LDC-backed Onecom buys Glamorgan Telecom Group

LDC-backed Onecom has acquired Glamorgan Telecom Group, a communications and connectivity provider in Wales and South West England.

LDC-backed Onecom has acquired Glamorgan Telecom Group, a communications and connectivity provider in Wales and South West England. No financial terms were disclosed.


Onecom, the UK’s largest independent business telecommunications provider, has acquired the Glamorgan Telecom Group for an undisclosed sum as part of an ambitious strategy designed to significantly expand the business over the next three years.

The acquisition will see the multi-million-pound revenue Glamorgan Telecom Group become a Onecom company with its senior leadership, including chief executive officer Kelly Bolderson, remaining with the business. The deal represents the first of a number of acquisitions planned by Onecom, led by former O2 executive Ben Dowd, after it secured a £100million funding package from LDC and Ares Management Corporation last year.
The acquisition of the Cardiff-headquartered group will strengthen Onecom’s presence in South Wales and the South West, and offers significant cross-selling opportunities as it combines Glamorgan Telecom’s established fixed-line telephony offer with its market-leading mobile and cloud-based services.

Founded in 2002 and headquartered in Fareham, Hampshire, Onecom has doubled its revenues over the last five years. It employs roughly 400 people across seven regional offices and its partners include Samsung, Apple, Vodafone, Mitel and Gamma. The UK’s business-to-business mobile telecoms market is growing by four per cent each year, and acquisitions are set to provide Onecom with additional scale in a growing market.
A recent winner at South Wales Chamber of Commerce’s Welsh Business Awards, Glamorgan Telecom Group has grown significantly in recent years having completed a management buy-out in 2017. The 2017 buyout was funded by the Development Bank of Wales who have supported Glamorgan Telecom Group since then.

Ben Dowd, chief executive officer at Onecom, said: “The telecommunications sector is playing a crucial role in supporting the operational resilience of businesses across the UK and will continue to do so as we look ahead to an increasingly digital economy over the next three years. SMEs spend as much as £8billion a year on telecoms and connectivity which will ultimately fuel and accelerate our growth. LDC’s investment has already provided us with major impetus and further strategic acquisitions will undoubtedly complement the high level of organic growth we plan to deliver as we scale and diversify our services.

“Kelly and the Glamorgan Telecom team have achieved an outstanding reputation as a market leader, regionally, and I’m looking forward to working with them as part of Onecom to strengthen the business’ already-enviable offer for its customers.”

Yann Souillard, head of London at LDC, added: “Strategic acquisitions have been a core component of Onecom’s growth strategy since we backed the management team in 2019. Bringing Glamorgan Telecom into the fold is an important milestone that will help both organisations take advantage of a rising demand for their services, an extended geographical reach and new cross-selling opportunities.”

Kelly Bolderson, managing director at Glamorgan Telecom, said: “Onecom’s capabilities in mobile services will enable us to capitalise on those opportunities swiftly and support our customers in more ways than ever before.”

LDC actively supports the buy and build strategies its portfolio businesses are pursuing. Since July 2019, LDC-backed businesses across the UK have acquired more than 45 companies with a total enterprise value of over £275million. Currently more than one-third of LDC’s existing portfolio businesses are looking to grow through acquisition.

Onecom was advised by PwC and CMS, while the Glamorgan Telecom Group was advised by Gambit Corporate Finance and Capital Law.

About Onecom
Onecom is the UK’s largest independent business telecommunications provider, operating from seven regional offices across the UK. The company currently manages nearly 100,000 business customers, delivering communication services and unified solutions across fixed line voice, connectivity and cloud computing to some of the UK’s most dynamic companies. Its customers include Farrow & Ball, Thwaites, Celtic Manor and 118 UK Ltd.

In 2019, it secured a £100million funding package from mid-market private equity firm LDC and funds managed by Ares Management Corporation to help support organic and acquisitive growth.

Recent awards include the ‘Best Customer Service Award’ at the Mobile News Awards; ‘Best Unified Comms Dealer’ at the Mobile Industry Awards, and it has been named Vodafone Total Communications Partner of the Year for the last five years.

About Glamorgan Telecom Group
Established in 1993, Glamorgan Telecom Group is one of the leading communications and connectivity providers in Wales and South West England. Its products and services include business telephone systems, related maintenance, hosted voice and mobile and data connectivity.

About LDC
LDC is the private equity arm of Lloyds Banking Group and is authorised and regulated by the Financial Conduct Authority.

LDC has committed to invest £1.2bn in UK mid-market businesses over the next three years.

LDC has a portfolio of 90 businesses across the UK, across a broad range of sectors including Construction & Property, Financial Services, Healthcare, Industrials, Retail & Consumer, TMT, Travel & Leisure and Support Services.

LDC has a nationwide network of regional offices to provide a local presence to the businesses and communities it supports.

For further information, visit www.ldc.co.uk/pressrelease