Mobeus uploads another high quality investment
Mobeus Equity Partners (“Mobeus”) is pleased to announce a £6million investment as part of the £14million management buyout of Entanet International Limited (“Entanet”), one of the UK’s leading independent wholesale voice and data communications providers. The investment will enable the business to continue to expand and help channel resellers to take advantage of the increasing demands from UK businesses for high quality Internet services and especially bespoke solutions.
The company provides a diverse portfolio of business class data and voice services via a network of over 2,000 wholesale and reseller channel partners in the UK. Headquartered in Telford and with over 80 staff, Entanet has built a strong market leading reputation through its consistent service quality, innovative thought leadership and absolute dedication to its channel-focused strategy which has been recognised through many leading industry awards including best Channel ISP in the Comms Dealer National Awards 2013 and Best Business Fixed Broadband provider at the 2013 ISPA Awards.
Entanet is led by Elsa Chen who has been responsible for the strategic development and growth of the business to revenues of c. £27 million. As part of the transaction, Mobeus has introduced Richard Atkins as investing Chairman. Atkins has significant telecoms experience and a strong track record in delivering growth in private equity backed businesses. Atkins was previously Non-Executive Director of Global Crossing UK plc, Morse plc and MessageLabs Group Ltd.
Ashley Broomberg, Partner of Mobeus commented: “When I first met Elsa Chen, I recognised a rare entrepreneurial talent. She has the energy and vision to take this business to another level and we are delighted that we have been chosen as Entanet’s investment partner to help Elsa and the rest of her management team achieve their ambitions.”