Charles Russell Speechlys advises the shareholders of IP Solutions (UK) Limited (“IP Solutions”) on their sale and rollover arrangements in relation to the £5.74m investment in the business by Living Bridge.
9 December 2014
IP Solutions is a unified communications (‘UC’) provider, supplying SMEs and corporate businesses with an integrated range of communication technologies. Solutions are delivered through a range of communication technologies such as Hosted VoIP, Cloud Based Contact Centre, Inbound Call Management and Mobile Services and delivered as a Managed Service with a single point of contact and industry leading Service Level Agreements. These solutions enable organisations to improve customer service, increase staff productivity, efficiency and reduce operational costs.
Based in London, IP Solutions was established in 2001 by Keith Purves and Paul Richards. The business quickly established a solid customer base of SMEs and corporate clients ranging from 50-500 users. Customers come from sectors such as financial services, retail, recruitment, not for profit, healthcare and legal. Revenue in 2014 reached £6.4m.
As early adopters of hosted technology, IP Solutions supplemented its organic growth with key strategic acquisitions to strengthen its knowledge and experience and it is now one of the largest providers of hosted VoIP in the UK. The investment by Living Bridge will support management as they continue to expand into new geographies and build upon their excellent customer service and technical capability.
In October 2014 IP Solutions was recognised at the 2014 Comms National Awards (CNA’s) where they won Reseller of the Year, Best Contact Centre Solution for glh. Hotels and Best Hosted Solution for Murphy Construction.
The Charles Russell Speechlys team was led by private equity partner Adam Crossley with assistance from private equity associate Lee Holland and senior tax associate Jamie Crawford. Adam Crossley commented “We were delighted to work with Paul and Keith on this transaction, which represents an important step in the continued development of the business.”
Keith Purves commented “In our first major investment deal it was important we had the highest level of legal advice and through the whole process we found Adam Crossley to be extremely professional and diligent on every level giving us the confidence and comfort required to execute the deal ”.
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