Vodat, a leading provider of private networks in the UK, has undertaken a significant expansion by acquiring the IT services firm Axonex.
This acquisition, backed by Maven Capital Partners, is set to enhance Vodat’s service offerings, leveraging the combined capabilities of both companies.
Communications group Vodat, known for providing private networks to sectors such as retail, hospitality, and leisure in the UK, has acquired IT services firm Axonex. This move signifies a strategic expansion backed by Maven Capital Partners, positioning Vodat to offer an even broader range of services to businesses in the UK.
Vodat’s new acquisition, Axonex, will continue to operate from its Cheltenham office, while Vodat maintains its base in Stockport. The integration of these entities promises to enhance service offerings, particularly through the combined skills and capabilities of both companies.
Vodat has built a strong reputation in the UK market, providing secure data networks, cloud services, Wi-Fi, IP telephony, disaster recovery, and security solutions. By acquiring Axonex, a company with a parallel focus on customer service, Vodat aims to augment its service portfolio significantly.
Neil Poultney, Vodat’s managing director, expressed optimism, citing the complementary nature of Axonex’s services. “Like Vodat, Axonex have an excellent reputation with customer service at the heart of everything they do,” stated Poultney.
The acquisition will see little change in the operational structure, with Axonex’s three director shareholders remaining with the business. This continuity is crucial for maintaining the high standards of service that both Vodat and Axonex’s clients have come to expect.
Additionally, Axonex’s shareholders will become shareholders in the enlarged Vodat group. This strategic decision is aimed at fostering a seamless integration and leveraging the combined expertise of both teams.
The acquisition was facilitated by a seven-figure funding package from HSBC Commercial Banking. Such substantial financial backing underscores the confidence in the strategic merits of this acquisition.
Advisory services played a significant role in the successful completion of the transaction. Accountancy firm RSM advised the Vodat shareholders, while Ward Hadaway provided legal counsel, ensuring that all aspects of the deal were thoroughly examined and executed.
Axonex has experienced significant growth in the past year, doubling its headcount and moving to new offices. Its revenues have increased by 68%. This acquisition will likely further bolster its growth trajectory.
Andy Peters-Smith, Axonex’s managing director, remarked, “These are very exciting times for Axonex. There are clearly synergies for both companies which can only enhance the services for our customers.”
The merger promises substantial benefits for the existing customer base of both companies. Clients can expect a more comprehensive suite of services, combining Vodat’s communication solutions with Axonex’s IT expertise.
With the combined resources and extended skill set, the enlarged group is well-positioned to win new business and explore new markets. This strategic move is set to enhance service delivery and drive future growth for the combined entity.
The acquisition of Axonex by Vodat marks a pivotal moment for both companies, promising enhanced offerings and significant growth.
With strategic backing and combined expertise, this merger sets the stage for future success and market expansion.