Global customer services provider Moneypenny has announced plans to go on the acquisition trail in its 25th anniversary year.
The Wrexham-headquartered tech giant was co-founded in 2000 by siblings Ed Reeves and Rachel Clacher CBE and now employs around 1,000 staff and has a group turnover of £75m.
Moneypenny has already made four US acquisitions and chief commercial officer Mark Finlay told BusinessCloud they were eyeing up other targets.
He said: “We’re looking at lots of different avenues, with respect to acquisitions, consolidating the market, but also looking to expand our products and services.
“We started in the US in 2014 and we’ve made four acquisitions so far. We’ve been looking at how we can add-on specific industry verticals.
“For example, our fourth acquisition in the US – Sunshine Communications – is very strong within the healthcare space.
“The most material acquisition we made was a company called Voice Nation back in 2020 and that really shifted the dial for us.
“It took us from being a higher growth, but small US business, into a very profitable part of our group.
“We’re currently working with customers to see where we can add the most value and that’s helping us define our future acquisition strategy.”
Finlay said there was no timetable for when the acquisitions would happen.
He also praised private equity backer ECI Partners, who made a ‘significant investment’ in 2018 in a deal which reportedly valued the business at over £100m.
“ECI Partners are intrinsic to the acquisitions process and they always have been in terms of those kind of strategic decisions that we make,” Finlay said. “It’s very much done in partnership with them.”
Finlay said Moneypenny was investing heavily in artificial intelligence but was taking a blended approach with humans.
He said: “We’re very much about having a hybrid offering. For customers who want AI, we can provide AI, for customers who want humans, we can provide humans, for customers who want a mix which is based upon the nature of the call, we can provide that as well.
“We help businesses stay agile and personal – which is exactly what this climate demands.”
Moneypenny has its US headquarters in Atlanta.