FTSE 250 firm Gamma Communications has reported its latest half-year results ahead of a £1 billion take-private deal.
London private equity house Epiris recently agreed terms with the board of the technology firm, which is seeking shareholder approval for the takeover.
Gamma, led by CEO Andrew Belshaw (pictured), is a European business communications tech provider which employs more than 2,000 people.
For the six months ended 30th June 2026, revenue grew 4% to £330 million. Adjusted EBITDA was up 2% to £72.5m while profit before tax climbed 15% to £50.1m, it said.
“Group results were underpinned by strong growth in our German businesses… and were delivered despite the continued challenging UK SME macroeconomic backdrop,” Gamma stated.
“Germany SME increased gross profit by 30% to £44.8m… UK SME gross profit declined by 7% to £69.3m reflecting ongoing market headwinds and continuing pricing pressure, as well as some non-recurring credits in H1 2025.”
In May Gamma announced that it was in talks with Providence Equity Partners about a possible takeover bid, and soon afterwards it also opened discussions with Epiris.
In June the two private equity houses formed a consortium. However Providence pulled out of any potential deal later in the month. PE firm Oakley Capital also withdrew from its pursuit of Gamma in June.
Gamma, whose core markets are the UK and Germany – with additional presence in Spain and the Benelux region – completed a restructuring last year to slash annual operating expenses by £7m. Its valuation suffered, making it a target for acquisition.