The Newcastle upon Tyne-based Bluebell Telecom provides voice and data services to business customers services in sectors such as retail and hospitality. The funding was sought to expand and incorporate the network based telecoms provider Callstream into the newly formed Bluebell Telecom Group.
Mick Crosthwaite, joint MD of Bluebell, comments: ‘We elected to work with both YFM Private Equity and Octopus in order to provide access to an innovative combination of debt and equity which will support our buy and build strategy moving forward.’
Nigel Barraclough, investment director at YFM Private Equity, says: ‘We look to invest in fast growing businesses at a transformational stage in their development and Bluebell is a good example of this.’
Bluebell Telecom Group is aiming to become the latest big player in the telecoms buy and build game after snapping up telephony services firm Callstream.
Over the last five years, Newcastle-based Bluebell has grown annual sales from £1m to £11m. The buy out of Warwickshire-based Callstream is the first deal Bluebell has closed since availing itself of an acquisition war chest from YFM Private Equity, Octopus Investments and NatWest.
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