Charterhouse kicks off new year with pair of acquisitions

Symity and Digital Exchange Products were snapped up for their geographic presence and Microsoft capabilities, respectively

Unified comms provider Charterhouse continues its buy-and-build growth strategy with the acquisitions of Symity and Digital Exchange Products (DXP).

Lancashire-based DXP expands Charterhouse's presence in the North West and complements the operations of St. Helens-based Lloyds Business Communications which it acquired at the beginning of last year. DXP also adds high-profile customers, such as Manchester City FC and Alder Hey Hospital, to the group's customer portfolio.

Reading-based Symity was snapped up for its Microsoft capabilities, particularly for its skillset around Teams, and for its ability to boost Charterhouse's exposure to larger customers in the SMB space.

Charterhouse implemented its inorganic growth strategy after private equity firm August Equity's investment in it in 2018, snapping up NETconnection and Lloyds last year.

Those acquisitions added 75 new heads to Charterhouse's business and brought vendors including Mitel, Nuix, 8x8 and Palo Alto Networks ato the business. It reported a one per cent increase in its total revenues to £23.9m for its year ending 30 November 2019.

Charterhouse plans to further expand across the UK and add cybersecurity solutions alongside its unified comms portfolio, as well as increase its EBITDA target from £10m to £15m due to the growing importance being placed on security and UC as a result of the pandemic.

"We are delighted to bring on the customers, staff and suppliers of DXP and Symity, allowing us to expand geographically and strategically into the Microsoft arena," state Mickey Patel, August Equity tech partner and NED at Charterhouse.

"These two bolt-ons are the third and fourth acquisitions for Charterhouse with more expected in 2021. We remain keen to consolidate the UC, cyber and networking market in the UK."