Entrepreneurs’ Relief reform – the Evolution Capital take on the 2020 budget
Home Contact Us Home-version 2 Service page About Us Office Location Post template Home Contact Us Home-version 2 Service page About Us Office Location Post template Entrepreneurs’ Relief reform – the Evolution Capital take on the 2020 budget Acquisition Strategy, Blog December 2, 2025 Yesterday’s budget signalled just how serious a threat to the British economy the coronavirus crisis has become. New chancellor Rishi Sunak’s announcement of the biggest budget giveaway for almost 30 years, including £12bn of immediate measures for the NHS, public services and small businesses in a coordinated move with the Bank of England, had to be funded by something and it seemed entrepreneurs were to pay the price. One of the most significant revenue raisers came from the decision to limit Entrepreneurs’ Relief, which Sunak described as “expensive, ineffective and unfair”. He said the lifetime limit would be reduced from £10m to £1m, a move that will raise £6bn. Paul Davies, M&A adviser at Evolution Capital, commented: “The reform to Entrepreneurs’ Relief was expected as the benefits fell to very few people. Indeed, for larger businesses, the relief has effectively been removed. From our research at Evolution Capital, we do not feel that there will be a material impact on business valuations at the point of sale. M&A activity in the TMT sector remains buoyant and we have a number of buyers who continue to be interested in acquiring high quality businesses with strong recurring revenues. Such businesses are still in short supply and remain attractive to potential purchasers.”The tax break had previously been heavily criticised by economic think tanks including the Institute for Fiscal Studies and the Resolution Foundation, who said it was not well targeted and caused distortions in the tax system. Entrepreneurs’ Relief, which halves the capital gains tax paid when people sell their businesses, was introduced by Gordon Brown’s Labour government in 2008 in a bid to incentivise people to create new businesses and was expanded by the Conservative government after 2010. However, it is said to benefit just 4,000 business owners a year, who tend to use the tax relief as a retirement pot, rather than stimulating new start-ups. It costs the Exchequer an estimated £2.7bn a year to operate without stimulating start-up business. Under Sunak’s revamp, the relief on capital gains tax when selling a business was significantly scaled back. Business sellers will pay 10% on lifetime gains of up to £1m, compared with the previous upper limit of £10m. Above £1m, business owners will be charged standard capital gains tax rates, which is 20% for higher-rate taxpayers.Sunak said fewer than one in 10 claimants said the relief had acted as an incentive to set up their business, and almost three-quarters of the cost went to 5,000 people. Indeed, it is said some 80% of small business owners would be unaffected by the change. The money raised by the Entrepreneurs’ Relief reform will be used towards other measures to help businesses, including an increase in the tax relief available for businesses investing in research and development, or buildings and structures. The employment allowance, which small businesses can apply for and put towards employer national insurance contributions and first introduced by George Osborne in 2014, will be increased by a third to £4,000.The tax reform was praised by Mike Cherry, the chairman of the Federation of Small Businesses as a “sensible compromise”. However, many business owners will find the decision a tough one to accept. Some argue there is a risk the reform will dis-incentive business owners to sell and would deny any reward for entrepreneurs who have taken risks and experienced hardship during the set-up phases of running their businesses. Miles Dean, head of international tax at Anderson Tax UK, claimed Entrepreneurs’ Relief was an “easy target” and that it sent out a negative message to people setting up new businesses.“Politicians must consider what this means commercially and what it will do for an economy that relies very heavily on entrepreneurs. It is a great shame. The message is loud and clear from this government: take all the risk you like in setting up a new business, it doesn’t count for anything,” he told Citywire.co.uk. Meanwhile, IPSE (the Association of Independent Professionals and the Self-Employed) welcomed Sunak’s “historic Coronavirus stimulus package” but criticised the government’s plans to extend the changes to IR35 to the private sector, claiming it would undermine the contracting sector. Chris Bryce, CEO of IPSE, said: “This Budget is a mixed but overall still gloomy event for most of the self-employed. The measures to support the self-employed and small businesses through the coronavirus outbreak are very welcome – and in-line with what IPSE has been calling for. However, just as the government tries to protect freelancers’ incomes with these measures, it destroys their work by forging ahead with the disastrous changes to IR35, despite heavy criticism.” Elsewhere across the business sector, the budget was broadly welcomed as a positive. Ian Stewart, chief economist at Deloitte, said: “Major shocks to economies need to be resisted with a swift, aggressive and co-ordinated policy response. Mark Carney and Rishi Sunak have produced a forceful and convincing response to the crisis. In economic policy terms, they just deployed the big bazooka.” Evolution Capital prides itself on offering bespoke M&A advice to clients in the TMT sector. Our carefully chosen tax experts are on hand throughout the transaction process to ensure all outcomes are as tax-efficient as possible. If you’re a business owner looking to buy, sell or accelerate, please get in touch with our transaction team. 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What I learnt – Tom Carroll, founder of Our IT
Home Contact Us Home-version 2 Service page About Us Office Location Post template Home Contact Us Home-version 2 Service page About Us Office Location Post template What I learnt – Tom Carroll, founder of Our IT Blog, IT December 2, 2025 In the first of our Evolution Capital Alumni series, we speak to Tom Carroll, founder of Our IT and an avid cyclist, about the lessons learnt following the sale of his business. Deal stories make headlines. As a sector we’re obsessed with what our rivals are doing; who is selling, who is buying, who the movers and shakers are. But what happens once the deal is done? What do entrepreneurs do once they have parted company with the business they have created, nurtured and grown? Two years on from the sale of ICT support firm Our IT, a business he built up over a period of 15 years, Tom Carroll is smiling. It is thanks to the advice from Evolution Capital, which paved the way for a successful exit back in February 2017, that Carroll has been able to fulfil his lifelong passion for cycling. “Financially the sale of the company was very rewarding and gave me plenty of time and choice for deciding my next move. The first thing I did was to cycle from Chile to Argentina which gave me lots of space for meditative thought. I then went on another cycling adventure from Lasa (India) to Kathmandu (Nepal) and then onto the Everest Base Station – traversing about 20 different mountains as I did so. When I came back I took intensive French lessons and then went on some more big trips – this time in Australia and the US. Thankfully, Carroll has now got rid of the wanderlust and is considering his next move. He remains on the hunt for businesses to buy. Looking back on the deal of his life, Carroll says there were numerous lessons learned and challenges met along the way, but ultimately the decision and subsequent execution of the company’s disposal was based more on serendipity than planning. He explains: “I had no plans to sell the business but I was highly active on the acquisition trail and had purchased and integrated a couple of businesses into Our IT. It was not until Evolution Capital approached me that I realistically considered selling the business. My one takeaway from this process is the time to transact is only when you have the right counter party in the room at the right time. Until that happens, the rest is just hot air.” He believes that in the increasingly frenetic M&A marketplace there are actually very few credible buyers. This might well explain the disproportionality between market activity and execution. Tom continues: “You can of course increase the chances of making something happen by doing the fundamental things well and presenting the company confidently, but most of the offers I received had little credibility and it made no sense to follow through with them. ”In hindsight, what were some of the unexpected bonuses learned on the way? Carroll continues: “Running and driving your own business is a lonely path to take. Like many owners in the same position, I did feel incredibly isolated at times. Of course employees and consultants, all with their own agenda, are always around but it was not until I joined The Supper Club that I discovered like-minded people. These business men and women were all under similar business pressures as me; the same HR, growth and cash flow issues that we face every day. It was comforting to learn and share similar experiences with my peer group. ”Many business owners, when they leave their companies behind, particularly those that have taken many decades to build and grow, feel a certain sense of loss when then finally decide to give the reins to another. Carroll explains: “Most people who dispose of businesses suffer some sort of sellers’ remorse. When you have created a thriving organisation, something that is not only a profitable business but one that has a flourishing spirit and ethos, it is hard to leave it all behind. One minute you are at the very centre, a self- determining, respected business leader who is looked upon for advice and guidance and the next you are not. It’s almost as if you are half the person you were, albeit with a much more healthy bank balance. ”One thing Carroll doesn’t miss is the stress. “I don’t miss the constant pressure of running a business or the trials and tribulations of driving a growing one. What I really don’t miss is the need to be in constant touch with the business and never being able to turn off. For the first time in years, I recently left my lap-top at home went I went on my holiday – contrast that with the panic I experienced when I forgot it on one vacation from Our IT.” Being an entrepreneur is certainly tough; even when the deal is done. Carroll recalls finding the so-called earn out period the least enjoyable part of being a seller of a business. “Although I was still there, managing the business and fully accountable, I was no longer in control. It was a sterile, semi existence and I completed it quick as I could – well within the allotted earn out period. I would advise others doing an earn-out to complete it as quickly as they can,” he explains. As someone who has lead and run a business for more than fifteen years Carroll has plenty of advice for entrepreneurs. “The one major lesson that I learned is that there is no silver bullet. All businesses are a sum of the parts, and owners need to make marginal gains in every area of their business to be successful. This is where Dave Brailsford’s Marginal Gains philosophy comes in – every company has to think like the British Cycling Team and try to apply small gains to
Connexus
Home Our Services Lead Advisory Sell-Side Advisory Buy-Side Advisory Fundraising Advisory Transaction Services Financial Due Diligence (FDD) Vendor and Buyer Assistance SPA Advisory EC Analytics Virtual CFO Services CFO Support & Financial Planning CFO ASSIST Bespoke Data Analytics Debt Advisory Acquisition and Growth Funding Debt Raising and Refinancing About Us Our Team Office Location Who We Are/Overview Case Studies Blog / News Contact Us Home Our Services Lead Advisory Sell-Side Advisory Buy-Side Advisory Fundraising Advisory Transaction Services Financial Due Diligence (FDD) Vendor and Buyer Assistance SPA Advisory EC Analytics Virtual CFO Services CFO Support & Financial Planning CFO ASSIST Bespoke Data Analytics Debt Advisory Acquisition and Growth Funding Debt Raising and Refinancing About Us Our Team Office Location Who We Are/Overview Case Studies Blog / News Contact Us Business Sale Unified Comms October 2023 Connexus Case History Industry specialists Evolution Capital are delighted to have advised the shareholders of Connexus on their sale to Windsor Telecom. Working closely with the business over a period of months, Windsor was identified through a competitive process as an excellent suitor to achieve our clients’ aspirations and provide a fitting home for the Connexus business. Background to Connexus Founded in 2005, Connexus deliver, manage and supply complete end-to-end unified communications, IT and connectivity solutions across the UK. The founders, Gulam Patel and Matthew Sainty were passionate about delivering solutions to ensure their customers’ businesses run smoothly and securely. Connexus is based in Gloucestershire and has grown organically, managing and maintaining over 700 sites as a leading regional provider of unified communications and IT solutions, holding Gamma Gold Partner status, and being a Microsoft Azure specialist. Additionally, the business has achieved ISO9001 and ISO27001 certification for all business and security processes. Selecting an advisor Evolution Capital has developed a well-established and trusting relationship with the shareholders of Connexus since 2021, initially providing an objective strategic review of the business and allowing the shareholders to make data-driven decisions with regard to their direction,services and eventual exit plan moving forward. Approaching 20 years since its establishment, the founders and additional shareholders of Connexus decided the time was right to seek to realise maximum value from their investment in the business and engaged Evolution Capital’s transaction experts to advise them through a sale process. Connexus has gained a solid reputation for exceptional customer service and being an extremely well-organised, process-driven, managed comms and ICT solutions business. Unsurprisingly, when meticulously prepared detailed transaction documentation,identifying intrinsic value, was presented to the right potential acquirers,the business attracted numerous high-quality offers from targeted and well-funded suitors. Understandably, the shareholders of Connexus were eager to find the right buyer for the business and, with the advice of Evolution Capital, were able to secure successful outcomes in the sale of the business to Windsor Telecom, a growing buyer in the space. Advice, planning and preparation Robust preparation at Evolution Capital is a pivotal tool to consistently achieving success. The Evolution team takes great pride in its comprehensive understanding of businesses and buyers within the sector landscape: from detailed analysis of management accounts, billing and customer data, revenue streams,quality of earnings, recurring gross profit, maintainable EBITDA, and valuation metrics, to ensuring a business is sold to the optimal buyer with a sufficiently detailed understanding so that they may seamlessly integrate a business and capitalise on strategic value and identified opportunities. Though Windsor and Connexus share many synergies, as represented in our robust analysis, it was also the additional IT capability offered by the Connexus technical team which further cemented interest for Windsor management. Successful outcomes Following the successful completion of the sale of Connexus,Managing Director and co-founder Gulam Patel commented; “We would personally like to thank the Evolution team for your guidance and ensuring we achieved the maximum shareholder value. I can honestly say without your experience and help we would have never achieved that.” Pete Tomlinson, CEO at Windsor Telecom also added; “Today is an important milestone for Connexus and Windsor Telecom; I hope both teams share my sense of excitement and opportunity as we bring two super complementary businesses and teams together. Collectively, this gives us a broader set of skills, capability and scale to better serve all our customers, together with additional opportunities for the combined team – so is good news all round!” Nigel Cook, CEO of Evolution Capital commented: “We are delighted to have achieved this outstanding outcome for our client. Connexus generated a great deal of interest through the process, and we are incredibly pleased with the results our client has realised. Having first worked with the shareholders some years prior, providing them with essential preparation advice, it has been a pleasure assisting them on the transactional phase and final leg of the Connexus journey. We would like to wish both the exiting shareholders, and those remaining as part of the now extended Windsor family, our very best for their future endeavours. For more information on our team, services and more, please visit the links below; Preparing for Sale Planning for Growth Mergers and Acquisitions Transaction Case Histories The Team More than 2 results are available in the PRO version (This notice is only visible to admin users) Latest Posts BI Title here Acquisition Strategy Revolutionising Due Diligence: The Power of EC Analytics Acquisition Strategy Market-leading Tech advisor, Evolution Capital strengthens its buy-side Team with FDD Specialist, Jonathan Benaim Categories Acquired Acquisition Acquisition Strategy Analytic Services BI Blog Business Acquisition Business Aquired Business Sale Business Valuation and Research Buy-Side Buy-side M&A advice Buyside M&A Case Studies Disposal Financial Due Diligence Fund raising and listing Fundraising Fundraising and M&A advice ICT IT IT Managed Services IT MSP M&A advice M&A Managed Buy and Build Programme Managed Service and Mobile Managed Services MBO Management Buyout Media Merger Multiple R&D Tax Claims Sell-Side Sell-side M&A Advice Software Strategic review & business sale Strategic Review & partial sale Technology Telecoms Telephony Transaction Support Unified Comms Valuation and fundraising Social Media Our Blog Related Case Studies View all Business Sale, Case Studies, Unified Comms Connexus
Windsor Telecom
Home Our Services Transaction Services Lead Advisory Debt Advisory EC Analytics About Us Our Team Office Location Our Values Success Stories Blog Contact Us Home Our Services Transaction Services Lead Advisory Debt Advisory EC Analytics About Us Our Team Office Location Our Values Success Stories Blog Contact Us Financial Due Diligence and Transaction Support Telecoms, Transaction Support August 2024 Evolution Capital is proud to advise Windsor Telecom’s on the successful acquisition of Yoozoom Technologies Ltd, which significantly enhances Windsor’s VoIP, cloud, and connectivity offerings. Evolution Capital primarily served as Windsor Telecom’s financial due diligence provider during this strategic acquisition with our role extending to also cover SPA support. The Evolution Capital Team provided comprehensive and rounded support, working closely with Windsor’s management team to navigate the transaction efficiently and effectively. We are proud to have played a pivotal role in Windsor Telecom’s continued expansion and are looking forward to partnering with Windsor as we continue to support them on their future growth plans. The challenge Windsor Telecom identified Yoozoom Technologies Ltd as a strategic acquisition to strengthen its VoIP, cloud and connectivity offering. As with any acquisition, the management team needed clear financial visibility on the target business, a robust understanding of underlying performance and confidence around the risks and opportunities within the transaction. Given the strategic importance of the acquisition, Windsor also required advice that went beyond a conventional diligence process. This included analysis presented in a way that aligned with its own commercial priorities and support through the negotiation and completion phases of the deal. Our advice Evolution Capital was appointed to provide financial due diligence and SPA support to Windsor Telecom. Using EC Analytics, our transaction team developed an interactive data model to help Windsor’s management team assess the target in greater depth. This enabled the business to understand key financial drivers, identify any critical red flags and evaluate the opportunity through a more practical and commercially relevant lens. Our support extended beyond the standard scope of diligence. By combining transaction expertise with sector knowledge, we worked closely with Windsor to provide tailored analysis, support decision making during the acquisition process and help navigate the transaction efficiently through to completion. The outcome Windsor Telecom successfully completed the acquisition of Yoozoom Technologies Ltd, further enhancing its service offering and supporting its wider growth strategy. Pete Tomlinson, CEO of Windsor Telecom commented: “If I were to summarise the FDD process, I would say that FDD tends to be very backward-looking, but the EC Analytics platform turns it into something forward looking. Evolution Capital are gold dust to work with, frankly.” Evolution Capital’s financial due diligence and SPA support helped provide the management team with the clarity needed to move forward confidently. The use of EC Analytics also supported a more detailed understanding of the business, both in assessing the transaction rationale and in helping inform post completion integration. This transaction followed Windsor Telecom’s acquisition of Connexus in 2023, further demonstrating its continued ambition to grow through strategic acquisition. Sam Godfrey, Transaction Services Director at Evolution Capital, said: “We are delighted that Windsor Telecom’s team has successfully acquired Yoozoom Technologies Ltd. Windsor appointed Evolution Capital financial advisers on the acquisition, where we added significant value through our financial due diligence and SPA support services. Leveraging EC Analytics, Evolution Capital’s support extended beyond the standard scope of financial due diligence. Our transaction team developed an interactive, data model platform enabling the Windsor management team to understand the key business drivers and identify any critical red flags. By applying our sector specific knowledge and transaction expertise, Evolution Capital collaborated with both parties to mitigate risks efficiently. Everyone at Evolution Capital looks forward to supporting Windsor Telecom’s continued growth and future success.” For more information on EC Ananlytics, our transaction services and financial due diligence support, please click here More than 2 results are available in the PRO version (This notice is only visible to admin users) Latest Posts Acquisition Strategy Revolutionising Due Diligence: The Power of EC Analytics Acquisition Strategy Market-leading Tech advisor, Evolution Capital strengthens its buy-side Team with FDD Specialist, Jonathan Benaim Acquisition Strategy Inside the serial acquirer’s playbook: How EC Analytics Transforms FDD Categories Acquired Acquisition Acquisition Strategy Analytic Services Blog Business Acquisition Business Aquired Business Sale Business Valuation and Research Buy-Side Buy-side M&A advice Buyside M&A Case Studies Disposal Financial Due Diligence Fund raising and listing Fundraising Fundraising and M&A advice ICT IT IT Managed Services IT MSP M&A advice M&A Managed Buy and Build Programme Managed Service and Mobile Managed Services MBO Management Buyout Media Merger Multiple R&D Tax Claims Sell-Side Sell-side M&A Advice Software Strategic review & business sale Strategic Review & partial sale Technology Telecoms Telephony Transaction Support Unified Comms Valuation and fundraising Social Media Our Blog Related Case Studies View all Business Sale, Case Studies, Unified Comms Connexus December 2, 2025 Case Studies, Financial Due Diligence, Transaction Support Windsor Telecom December 2, 2025 Business Sale, Case Studies, Unified Comms Unicomm December 2, 2025 Business Sale, Case Studies, Managed Services Callagenix December 2, 2025 Case Studies, M&A Managed Buy and Build Programme Adept Technology Group December 2, 2025 Request a Confidential Consultation Discover Your Business Value Start with a strategic assessment to understand your maximum potential valuation in the current market. Contact us now Company About Us Blogs Our Location Careers Our Services About Us Sell Side Buy Side Data Work Resources Faq Client Dashboard Support Our Location Contact Us (020) 3696 2810 Info@evolutioncapital.com 68 King William Street, London, EC4N 7HR The Granary, Oak Lane, Chichester, PO20 7FD Subscribe Subscribe to our newsletter
Unicomm
Home Contact Us Home-version 2 Service page About Us Office Location Post template Home Contact Us Home-version 2 Service page About Us Office Location Post template Business Sale Unified Comms June 2023 The Background Unicomm is a leading provider of unified communications and wholesale telecommunications solutions. The business specialises in managing a range of hosted services, predominantly Mitel and 8×8, supplying these to a long-established SME and Commercial customer base. Founders Gary Roberts and Simon Drew met whilst working previously for Annodata, and later utilised their Mitel specialism to form Unicomm in 2009. The Challenge Having built a solid customer base and reputation since establishment, the shareholders’ decision to embark on an exit process and sell the business, to such a renowned market buyer as Babble, was a simple one. When presenting a business to a Tier 1 Buyer, it is vital that the proposition, services and supplier relationships are understood, and that the expected synergies for a larger consolidator are clearly apparent and defendable. In this journey, customer concentration initially presented a risk to the value of the business, demanding a refined focus on the proposition to avoid misleading the market, whilst presenting the business in the best light possible. This allowed our team to ensure potential buyers are aware of the issues, without damaging the valuation of the business. Moreover, it was essential to demonstrate how efficiently the business could be integrated, given its lean staff base and specific service types. The transaction team at Evolution Capital worked to create and develop a proposition and marketing documentation, which could stand up in FDD and clearly defendable through buyer interrogation. Approaching the completion of the IM, certain challenges arose which led to our team re-configuring the proposition ahead of due diligence investigation. This required making necessary adjustments to the IM and financial data pack to reflect the true underlying performance in the business. “Preparation ahead of a sale is of vital importance. Once a maximum value offer is secured, the most important period is the final months before completion where value can be eroded if the focus on business performance is not maintained. Our deep understanding of the business allowed us to mitigate all risks during this period”. Sam Godfrey, Transaction Director FDD interrogation was intense from the Babble team, demonstrating that the size of the business is not what determines the level of investigation. Our team was required to continue to deal with material changes in trading performance, in order to properly defend the business proposition and the underlying stability of the business. Advice, Planning, and preparation In 2019, the transaction team at Evolution Capital met with shareholders Gary Roberts and Simon Drew to understand the exit process further. Often for most sellside clients, we find that most have not run a transaction process before, and this was the case for the shareholders of Unicomm. Evolution Capital worked closely with the shareholders of Unicomm, becoming an extension of their own team throughout the duration of the process. Prior to entering into a business sale process, our transaction team, headed by Sam Godfrey, provided the granular analysis of the business from an objective perspective, allowing the shareholders to make decisions more effectively. Furthermore, the Evolution Capital team worked with meticulous focus to understand the intricacies of Unicomm, in order to allow the management teams the time to continue to run the business efficiently throughout the transaction process. It was essential for our transaction team to highlight the strength of the quality of earnings in the business, which is not always apparent when looking at high level information such as the management accounts. We had to understand the nature of every single expense to accurately exclude costs which were not needed or recurring for a larger acquirer. Ultimately, specifically tailoring the preparation of the business for a Tier 1 buyer. A Successful Outcome Evolution Capital are delighted to announce the successful sale of Unicomm to prestigious market buyer Babble earlier this month, after working closely with the shareholders of Unicomm to thoroughly prepare the business before entering into a process in order to achieve maximum value. Sam Godfrey, Transaction Director said; “I am thrilled for the shareholders of Unicomm, who I worked closely with over the course of the last 12 months. Achieving maximum value is, of course, what everyone aspires to in a business sale, but it is hugely rewarding to have worked with management teams of businesses such as Unicomm from the conception of the prospect of entering into a business sale process, right through to completion.” Simon Drew, Shareholder of Unicomm added; “Gary and myself spoke with various advisors before both agreeing to work with Evolution on the sale of Unicomm, we came to this decision based on the confidence they gave us that they would achieve maximum value for our business and be part of the journey from the beginning to the end and I must say they were true to their word. Sam was relentless in his pursuit to make sure the value was kept within the business and by the end of the process it felt like he was part of Unicomm. Although it was a roller coaster of a journey we achieved what we set out to from the start.” For more information on our exit services please click here For more information on planning for growth click here For more information on our M&A programmes click here For Babble’s announcement click here Follow us on LinkedIn More than 2 results are available in the PRO version (This notice is only visible to admin users) Latest Posts Business Sale Unicomm Business Sale Callagenix Case Studies Adept Technology Group Categories <lidata-term-id=”90″> Acquired <lidata-term-id=”64″> Acquisition <lidata-term-id=”10″> Analytic Services <lidata-term-id=”58″> Business Acquisition <lidata-term-id=”56″> Business Aquired <lidata-term-id=”6″> Business Sale <lidata-term-id=”66″> Business Valuation and Research <lidata-term-id=”11″> Buy-Side <lidata-term-id=”101″> Buy-side M&A advice <lidata-term-id=”65″> Buyside M&A <lidata-term-id=”28″> Case Studies <lidata-term-id=”81″> Disposal <lidata-term-id=”8″> Financial Due Diligence <lidata-term-id=”68″> Fund raising and listing <lidata-term-id=”75″> Fundraising and M&A advice <lidata-term-id=”94″> ICT <lidata-term-id=”53″> IT <lidata-term-id=”62″> IT Managed
Callagenix
Home Contact Us Home-version 2 Service page About Us Office Location Post template Home Contact Us Home-version 2 Service page About Us Office Location Post template Aquisition Managed Services 2023 Background Bespoke telephony provider Callagenix was founded by Mark and Tony Jenkins in 1999. Both directors come from a background in IT and Telecoms and following the sale of another business in 1998, the shareholders were eager to explore web-based opportunities, and so Callagenix was established based on being able to generate a number of clients online and configure multiple managed services to sit behind that number. The shareholders spent the late nineties and early noughties programming, developing and building integrated systems with links into BT and other Tier 1 providers. The company was established to create a self-sufficient business model within the telecoms arena, which required little maintenance from a cash-flow perspective, as well as from a user perspective allowing customers to manage the products and services independently via an online platform. Advice, Planning and Preparation Having previously experienced the generalist broker approach towards the transaction process, shareholders Mark and Tony sought the advice of a specialist advisor, with the market intelligence and proven methodologies to achieve outstanding outcomes. With over 20 years’ experience exclusively advising shareholders of IT, telco and telecoms businesses, Evolution Capital was selected as the chosen advisory boutique to guide the founders through the business exit process. “When you’re looking at appointing an advisor, you’re looking at several factors; obviously you want to get the maximum amount of value you can for the business at the point that you’re selling… When we went through this process before, they [the broker] was not a specialist. I think, this time around, going with a specialist advisor in the telecoms arena, who understands the challenges for the buyer, and the seller as well, has proved to be the correct decision.” Mark Jenkins Preparation remains to be a key pillar of the Evolution Capital methodology. Our meticulous attention to detail in preparing the businesses we serve enables our team to unlock intrinsic value, and to later protect and defend the valuation of the business through buyer investigation and financial due diligence. The Challenge The nature of Callagenix, its services and its business model are all deeply bespoke, and so presenting such intricacies to potential acquirers could have been challenging had the advisory team leading the transaction process been ill-equipped in understanding the business and sector. However,the Evolution Capital team have an unparalleled understanding of current telephony market trends and temperature, allowing the necessary adjustments and advice to be implemented in order to appeal to the right buyer – not just any buyer – and achieve outstanding outcomes. “As the process unfolded, it became clear that it was actually very good value for money… At the end of the day, a lot more work and effort went into that preparation of the business and the IM, than I would have initially imagined. This ultimately allowed valuation of the business to be defended further on, I think that you guys really know that at Evolution Capital.” Mark Jenkins A successful outcome In January 2023, Mark and Tony Jenkins completed the sale of the business to Chess, with the guidance, preparation and support through due diligence of the Evolution Capital team. “…We probably learnt more about our business going through the process with you guys, than we perhaps did beforehand… Would we have achieved maximum value for the business if we had managed the process ourselves, or by using a different advisor? I don’t think so.” Tony Jenkins Read more about the transaction here: https://www.evolutioncapital.com/news/chess-acquire-bespoke-telephony-platform-callagenix More than 2 results are available in the PRO version (This notice is only visible to admin users) Latest Posts Business Sale Callagenix Case Studies Adept Technology Group Buyside M&A Excalibur Categories Acquired Acquisition Analytic Services Business Acquisition Business Aquired Business Sale Business Valuation and Research Buy-Side Buy-side M&A advice Buyside M&A Case Studies Disposal Financial Due Diligence Fund raising and listing Fundraising and M&A advice ICT IT IT Managed Services IT MSP M&A Managed Buy and Build Programme Managed Service and Mobile Managed Services MBO Management Buyout Media Merger Multiple R&D Tax Claims Sell-Side Sell-side M&A Advice Software Strategic review & business sale Strategic Review & partial sale Technology Telecoms Telephony Unified Comms Valuation and fundraising Social Media Our Blog Related Case Studies View all Business Sale, Case Studies, Managed Services Callagenix December 2, 2025 Acquisition, Case Studies, Managed Services Callagenix December 2, 2025 Case Studies, M&A Managed Buy and Build Programme Adept Technology Group December 2, 2025 Buyside M&A, Case Studies, Managed Service and Mobile Excalibur December 2, 2025 Acquisition, Case Studies, Telecoms Ridgewall December 2, 2025 Request a Confidential Consultation Discover Your Business Value Start with a strategic assessment to understand your maximum potential valuation in the current market. Contact us now Company About Us Blogs Our Location Careers Our Services About Us Sell Side Buy Side Data Work Resources Faq Client Dashboard Support Our Location Contact Us (020) 3696 2810 Info@evolutioncapital.com 68 King William Street, London, EC4N 7HR The Granary, Oak Lane, Chichester, PO20 7FD Subscribe Subscribe to our newsletter
Adept Technology Group
Home Contact Us Home-version 2 Service page About Us Office Location Post template Home Contact Us Home-version 2 Service page About Us Office Location Post template M&A Managed Buy and Build Programme Technology, Telecoms 2005 – 2021 Background AdEPT Technology Group was founded in 2003 and provides managed services and telecoms solutions to over 12,000 commercial customers, both domestic and business, across the UK. Since 2005, Evolution Capital have developed and provided strategic business advice which have delivered outstanding outcomes for the shareholders of AdEPT Technology Group. To date, we are proud to have advised AdEPT Technology Group through sixteen successful business acquisition transactions. The Challenge Through a series of bespoke, value-enhancing programmes,strategic business advice combined with our unique understanding of the sector,derived from decades of experience and the tireless work undertaken by our analysts, dealmakers and chartered accountants, Evolution Capital have worked closely and consistently with AdEPT Technology Group, to ensure optimal outcomes for the shareholders and management teams, whilst delivering verified prospects to the acquisition criteria, with focus on synergy with acquisitions through value growth initiatives Advice, Planning and Preparation Meticulous planning is our forte, and through a bespoke methodology, combining a schedule of prospecting presentations developed by our deal originators, to ongoing understanding and analysis of the acquisition criteria and value-enhancement programmes, the Evolution Capital team advised the shareholders of Adept through an array of acquisitions of varying value,including the most recent acquisition of Datrix. The services our team provided included: · Weekly presentations to the shareholders and managements teams · Teasers and snapshots of businesses verified and qualified against the acquisition criteria · Ongoing analysis and market landscaping · A review of relevant financial and management information · A detailed risk analysis report · The preparation of all appropriate documentation Ian Fishwick, CEO of AdEPT commented: “The Datrix acquisition is the fourteenth transaction that we have completed with the advice and guidance of Evolution Capital. The best recommendation that I can give anyone when considering whether to engage with a professional adviser is that we continue to use Evolution Capital regularly and keep paying for them to deliver their services.” Maximising the value through business acquisition Throughout the 15+year relationship with Evolution Capital, AdEPT have completed north of 16 transactions with the advice and guidance of Nigel Cook and the team at Evolution Capital. Our unique approach, which combines the collaborative nature of our team of chartered accountants, transaction experts, sector specialists and analysts, is what sets us apart and allows us to deliver outstanding outcomes for our clients. More than 2 results are available in the PRO version (This notice is only visible to admin users) Latest Posts Case Studies Adept Technology Group Buyside M&A Excalibur Acquisition Ridgewall Categories Acquired Acquisition Analytic Services Business Acquisition Business Aquired Business Sale Business Valuation and Research Buy-Side Buy-side M&A advice Buyside M&A Case Studies Disposal Financial Due Diligence Fund raising and listing Fundraising and M&A advice ICT IT IT Managed Services IT MSP M&A Managed Buy and Build Programme Managed Service and Mobile Managed Services MBO Management Buyout Media Merger Multiple R&D Tax Claims Sell-Side Sell-side M&A Advice Software Strategic review & business sale Strategic Review & partial sale Technology Telecoms Telephony Unified Comms Valuation and fundraising Social Media Our Blog Related Case Studies View all Case Studies, M&A Managed Buy and Build Programme Adept Technology Group December 2, 2025 Buyside M&A, Case Studies, Managed Service and Mobile Excalibur December 2, 2025 Acquisition, Case Studies, Telecoms Ridgewall December 2, 2025 Business Sale, Case Studies, ICT Pescado December 2, 2025 Acquired, Case Studies Datrix December 2, 2025 Request a Confidential Consultation Discover Your Business Value Start with a strategic assessment to understand your maximum potential valuation in the current market. Contact us now Company About Us Blogs Our Location Careers Our Services About Us Sell Side Buy Side Data Work Resources Faq Client Dashboard Support Our Location Contact Us (020) 3696 2810 Info@evolutioncapital.com 68 King William Street, London, EC4N 7HR The Granary, Oak Lane, Chichester, PO20 7FD Subscribe Subscribe to our newsletter
Excalibur
Home Contact Us Home-version 2 Service page About Us Office Location Post template Home Contact Us Home-version 2 Service page About Us Office Location Post template Buyside M&A Managed Service and Mobile 2022 Our Blog Related Case Studies View all Buyside M&A, Case Studies, Managed Service and Mobile Excalibur December 2, 2025 Acquisition, Case Studies, Telecoms Ridgewall December 2, 2025 Business Sale, Case Studies, ICT Pescado December 2, 2025 Acquired, Case Studies Datrix December 2, 2025 Buy-side M&A advice, Case Studies Arrow December 2, 2025 Request a Confidential Consultation Discover Your Business Value Start with a strategic assessment to understand your maximum potential valuation in the current market. Contact us now Company About Us Blogs Our Location Careers Our Services About Us Sell Side Buy Side Data Work Resources Faq Client Dashboard Support Our Location Contact Us (020) 3696 2810 Info@evolutioncapital.com 68 King William Street, London, EC4N 7HR The Granary, Oak Lane, Chichester, PO20 7FD Subscribe Subscribe to our newsletter
Ridgewall
Home Contact Us Home-version 2 Service page About Us Office Location Post template Home Contact Us Home-version 2 Service page About Us Office Location Post template Aquisition Acquisition, Telecoms 2020 Evolution Capital is delighted to announce its strategic review and three-year M&A, funding and advisory programme of London-based MSP Ridgewall has resulted in an investment in the business by leading private equity firm Inflexion. The private equity investment is being made by Inflexion Enterprise Fund V, Inflexion’s dedicated lower mid‐market fund. The firm has also backed Ridgewall’s simultaneous acquisition of QDOS, a specialist provider of managed IT and communications to the hospitality industry, including leading international hotel brands. Evolution Capital was commissioned in May 2017 to deliver a strategic review of Ridgewall in a bid to advise shareholders on which direction to take the business. The Evolution Capital advisory team explored various different strategic options including a sale, organic growth and a combination of acquisitions, funding and organic growth. This detailed review also included providing current and prospective valuations. Shareholders had a target valuation in mind, however the review indicated the business was short of that target. Evolution Capital therefore set out a range of plans and options to advise and help shareholders achieve their goal over an appropriate time period. The plan involved strategic M&A, funding and organic growth in value, including an increased focus on recurring revenue contracts as opposed to one-off and multi-service offerings.Acquisitions had to fit the right profile and enhance value, ideally with synergies as well. Ridgewall agreed with the plan and Evolution Capital set about advising on implementation. Acquisitions were made in 2018 (Connecting London, Telnet International) and 2019 (Nomis Connections), before the fourth acquisition (QDOS) at the same time as the partial sale to Inflexion last month. Ridgewall’s chief executive Dominic McAnaspie said: “Evolution Capital worked with us for two-and-a-half years and demonstrably enhanced value. The team’s thoroughness and attention to detail, their knowledge of the market and can-do attitude was exactly what we needed. The plan they put in place, with its focus on developing long-term customer relationships, enabled us to achieve our target valuation goal. Without Evolution Capital the deal with Inflexion would never have happened.” Evolution Capital advised on the four acquisitions, including introducing and advising on debt funding from Clydesdale Bank, as well as the investment by Inflexion.Ridgewall was established in 2011 and provides business critical services in IT, communication and cyber security to SMEs. QDOS-sbl is Ridgewall’s fourth acquisition in the last twelve months and enhances the company’s technical capability and international footprint as well as diversifying the client base. The combined group now employs over 100 people, servicing around 1,800 customers. Duncan Gregory, transaction services director at Evolution Capital, said: “We’re delighted to have advised Ridgewall throughout such an exciting time in the company’s journey. We believe the combined group is now well placed to grow capital for investors in an exciting sector through a buy-and-build strategy. We have seen for some time that the sector is somewhat fragmented, creating genuine opportunities for such a strategy.” More than 2 results are available in the PRO version (This notice is only visible to admin users) Latest Posts Acquisition Ridgewall Business Sale Pescado Acquired Datrix Categories Acquired Acquisition Analytic Services Business Acquisition Business Aquired Business Sale Business Valuation and Research Buy-Side Buy-side M&A advice Buyside M&A Case Studies Disposal Financial Due Diligence Fund raising and listing Fundraising and M&A advice ICT IT IT Managed Services IT MSP M&A Managed Buy and Build Programme Managed Services MBO Management Buyout Media Merger Multiple R&D Tax Claims Sell-Side Sell-side M&A Advice Software Strategic review & business sale Strategic Review & partial sale Technology Telecoms Telephony Unified Comms Valuation and fundraising Social Media Our Blog Related Case Studies View all Acquisition, Case Studies, Telecoms Ridgewall December 2, 2025 Business Sale, Case Studies, ICT Pescado December 2, 2025 Acquired, Case Studies Datrix December 2, 2025 Buy-side M&A advice, Case Studies Arrow December 2, 2025 Case Studies, Fundraising and M&A advice, Telephony Business Mobiles December 2, 2025 Request a Confidential Consultation Discover Your Business Value Start with a strategic assessment to understand your maximum potential valuation in the current market. Contact us now Company About Us Blogs Our Location Careers Our Services About Us Sell Side Buy Side Data Work Resources Faq Client Dashboard Support Our Location Contact Us (020) 3696 2810 Info@evolutioncapital.com 68 King William Street, London, EC4N 7HR The Granary, Oak Lane, Chichester, PO20 7FD Subscribe Subscribe to our newsletter
Pescado
Home Contact Us Home-version 2 Service page About Us Office Location Post template Home Contact Us Home-version 2 Service page About Us Office Location Post template Business Sale Business Sale, ICT September 2021 Market leader in bespoke business communications, Pescado, has been acquired by Arrow Business Communications in September 2021. Founded in 2006 by Group Financial Director, Jonathon Weeks and Group Managing Director, Fraser Watson, Pescado is a highly profitable leading national mobile, hosted and IT solutions provider with first-rate network accreditations based in the north-west. Arrow, operating out of eleven offices across the UK specialises in solutions for businesses encompassing Collaboration, Connectivity, Cyber Security and Cloud and Infrastructure Managed Services. Evolution Capital’s Transaction Services Director, Duncan Gregory said, “We have been delighted to collaborate closely with the team at Pescado over a very bumpy period for business globally thanks to the Covid pandemic. The company was a compelling proposition, and we were pleased to help them achieve such a great strategic fit which will ensure an exciting future as part of Arrow Communications.” Evolution Capital’s over-arching review of the company gave an early indication of value which led to preparation for sale just before the first nationwide lockdown. Gregory said, “No-one could predict at that time whether buyers would retreat as a result of the unusual events but, given our industry knowledge and expertise, we were able to maximise value despite a challenging macro-economic period. We are delighted for all parties.” Pescado’s Fraser Watson said, “Duncan and Sam at Evolution Capital educated us throughout the whole sales process which we were naïve about to begin with. They always kept us very informed and prepared us, along with the business, right from the start on how the following weeks and months were likely to unfold. Both of our main contacts at Evolution Capital left no stone unturned and were available to us for support and guidance at any time. We saw a number of advisors before we settled on Evolution Capital but chose them because we were so impressed by their incredible in-depth knowledge and understanding of our complex industry.” Jonathan Weeks agrees and adds, “We were warned that selling our company could be painful at times – and it was – so we were so glad that we had the support of Evolution Capital who walked closely beside us throughout the whole journey. We have already recommended them for their exemplary professionalism and wouldn’t hesitate to do so again.” CEO at Arrow Business Communications, Richard Burke comments, “I’m really looking forward to welcoming the vastly experienced Pescado team to Arrow and working alongside them to drive the organic growth of some key solution areas across the Group. Their sales-focused mentality, combined with Arrow’s broad product offering and expertise, will significantly enhance our ability to win in the marketplace.” More than 2 results are available in the PRO version (This notice is only visible to admin users) Latest Posts Business Sale Pescado Acquired Datrix Buy-side M&A advice Arrow Categories Acquired Acquisition Analytic Services Business Acquisition Business Aquired Business Sale Business Valuation and Research Buy-Side Buy-side M&A advice Buyside M&A Case Studies Disposal Financial Due Diligence Fund raising and listing Fundraising and M&A advice ICT IT IT Managed Services IT MSP M&A Managed Buy and Build Programme Managed Services MBO Management Buyout Media Merger Multiple R&D Tax Claims Sell-Side Sell-side M&A Advice Software Strategic review & business sale Strategic Review & partial sale Technology Telecoms Telephony Unified Comms Valuation and fundraising Social Media Our Blog Related Case Studies View all Business Sale, Case Studies, ICT Pescado December 2, 2025 Acquired, Case Studies Datrix December 2, 2025 Buy-side M&A advice, Case Studies Arrow December 2, 2025 Case Studies, Fundraising and M&A advice, Telephony Business Mobiles December 2, 2025 Case Studies, Strategic review & business sale ACS Group December 2, 2025 Request a Confidential Consultation Discover Your Business Value Start with a strategic assessment to understand your maximum potential valuation in the current market. Contact us now Company About Us Blogs Our Location Careers Our Services About Us Sell Side Buy Side Data Work Resources Faq Client Dashboard Support Our Location Contact Us (020) 3696 2810 Info@evolutioncapital.com 68 King William Street, London, EC4N 7HR The Granary, Oak Lane, Chichester, PO20 7FD Subscribe Subscribe to our newsletter