Firstcom Europe Secures Additional Financing with Kartesia and Simultaneously Completes an Acquisition in the UK

Firstcom Europe, a leading pan-European cloud telecoms company, has announced that it has reached an agreement with Kartesia to extend and upsize its existing loan facility. This transaction follows on from Kartesia’s initial investment in Firstcom during 2020. The enhanced financing package includes additional drawn and undrawn facilities that will be used to support further growth and diversification through M&A.

Over the past 10 years Firstcom has completed 14 acquisitions and now has an annual turnover of over €48m. It has developed a Unified Communications (UCaaS) system which encompasses enhanced voice services, softphones and SIP channels for SMEs. Using a range of partners to provide advanced cloud solutions, Firstcom currently operates in the UK, Germany, Sweden and Denmark, where it is seeking to pursue further acquisitions.

Firstcom has already completed an acquisition since the loan extension, purchasing a customer base with a turnover of more than €1.2 million annually. Approximately 35% of this revenue is derived from IT services, an area which has become a focus of Firstcom’s product expansion strategy. Complementing this is the transfer of the in-house IT professionals that manage the service.

Christian Bleakley, CEO of Firstcom Europe commented, “We have built a strong relationship with Kartesia over the past 4 years and are pleased to continue working with the team. Our partnership has always been open and productive. I look forward, with their support, to accelerating our new business model which includes a broader range of products and enhanced cross selling.”

Nick Holman, Partner and Head of the UK and Ireland at Kartesia, added “We are delighted to continue supporting Firstcom, having seen the positive trajectory since we first partnered with the business four years ago. Firstcom has a strong reputation in the market and the additional capital provided through our investment will allow the business to deliver further organic growth, and to capitalise on an exciting pipeline of attractive M&A opportunities as it continues to expand.”