Charterhouse further increases its geographic presence and skillset with the acquisition of Symity and DXP

Charterhouse Voice and Data (“CVD”) completes a strong FY20, closing the year with two strategic acquisitions.

London-based CVD provides unified communications (“UC”) and cyber security solutions to both a UK and international customer base of mid-market businesses, ranging from 200 – 10,000 seats. Since August Equity’s investment in November 2018, CVD has implemented a successful buy-and-build strategy, with the business first acquiring public sector focussed NETConnection Systems Limited in December 2019, followed by North West based UC business, Lloyds IP, in early 2020.

The first of the two recent acquisitions, Digital Exchange Products Limited (“DXP”), acquired in November 2020, provides further exposure to the North West, with a complementary geography to St Helen’s based Lloyds IP. The acquisition will be highly synergistic whilst adding high quality, blue chip customers such as Manchester City FC and Alder Hey Hospital to the Group.

CVD’s latest acquisition of Symity Limited (“Symity”) in December 2020 boosts CVD’s Microsoft presence, with Teams a key skill area, as well as increasing the group’s exposure to customers at the larger end of the SME market. The three Symity founders will continue in post to drive growth in the Symity business, bringing a wealth of knowledge and expertise to the wider CVD group.

Since August Equity investment, CVD has over doubled EBITDA and over tripled Revenues in line with the strategic initiative to expand CVD presence across the UK and further deepen its offering to include cyber security solutions alongside UC. Its successful debt facility raise in May 2019 has further supported the business in achieving its ambitious growth plans.

Following the recent Covid-19 pandemic, communications and cyber security have continued to increase in their importance. CVD’s ambitions have grown, with Management now increasing the buy-and-build focus, with the support of August Equity, whilst allowing time to further imbed investments made in systems and management.

August Equity Technology Partner, Mickey Patel, and Director, Kate Cook, led both acquisitions and are currently in discussions with a number of businesses across the UK that fit the strategic criteria.

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