Telecoms business secures BGF cash
GCI Telecom Group, which has a base in Wakefield, has secured investment from the Business Growth Fund (BGF).
The telecoms and data services provider has received £10m of equity capital to support its organic growth and acquisition strategy.
GCI Com, which was founded by chief executive Wayne Martin in 2000, has a turnover of almost £65m and employs 220 staff across nine UK locations, including Derby, Shrewsbury, Salford, Wakefield, Wiltshire and London.
The group has grown rapidly since its formation with 19 strategic acquisitions in the past 12 years.
"BGF's investment is a major milestone for GCI Com. It gives us the opportunity to significantly build scale and service diversity at a time when our clients need it and the market conditions are ripe for growth," Martin said.
BGF was advised on the deal by Wragge & Co and BDO. GCI Com was advised by Eversheds, Latitude Partners and Intuitus.
