Wavenet Gets New Private Equity Backing
Wavenet has secured new financial backing from Macquarie Capital Principal Finance, marking a shift in its ownership structure. The deal sees Macquarie replace Beech Tree Private Equity as the majority stakeholder in the fast-growing telecoms provider. Company leaders have welcomed the partnership, highlighting plans for further expansion.
Before this agreement, Wavenet was majority-owned by MML Capital Partners until a 2024 transaction. Beech Tree Private Equity later took a controlling stake, overseeing significant growth during its tenure. Under their investment, Wavenet’s revenue climbed from £14 million in 2016 to £60 million in 2021.
The company has also expanded its services and UK presence through strategic acquisitions, including VIA, Townley, and Qubic. This track record of growth attracted Macquarie, which already holds a stake in another telecoms specialist, KCOM.
Bill Dawson, Wavenet’s CEO, thanked Beech Tree for its support and expressed enthusiasm for the new partnership. Paul Franks, Managing Partner at Beech Tree, praised the company’s progress under their investment. Meanwhile, Adam Joseph, Head of Private Equity for Macquarie Capital Principal Finance Europe, described his delight in working with Wavenet’s team. Macquarie aims to accelerate the firm’s growth through further acquisitions.
The deal positions Wavenet for continued expansion with Macquarie’s backing. The new partnership is expected to strengthen the company’s market presence and drive further acquisitions. Macquarie’s experience in the telecoms sector could play a key role in Wavenet’s next phase of development.
