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Glamorgan Telecom Completes Management Buyout

The management team at Cardiff-based Glamorgan Telecom have successfully completed a full management buyout, with support from Finance Wales.

Managing director and majority shareholder Kelly Bolderson together with members of the senior management team have bought out founding director Neal Pughe’s stake to bring the company under the full control of the current board.

The move will enable Glamorgan Telecom to refinance its existing debt, complete a multi company MBO and see Finance Wales take a 15 percent equity stake in the group after providing the financial support needed to complete the process.

With the management buyout now completed, Glamorgan Telecom can begin to push forward its growth plans across South Wales and the South West.

Under Kelly’s leadership, the company is implementing an ambitious expansion strategy that will see revenue exceed £5m by the end of 2018.

To reach this target Glamorgan Telecom has grown its sales team by 40 percent, developed an enhanced range of product offerings and services which will ensure access to the latest technology on the market and expanded into new geographical regions.

Managing director Kelly Bolderson said, "The completion of the management buyout is hugely important for Glamorgan Telecom, this really is the beginning of a new and exciting journey for the business and we thank Finance Wales for their help and support during this process. With a full buyout in place, the management team has full control to guide Glamorgan Telecom into an exciting new chapter.

“We have seen significant positive change within our business over the last few years, and with the investment from Finance Wales we can continue with our expansion plans and ensure Glamorgan Telecom continues to be one of the leading telephony solution providers in the region.”

Stephen Galvin and Navid Falatoori structured the investment for Finance Wales and Patrick Gore from Hollis Gore Associates also played a key role in structuring the agreement, together with Mick Tinning from Hugh James Solicitors.

Stephen Galvin said: “Finance Wales is delighted to support Kelly and the management team. The company is by far the longest serving player in its field and its enduring brand is recognised in the market as a safe and respected partner to work with. With ongoing plans for growth, the business has exciting times ahead.”

The deal between Glamorgan Telecom and Finance Wales marks the latest investment from the Wales Management Succession Fund, a Welsh Government-backed £25m fund supporting business succession for growing Welsh companies.