One of the UK’s largest tech business process outsourcing and communications firms has been acquired by a London-based investment firm.
Manchester firm Intelling has been sold by NVM Private Equity to London-based RDCP Group, and there are now hopes to increase its turnover by over 50% – from £40m to £65m. RDCP has acquired a 67.4% percent stake.
NVM first backed Intelling in 2017 – with its range of clients having then included a major contract with O2.
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As a result of both investment and additional board support, the company said it has been transformed into a £40m turnover, tech-enabled business employing more than 1,000 staff at multiple sites, both in the UK and overseas.
The firm now counts blue-chip companies such as Vodafone, TalkTalk, Serco and Experian as clients, as well as O2.
Phil Morgan, Founder & CEO of Intelling, said: “We are pleased to embark on the first step of our strategic partnership with RDCP, which will support Intelling’s ambition to increase our client base and improve the accessibility of our services by providing innovative, affordable and technically advanced BPO services to businesses across the UK and extend our international presence even further.
“What really appealed to me was RDCP’s approach to long-term investments. Partnering with Sameer and Iryna provides us with the right platform to continue building an even more successful business.”
The existing management team led by Mr Morgan will retain a large stake in the business and work closely with RDCP founders, Sameer Rizvi and Iryna Dubylovska, on Intelling’s future growth strategy.
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Mr Morgan retains a 20.4% stake in the business.
The deal is RDCP’s seventh acquisition in the last 18 months, following its purchase of Chilango, Ancient House Printing Group and multiple acquisitions for RDCP Infrastructure.
It now controls $350m of investments across multiple sectors in the UK.
Sameer Rizvi, founder and CEO of RDCP Group, said: “I couldn’t be more excited about the Intelling acquisition.
“Six months in the making, this is our largest acquisition to-date and a major milestone for RDCP Group. Iryna and I look forward to working closely with Phil, Craig, Steve and Glenn on executing their business plan of making Intelling a £65m turnover and £11m EBITDA business by 2024.”
NVM said its exit from Intelling has provided investors with a 4.0x return on investment and is NVM’s fourth exit in less than 12 months, with the most recent having been the IPO of musicMagpie.
Karl Cockwill, portfolio director at NVM, said: “The Intelling team has delivered exceptional growth over the last few years, and we are delighted to have been part of that journey providing NVM’s investors with a 4.0x return on their investment.
“The management team, led by Phil, have done a fantastic job in growing the business into a major employer in the North West, and we wish them well on the next stage of their journey with the new investment from RDCP.”