Firstcom Europe has agreed to extend and upsize its existing loan facility with Kartesia, in a transaction that follows on from an initial investment during 2020.
The new financing package includes additional drawn and undrawn facilities that will be used to support further growth and diversification through M&A.
Firstcom has completed 14 acquisitions in the past decade and now has an annual turnover of over €48m.
It has developed a UCaaS system which encompasses enhanced voice services, softphones and SIP channels for SMEs and uses a range of partners to provide advanced cloud solutions.
Firstcom has already completed an acquisition since the loan extension, purchasing a customer base with a turnover of more than €1.2 million annually, and around 35% of this revenue is derived from IT services.
Nick Holman, Katesia’s Partner and Head of the UK and Ireland commented: “We have supported Firstcom and seen the positive trajectory since we first partnered with the business four years ago.
“The additional capital provided through our investment will allow Firstcom to deliver further organic growth, and to capitalise on M&A opportunities as it continues to expand.”
Image shows: Christian Bleakley, CEO, Firstcom Europe