SME Loans

Buy-out secures future of Lancs telecom firm

A long-established Lancashire telecoms business has undergone a management buy-out backed by a six-figure loan from Mercia Fund Managers.

The deal, which will secure the future of Abbey Telecom and the jobs of its 17 staff, gives control of the business to an existing director, Andy Wilson, and the company’s accountant Andrew Botham.

Abbey Telecom, which is based in Blackburn, provides business telephone systems and services including calls, broadband, wi-fi, hosted telephony, IT support and business mobiles to clients throughout the UK ranging from small businesses to multinationals.

Andy Wilson, who now becomes Managing Director, joined the business four years ago to help to drive its growth. He has extensive experience within the telecoms and software sectors, having held senior roles at BT and at Ryder Systems in Blackburn, which he helped to grow from a small firm to an international business and which was sold to a US corporation.

Andrew Botham, who joins the board as a non-executive director, is a Chartered Certified Accountant and entrepreneur who was previously the principal in Mayes Accountants in Accrington.

Mercia is one of the few loan providers able to fund management buy-outs in small firms. Its EV SME Loans fund provides loans between £150,000 and £1.0million to established and growing SMEs across the UK.

Peter Rooney, Investment Manager at Mercia, said: “Abbey Telecom is an established Lancashire business which has been growing year on year. Andy and Andrew both have a strong track record in their fields and with their industry knowledge and business acumen, they are ideally placed to take it from strength to strength. “