Shropshire Star

Jobs boost for Telford as firm secures £100 million funding package

A telecommunications provider is expanding after securing a £100 million funding package.

Published
Ben Dowd, Onecom CEO

Onecom has confirmed it will create a number of jobs at its Telford office in Stafford Court following the funding from mid-market private equity firm LDC and credit funds managed by an affiliate of Ares Management Corporation to help support organic and acquisitive growth.

The business manages nearly 100,000 business customers, delivering communication services to companies across the UK.

It employs 400 people across 10 regional offices but said it does not wish to disclose the number of jobs created in Telford as a result of the investment.

The company said over the next three to five years, it expects to increase the workforce substantially and invest in methods of expansion.

Ben Dowd, Onecom CEO, said: "I am delighted that LDC have backed the Onecom management team to pursue our growth strategy over the next few years.

Opportunities

"We have worked very closely with LDC over the last few months and they share the same level of ambition as we do.

"We can confirm an increase in the Telford headcount which is underway.

"This investment will help accelerate Onecom’s growth organically and inorganically.

"The opportunities that exist for Onecom are significant both from a partnership and an acquisitive perspective.

"Onecom has a proven track record of delivering growth and this approach will now be super charged.

"The market is ripe for consolidation and Onecom can play a big role in this across mobile and fixed solutions where there is a huge number of resellers. I am very excited to work with LDC and of course my management team to deliver this growth over the next three to five years.”

Darren Ridge, who founded Onecom in 2002, said: “It’s great to get LDC’s backing and support for our vision.

"Under Ben and the management team’s leadership, we will see the business grow substantially over the next five years.”

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