Browne Jacobson advises Business Growth Fund (BGF) on £10.25m investment into business communications specialist

Browne Jacobson has advised Business Growth Fund (BGF) on a key growth investment into specialist mobile data SIM business, Jola Cloud Solutions Ltd.

Nottingham based Jola provides loT and mobile data services to managed service providers, internet service providers, IT support companies and telecom resellers.

BGF is one of the UK’s most active growth capital investors, having invested £2.5bn in almost 400 businesses since it was established in 2011. The deal was led by BGF investor Seb Saywood and supported by Subi Inayat and will see the company take a 25 per cent stake in the business.

The Browne Jacobson team was led by Nottingham based corporate finance partner Gavin Cummings and senior associate Rachael McDonald.

BGF’s funding will help Jola to further develop and grow its channel partner base and product line.

Seb Saywood commented: “Jola’s growth and innovation continues to impress. We are backing a very experienced, proven team. "They are continuing to innovate and deliver very high service levels to their channel partners through automation. Jola has clearly differentiated product capabilities, with a specialism in e-SIM provision, a very high growth part of the market.

"The projected growth of the global mobile data market is considerable, with demand for such services expected to accelerate with the anticipated roll out of 5G."