The annual awards recognise the performance of technology companies across the UK, and are judged by an independent body of adjudicators with key criteria including growth, profitability, cash conversion and size.
Ricky Nicol, CEO of Commsworld and winner of our prestigious 2019 Lifetime Achievement Award, said:
“The past year has been a year of exciting growth and change for Commsworld – we’re delighted that our first ever Megabuyte Scorecard has taken us straight into the top 50. This recognition is testament to our commitment to building a next generation telecoms network across the UK.”
Commsworld have built and are expanding the largest independently owned Next Generation Network in the UK and have done this with no external funding or debts. It has 110 staff based across its offices in Edinburgh, Glasgow, London and Aberdeen. For the financial year ending December 2018, it recorded revenues of £21.5M – a 41% increase on the previous 12 months. EBITDA grew from £2.3m in 2018 to over £4m in 2019.
In December 2019, mid-market private equity house Lloyds Development Capital (LDC) completed a record-making double digit investment in Commsworld in a deal giving them a 50% equity stake in the business. The investment from LDC will help the existing management team to build on the success of the business in recent years and bring its super-fast and resilient connectivity to more organisations across Scotland and the UK.
Commsworld has become a driving force behind the rollout of high-speed fibre broadband services. It teamed up with digital infrastructure provider CityFibre to bring about a 150km fibre optic network that put Edinburgh on the map as a Gigabit City. To those of us not in the know, that means enjoying unlimited bandwidth and gigabit speed! 17,000 businesses have the opportunity to use the network & Commsworld have also been instrumental in helping Glasgow and Aberdeen gain Gigabit City status.
Commsworld has continued to win major public sector contracts and has acquired a cloud services business. They have also expanded their Fluency network to create what is highlighted as the UK’s largest, independently owned, ultra-fast optical core network.
We’re delighted that Ricky is the speaker at our February Supper Club in Edinburgh and are looking forward to him sharing the story of his incredible entrepreneurial journey.