LDC-backed Babble has made its third acquisition of 2020.
The cloud communications firm has swooped for Corporate Management Telecom, which is headquartered in Braintree, Essex and provides telephony among other cloud services to 500 customers.
Since Babble partnered with LDC in 2017, the business has delivered double-digit organic and acquisitive growth including the purchase of Arden Group, Direct Response Plus, Diva Telecom and Lake Technologies.
The business has more acquisitions in the pipeline.
Matt Parker, CEO at Babble, said: “This is a thrilling and defining time for Babble. As we continue to expand through acquiring high quality businesses, we are getting closer step by step towards our £100m revenue target. We focus on innovative and resilient businesses that are making interesting moves, and CMT fits perfectly within that category.”
Pascoal De Oliveira, Sales Director at CMT, said: “We are incredibly pleased to play a role in this ambitious period of growth for Babble and feel optimistic for the future of the business and industry.”
Chris Morris, Investment Director at LDC, said: “When we partnered with Babble in 2017, we had a clear plan to grow the business through a targeted buy and build programme. Over the last three years we helped the management team to scale the business significantly, and the latest acquisition will further bolster its offering across the UK.”
Since July 2018, LDC-backed businesses across the UK have acquired more than 45 companies with a total enterprise value of over £275m.