14/10/2016

Successful exit for Finance Wales from SIPHON

Finance Wales has exited SIPHON less than two years after investing in the company. They have achieved a significant multiple on their equity investment in the firm, which received a £1.5million round as recently as March 2015. The company has been bought by the Nuvias Group (backed by Rigby Private Equity).

Welsh start-up SIPHON specialises in unified communications and cloud-based telephony solutions for the B2B market. The company used the Finance Wales deal to recruit additional staff and expand in to international markets.
 
As part of their investment Finance Wales appointed an experienced technology-focused Chair, Shaun Davey to the board of SIPHON.

“SIPHON quickly established a notable reputation for enabling customer-centric, unified communications solutions,” explained Investment Executive Leanna Davies who structured the deal on behalf of Finance Wales. “We were able to provide the management team with support and equity investment at a crucial period of growth for the company, allowing them to accelerate their expansion in to a number of international markets.”

Jerry Mobbs Finance Wales Deputy Portfolio Manager added: “We are delighted that SIPHON has found a home within the Nuvias Group, where we have no doubt it will continue to flourish and we look forward to watching Siphon continue to grow under its new ownership.”

Paul Eccleston, CEO Nuvias Group, said: "SIPHON is a great business with an exceptional reputation in the UC market. Its focus on high level service and solutions capabilities for the channel is perfectly aligned with the Nuvias Group philosophy and strategy. SIPHON is also highly complementary to the cyber security, advanced networking and UC capabilities of Wick Hill and Zycko, the existing businesses in the Group.

SIPHON will continue to operate from the same location, with the same staff and the same management team, led by Steve Harris, who will remain as managing director. "We will protect what has already been built by SIPHON," added Eccleston. "We will enhance it through the other capabilities in the Nuvias Group, and we will expand it, taking it across EMEA."

Steve Harris, managing director for SIPHON Networks, said: "This is a great opportunity for SIPHON staff, vendor partners and customers. It enables us to accelerate our growth plans and expand geographically in the UK and EMEA, as part of a much larger organisation, which shares our core beliefs and dedication to high service levels, and has the resources to help us realise our goals.