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(L-R) Stephen Galvin, Kelly Bolderson and Patrick Gore

The managing director and majority shareholder of Glamorgan Telecom has led a full management buyout of the Cardiff business backed with equity from Finance Wales, which has taken a 15 per cent stake. The deal has also provided an exit for founding director Neal Pughe.

As well as taking an equity stake in the business, Finance Wales has also provided debt finance of 1m to support the growth of the business which is led by Kelly Bolderson.

The buyout brings the company, which has been trading since 1993, under the full control of the current board.

Under Bolderson's leadership, the company is implementing an expansion strategy that aims to lift revenue past 5m by the end of 2018.

To reach this target Glamorgan Telecom has grown its sales team by 40 per cent, developed an enhanced range of products and services and expanded into new geographical regions.

"The completion of the management buyout is hugely important for Glamorgan Telecom, this really is the beginning of a new and exciting journey for the business and we thank Finance Wales for their help and support during this process," said Bolderson.

"With a full buyout in place, the management team has full control to guide Glamorgan Telecom into an exciting new chapter.

"We have seen significant positive change within our business over the last few years, and with the investment from Finance Wales we can continue with our expansion plans and ensure Glamorgan Telecom continues to be one of the leading telephony solution providers in the region."

Stephen Galvin and Navid Falatoori structured the investment for Finance Wales and Patrick Gore from Hollis Gore Associates also played a role in structuring the agreement, together with Mick Tinning from Hugh James Solicitors.

Galvin said: "The company is by far the longest serving player in its field and its enduring brand is recognised in the market as a safe and respected partner to work with.

"With ongoing plans for growth, the business has exciting times ahead."

The deal between Glamorgan Telecom and Finance Wales marks the latest investment from the Wales Management Succession Fund, a Welsh Government-backed 25m fund supporting business succession for growing Welsh companies.

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Management takes full control of Glamorgan Telecom - Insider Media