Cloud communications, 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.
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.”Matt Parker, CEO
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.