The deal marks Babble’s third acquisition of the year
Cloud Comms, Contact Centre and Cyber solutions firm, Babble, has acquired Corporate Management Telecom ltd (CMT). The deal, which was funded by mid-market private equity investor LDC, is the third acquisition completed by the business this year as the management team continues to deliver its ambitious buy and build strategy.
Established in 1998 and based in Braintree, CMT provides business telephony and cloud-based services including voice, system hardware, IT and mobile to 500 customers.
Since Babble partnered with LDC in 2017, the business has delivered a combination of impressive double-digit organic and acquisitive growth including the purchase of Arden Group, Direct Response Plus, Diva Telecom and Lake Technologies. The business has more acquisitions in the pipeline.
Matt Parker, CEO at Babble, said: “This is a thrilling and defining time for Babble. As we continue to expand through acquiring high quality businesses, we are getting closer step by step towards our £100m revenue target. We focus on innovative and resilient businesses that are making interesting moves, and CMT fits perfectly within that category.”
Pascoal De Oliveira, Sales Director at CMT, said: “We are incredibly pleased to play a role in this ambitious period of growth for Babble and feel optimistic for the future of the business and industry.”
Chris Morris, Investment Director at LDC, said: “When we partnered with Babble in 2017, we had a clear plan to grow the business through a targeted buy and build programme. Over the last three years we helped the management team to scale the business significantly, and the latest acquisition will further bolster its offering across the UK.”
Since July 2018, LDC-backed businesses across the UK have acquired more than 45 companies with a total enterprise value of over £275million.
The Lucre Group
Babble is a leading technology business that is reimagining how we do work. Founded in 2001, the company has helped 2,000 customers with cloud-based solutions that enhance efficiency, flexibility and customer loyalty.
Since it was backed by private equity firm, LDC, in 2017, the company has grown through completing five acquisitions with high recurring revenues. It is on track to deliver on a revenue target of £100m. The business has over 10,000 cloud-based users, 10,000 mobile connections and 2,000 CCaaS seats.
Delivered through long-term client relationships, Babble offers three core solutions; Babble Comms drives efficiencies through cost saving and productivity improvements; Babble Contact increases customer engagement by enabling high quality, positive, productive and ultimately more profitable conversations with customers; and Babble Cyber embeds business resilience by delivering the best cloud-based tools and security available, allowing teams to work the way they want to work.
For more information, please visit https://babble.cloud/
About LDC www.ldc.co.uk/pressrelease
- LDC is the private equity arm of Lloyds Banking Group and is authorised and regulated by the Financial Conduct Authority.
- LDC has committed to invest £1.2bn in UK mid-market businesses over the next three years.
- LDC has a portfolio of 90 businesses across the UK, across a broad range of sectors including Construction & Property, Financial Services, Healthcare, Industrials, Retail & Consumer, TMT, Travel & Leisure and Support Services.
- LDC has a nationwide network of regional offices to provide a local presence to the businesses and communities it supports.