Following private equity backing from Chiltern Capital, Yorkshire headquartered unified communications provider The Technology Group (TTG) has joined forces with Gradwell Communications to form a new £17m turnover group.
Founded in 2013 and headquartered in Leeds, The Technology Group provides cloud-based telephone systems and business communications services to SME, mid-market, and enterprise-level organisations worldwide. Bath-based Gradwell Communications predominantly serves a smaller SME client base via a reseller model.
Both businesses will retain their brand identities and existing management teams. The Technology Group will continue to work directly with clients, whilst Gradwell will transition to a 100 per cent reseller business. TTG chief operations officer Michelle Atkinson will take on wider group responsibilities alongside Gradwell chief financial officer, Paul Mahoney.
Jonathan Marsden, The Technology Group founder and CEO, will retain an investment in the combined group and continue to head up the Leeds-based business, driving growth in conjunction with the Gradwell team.
He said: “This marks the start of an exciting new chapter of growth for our business and team. Joining forces with Gradwell will also enable our clients to benefit from the combined buying power of a larger group. And, as more and more companies move their business communications to cloud-based systems, we will have access to 25 dedicated developers who can help further tailor those systems to their specific requirements.
“I am incredibly proud of what we have created so far in our journey to become a market leader within our sector. When we started the business eight years ago, five of us in a small office in Leeds, I could only have dreamed of having nearly 1,000 customers using our solutions in over 30 countries around the world, as we have today.”
Gradwell CEO Simon Curry, who will lead the combined group, said: “TTG is a great strategic fit with Gradwell and gives the group clear capabilities to expertly provision and service larger customers with more sophisticated requirements.”
TTG were advised by London-based BDO and their Technology, Media, and Telecom M&A team, with local solicitors Progeny Corporate Law providing legal support, and Leeds-based Garbutt & Elliott providing tax advice.