BUSINESS OVERVIEW

Wavenet is a specialist provider of unified communications solutions to the SME and corporate markets, including products and services across data connectivity, fixed and mobile voice, hosted voice.

Clients served include a wide range of businesses, from those with simple requirements through to corporates operating call centre and call handling operations where communications are mission critical.

The Orbis Team supported the process from start to finish with enthusiasm, professionalism and focus. Their help and support throughout was invaluable, it has enabled us to secure a great deal meeting the requirements of all stakeholders.

Chris Jones, Retiring Shareholder/Director

OUR ROLE

Orbis were initially mandated by the shareholders of Wavenet to identify trade buyers for the business. At early stages of the process, differing motivations in the shareholder base confirmed that a straight trade sale didn’t appear to be the most appropriate option. As a result, Orbis undertook a process to explore the option of a financial buyer.

Beech Tree invested £35 million to meet shareholder’s personal requirements and fund the future growth plans. The funding package provided by Beech Tree and RBS includes a war chest to support acquisitions.

Specifically, Orbis:

  • Spent time to understand the business, ensuring key selling points were identified and highlighted.
  • Identified potential trade buyers including a number of overseas parties through Clairfield.
  • Held initial discussions with Beech Tree to gauge levels of interest and their buy into a growth strategy.
  • Negotiated on price and terms to ensure the best deal for our clients.
  • Managed the preparation and presentation of detailed financial and performance information, including historic trend data.
  • Preparation of detailed monthly financial forecasts for a three-year period, incorporating profit and loss, balance sheet and cash flow, discussing, challenging and agreeing forecast growth assumptions with Wavenet management.
  • Prepared in-depth working capital and net debt analysis to maximise net proceeds at completion.
  • Worked alongside Wavenet’s tax advisor to ensure the transaction was structured and completed in the most tax efficient manner.

Orbis were excellent from start to finish.  Their input at all stages of the transaction was hugely valuable, the new funding solution puts Wavenet in a great position to realise its growth potential – I wouldn’t hesitate to use Orbis again.

Bill Dawson, Managing Director

For more info:

Sold to

Registered in England No.9098428 Registered Office: One Eleven, Edmund Street, Birmingham, B3 2HJ