- Onecom is a business communications technology and cloud communications specialist
- LDC first invested in Onecom in 2019
- LDC is the private equity arm of Lloyds Banking Group and is based in London
Onecom Group, backed by LDC, has acquired On-Site Connect’s customer base and operating assets. No financial details of the transaction were disclosed.
On-Site is a cloud technologies provider headquartered in Portsmouth.
The transaction combines the On-Site team, business assets and customer base into the Onecom Group, according to a release.
This deal marks Onecom’s second buy in 2023, and its 10th since LDC invested in the firm in 2019.
“The geographic proximity of the On-Site operation, and the complementary nature of the household name customer base with our existing customer family, make this transaction a perfect fit in our M&A strategy,” said Martin Flick, Onecom Group CEO.
Onecom, headquartered in Whiteley, Hampshire, is a business communications technology and cloud communications specialist. The firm employs more than 600 people in offices around the UK.
LDC is the private equity arm of Lloyds Banking Group. The firm is headquartered in London. The firm has a UK-wide network of regional offices.
Shoosmiths and HTM transaction served as advisor for Onecom while Onsite Communications was advised by Thursfields Legal.
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