Member Article

North East communication firm growing through acquisitions

Newcastle-based business-to-business provider Bluebell Telecommunications has recently bought two telecommunications companies in Scotland and Yorkshire having raised £2m funding in partnership with NatWest and NEL Fund Managers Ltd.

Bluebell has made four acquisitions in the past three years. Its most recent will deliver an increase in annual revenue of an estimated £3.5m. The funding also marks NEL’s 500th official cash injection since it was established in 1988.

Mick Crosthwaite and Michael Smith, Directors of Bluebell, have proven experience within the sector having driven the acquisition & sales strategy for Internet Service Provider, Tiscali. Over the past three years they have built a base of blue-chip names in retail, hotel & leisure and care sectors as well as many SME customers.

Mick Crosthwaite said: “It has always been our strategy to grow through acquisition. We have worked closely with NEL and the bank to secure funding to complete this second phase of acquisitions.”

Joanne Pratt, Investment Executive at NEL, said: “This officially marks NEL’s 500th fund injection and we are delighted to have backed such a strong team with a great business model. Both Michael Smith and Mick Crosthwaite put forward the strategic plan for growth in a professional and convincing way, which is a testament to their industry experience.

“Their goals are ambitious but their plan to grow with acquisitions is based on a proven track record. They have demonstrated that they are flexible, taking advantage of good opportunities as and when they appear.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .