Firstcom Europe has announced that it has reached an agreement with Kartesia to extend and upsize its existing loan facility.
This transaction follows on from Kartesia’s initial investment in Firstcom during 2020. The enhanced financing package includes additional drawn and undrawn facilities that will be used to support further growth and diversification.
Over the past 10 years Firstcom has completed 14 acquisitions and now has an annual turnover of over €48 million.
Firstcom has developed a unified communications (UCaaS) system which offers SMEs enhanced voice services, softphones and SIP channels. The company currently operates in the UK, Germany, Sweden and Denmark.
Christian Bleakley, CEO, Firstcom Europe (pictured), commented, “We have built a strong relationship with Kartesia over the past four years and are pleased to continue working with the team.
“Our partnership has always been open and productive. I look forward, with their support, to accelerating our new business model which includes a broader range of products and enhanced cross selling.”
Nick Holman, partner and head of the UK and Ireland, Katesia, added, “We are delighted to continue supporting Firstcom, having seen the positive trajectory since we first partnered with the business four years ago.
“Firstcom has a strong reputation in the market and the additional capital provided through our investment will allow the business to deliver further organic growth, and to capitalise on an exciting pipeline of attractive M&A opportunities as it continues to expand.”