Clearwater’s debt advisory team has advised Livingbridge one of the UK’s leading mid-market private equity investors, on raising finance to support the investment in Ireland’s fastest growing communications and IT-company Welltel.
Headquartered in Dublin, Welltel was founded in 2007 by CEO Ross Murray and Executive Chairman John Quinn. The company has since established itself as the largest, fastest-growing independent enterprise communications provider in Ireland, providing c.3,500 customers with market leading expertise in unified communications, contact centres, secure connectivity, managed IT services, remote working and phone systems.
Welltel’s experienced management team has supported the company’s rapid growth through transformational M&A; consolidating a fragmented Irish communications and connectivity market through six acquisitions to date. As a result, Welltel has built a reputation as an acquirer of choice in the sector, and has achieved widespread industry recognition. The firm has also continued to organically grow its portfolio of blue-chip enterprise and business customers, which includes the likes of Permanent TSB, Specsavers, Zurich and Northern Ireland Water.
The investment, made through the Livingbridge Mid-Market fund, builds on Livingbridge’s experience in the communications and IT services market, which includes the acquisition of leading data delivery network FluidOne last year and international cloud and connectivity provider M247.
Welltel follows Livingbridge’s previous investments in Mobysoft, CSC, Eque2, Four Eyes Insight and Kirona, all of which were advised by Clearwater.
Clearwater also provided M&A advice on this transaction.
