Glamorgan Telecom has completed a management buyout with support from Finance Wales which takes a 15% equity stake in the group. MD and majority shareholder Kelly Bolderson (pictured) and members of the senior management team have bought out founding director Neal Pughe's stake bringing the company under the full control of the current board.
The move enables the Cardiff-based company to refinance its existing debt and push forward growth plans across south Wales and the south west and target revenues of over £5m by the end of 2018 having expanded its sales team by 40%.
Bolderson said: "This is the beginning of a new and exciting journey for the business. With a full buyout in place the management team has control to guide Glamorgan Telecom into an exciting new chapter, and with the investment we can continue with our expansion plans."
This is the latest investment from the Wales Management Succession Fund, a Welsh Government-backed £25m fund supporting business succession for growing Welsh companies.
Glamorgan Telecom was established in 1993 and has more than 1,800 customers and currently employs 32 staff.