Altitude Partners Invests in Gradwells's VOIP Expansion
Altitude Partners, the regional private equity fund based in Hampshire, has invested £1.15m in Gradwell, a provider of VoIP Telephony and Internet solutions.
The funding will allow Gradwell to significantly scale its technology and invest in growing its substantial customer base.
Gradwell was founded in 1998 by Dr Peter Gradwell, whilst studying at University, as a means of offering small businesses his proprietary ‘Voice over Internet Protocol’ (VoIP) system. Now based in Bath, Gradwell has a turnover of £5m, a team of 60 and serves 12,000 UK Small Businesses.
Commenting on the announcement, Peter Gradwell said: “It is really exciting that after more than 12 years of steady growth, we are able to cement our position as a leading supplier of VoIP and Broadband to SME businesses.
“The company has grown enormously in the last 12 months and now, with Altitude on board, we have a firm foundation to continue our growth and provide the most useful VoIP platform on the market. VoIP makes a company’s phone system cheaper and far more flexible.”
Simon White of Altitude Partners commented: “Gradwell is one of the most established and innovative businesses operating its own platform in the VoIP telephony market. The company is expanding at a rapid rate as more businesses discover the benefits of using VoIP for their telephony requirements.
“We are pleased to be backing Gradwell’s dynamic team, who have a comprehensive knowledge of this burgeoning industry and a clear vision for the development of their business. As an investor in regionally based growing businesses across the South, this investment fits well with our strategy.”
Jonathan Simm of Altitude commented: “Our approach is to seek well run established businesses like Gradwell who have a clear strategic plan to deliver capital growth. The private investors, who invest in the Altitude One LP fund, benefit from our unique investment structure, our deal flow and our ability to invest, monitor and manage such investments. Altitude One LP has made two investments to date and remains open for High Net Worth Individuals to join.”
Gradwell received Corporate Finance advice from Shaw & Co LLP. Legal advisors to Altitude Partners were Bond Pearce and legal advisers to Gradwell were Veale Wasborough Vizards. Francis Clark provided financial due diligence support.
High Net Worth Individuals commit a minimum of £150,000 to Altitude One LP, which then invests in amounts of between £500,000 to £3million into a portfolio of established regional businesses with potential for strong capital growth. Potential investors can contact Altitude Partners at firstname.lastname@example.org or call them on 02380 302 006.