Former owner and CEO James Phipps retains a minority share of the Swindon-based firm
Excalibur Communications CEO Peter Boucher (pictured) led a management buy-out of the business to take a majority share.
Former owner and CEO James Phipps retains a minority share of the Swindon-based firm. He stepped down as CEO in April 2017 making way for Boucher and became executive chairman, a role he retains post buy-out.
Boucher is aiming for the new management team to take full control of the business within five years and increase investments and acquisitions in new technology.
The buy-out was funded by Santander Corporate and Commercial, a figure was not disclosed.
Alongside its partnership with Vodafone, Excalibur Communications is also an EE Strategic Partner, Microsoft Gold Partner, Gamma Accredited Partner and a HP Gold Partner.
Commenting on the buy-out, Boucher said: “We have achieved our targets for the first year through sustainable growth and productivity gains. The funding from Santander, alongside a team of motivated employees and strong senior management, place us in a strong position to build and grow Excalibur in the long term.”