2023: 2 (On-Site Connect – February, IMS Technology Services – January)
Appetite for M&A
This LDC-backed comms specialist continues to pick off smaller competitors with predictable regularity.
The Whitely-based outfit will “continue to acquire”, Onecom CEO Martin Flick stressed as it completed its acquisition of the UK customer base and operating assets of fellow Hampshire outfit On-Site Connect in February 2023.
This was the Samsung and Vodafone partner’s tenth deal since LDC invested in 2019.
Had we compiled this list in 2021, Onecom’s blockbuster acquisitions of 9Group and Olive that year would have ensured it was even higher up the standings.
This brace of deals helped boost its revenues from £92m to £169m in 2021 and lift its headcount to over 600 staff.
What they said
“The geographic proximity of the On-Site operation, and the complementary nature of the household name customer base with our existing customer family, make this transaction a perfect fit in our M&A strategy” – Onecom CEO Martin Flick
Fun fact
Onecom counts WD-40 among its customers.
