Chiltern Capital has completed an investment in Gradwell Communications, a provider of VoIP and connectivity services to micro businesses and SMEs across the UK.
Gradwell, based in Bath, was founded by Peter Gradwell in 1998, and has over 22,000 customers which positions the company as one of the largest independent providers in the sector. Gradwell has developed its own platform and operates using direct sales and channel partners. The company employs over 60 people.
Chiltern is backing Peter Gradwell and an experienced management buy-in team, Nick Caw and Andrew Peters to deliver an ambitious business plan which will see the company continue to invest in this growth market and the move from on premise to cloud telecoms.
Chiltern Capital has taken a majority stake and will work closely with the management team. Tom Phipps of Chiltern Capital, said: “We have been working alongside Nick, Andrew and Peter over the last six months and are backing an experienced team. Their combined knowledge of VoIP, cloud services and telecoms is a good fit to achieve the most out of the current platform.”
Peter Gradwell, CTO and Founder of Gradwell, commented: “I am extremely pleased to be working with Nick, Andrew and the team from Chiltern and believe we can continue to scale this business applying our collective expertise in VoIP and SaaS for the SME market”.
Alex Sheffield and Tom Phipps of Chiltern Capital will join the Board.