Portfolio News

Connect Managed Services heralds record year

Connect Managed Services (“Connect”) has announced record financial results for the year to December 2017 as the firm targets further growth.

The business, which specialises in customer experience (CX), and unified communications (UC) technologies and services, achieved total revenues of £21m in its latest financial year, up from £13.3m the previous year. Over the same period, total EBITDA increased by 77 per cent to £2.3m from £1.3m in 2016.

Connect delivers 24/7 high-availability and pain-free transformation of business-critical CX and UC environments for global businesses including BP and Johnson & Johnson. The business was backed by LDC in a multi-million-pound management buyout in 2014 and since then has undergone a targeted buy-and-build strategy, completing three acquisitions which have extended the business’ reach and product offering.

In February 2018, Connect acquired Amazon Connect specialist CoolHarbour, as well as the assets of UVN’s US-based technical and engineering support teams, thus extending its on-the-ground presence in the North American market.

This followed the acquisition of PC-1, which manages some of the largest contact centres in the UK for customers such as the NSPCC, Northumbrian Water and Vodafone in July 2017. The transaction also strengthened Connect’s Cisco capability, with the business being accredited (alongside Connect) as an Advanced Technology Partner (ATP).

Trading for the first quarter of 2018 has increased by 84 per cent year-on-year, driven by a strong pipeline of new business across all channels and buoyant market conditions, as the demand for digital transformation of CX and UC becomes increasingly central to businesses’ operations.

Alex Tupman, CEO of Connect Managed Services, said: “We are truly vendor agnostic, which enables us to deliver consultative solutions to our clients across the world. This, together with our world class, proprietary monitoring, automation tools and global service offering is central to our success to-date.

“Partnering with LDC has given us the resource and expertise to laser focus on executing a clear growth plan, helping to scale our business through investment in research and development, along with pursuing a targeted programme of acquisitions. We’re now a business of truly international scale, with a platform for further expansion after achieving a record year.” 

Chris Coulton, portfolio director at LDC, added: “The significant growth and success of the business is testament to the hard work and ambition of Alex and his team. They have increased their overseas reach and presence, whilst firmly establishing themselves as a key player in the UK market. With a healthy pipeline of activity in place, the business will continue to go from strength-to-strength.”

Article Footnotes

Notes to Editors

  1. LDC is part of the Lloyds Banking Group and is authorised and regulated by the Financial Conduct Authority
  2. LDC back ambitious management teams from UK-based companies seeking between £2m and £100m of equity for management buy-outs, institutional buy-outs or development capital transactions.
  3. LDC invests in a broad range of sectors and has particular experience in Construction & Property, Financial Services, Healthcare, Industrials, Retail & Consumer, TMT, Travel & Leisure and Support Services.
  4. LDC has a UK regional network of 9 offices.