Excalibur Communications focuses on strong growth following Management Buy-Out supported by Santander
Swindon-based Excalibur Communications, a leading UK telecoms and IT solutions service provider, has undergone a Management Buy-Out (MBO) supported with significant funding from Santander Corporate & Commercial.
The management team led by CEO, Peter Boucher will take majority ownership of the firm, as part of Excalibur Communications’ five-year strategy for growth. Former owner and CEO, James Phipps, retains a minority shareholding. He remains involved with the company as Executive Chairman. The aim is for the management team to take full ownership of the business within five years and to increase investments and acquisitions in new technology.
Excalibur has always believed its partners (staff members) should be properly rewarded for their success and hard work. As an integral part of the growth plan and MBO, Excalibur and James Phipps have devised an extraordinary £1 million bonus incentive scheme for the company. Directly linked to the success of the business, partners will receive an equal share of the bonus at various milestones as Excalibur grows.
The company has built a ‘Wall of Dreams” in the office, where partners have created an inspiring visual of what they want to do with their bonus. Goals include: raising money for a house deposit, taking a once in a lifetime family holiday, buying cars and raising money for charity.
The business recently marked its first year under CEO Peter Boucher, with a record volume of activity. The firm met its expansion plan objectives for the year by delivering organic growth, the integration and acquisition of Ntegra IT Support Services, and a strengthened management team with the appointment of Richard Evans as finance director in September 2017.
Chris Mears, Relationship Director at Santander worked on this transaction with Martyn Drake, Director of Growth Capital, Santander. Chris said; “Excalibur is an exceptional business with a relentless focus on customer care and a wonderful culture. We have been impressed by the quality of the management team and the plans in place to achieve their growth ambitions and have been delighted to support the management team in the execution of this MBO.”
Peter Boucher, CEO, Excalibur Communications, said: “We see this backing by Santander as an endorsement of our ambition to scale up the business. We have achieved our targets for the first year and are excited about delivering the rest of the five year plan. Our staff partners are at the heart of our business and we want to make sure they reap the rewards as the business grows. The £1million pound bonus will be shared equally amongst them.’’