- Acquiring most of the assets and trading business of the Woven Group from the administrators resulted in the saving of approx. 250 jobs and the creation in 2024 of an additional 200 new jobs.
- Included in the acquisition was the purchase of T-point, a software business previously acquired by the Woven Group in a £10m deal.
- Nine months after being acquired by the UK's largest BPO Assembly, the Woven Group has shown to be back in profit.
MANCHESTER, England, March 13, 2024 /PRNewswire/ -- iCXperience, the UK's largest private-owned call centre group, has announced its first four months trading results from the acquisition of Woven, a prominent UK based BPO (Business Processes Outsourcing), of which has achieved profitability within its first year of transition.
Woven, based in Bristol & Ipswich has delivered its first ever profit in several years under its new ownership of iCXperience. Woven Solutions Group's, which included well-known call centre companies such as Ansaback, Direct Response, and Office Response, was purchased and came out of administration last year.
With over £42.7m of capital deployed, Woven Solutions Group had rapidly grown since 2018 through acquisitions of several regional call centre businesses in Bristol, Ipswich, and across the UK.
Katherine Horton, Group HR, said: "We are delighted to have added the Woven Group into our Portfolio list. The acquisition ensured the continued growth and success of our business, and our first 9 months of working with our new colleagues at Woven has already delivered innovative and effective solutions for all our clients."
Reuben Singh, Group CEO said: "We are currently involved in multiple acquisitions while experiencing significant year-on-year organic growth across its businesses. Our aim is to preserve the successful culture of Woven that has contributed to its accomplishments, whilst integrating it into our Group and enhance our overall capabilities across the various businesses."
Last April, the Group acquired most of the assets and trading business from the administrators of Woven Solutions Group & several associated companies, saving hundreds of jobs. Woven and other planned acquisitions will accelerate the Group's growth plans to exceed £100m turnover. The trademarks & brands of Woven were also acquired as part of the deal which along with most of the assets, safeguarded the employment of hundreds of staff who were transferred into the new company, that now trades as We are Woven.
In the last filed accounts before administration, WSL Group had revenues of over £19.6m, and the acquisition has given We Are Woven the ability to scale its UK operations and increase both its client base delivery of customer service outsourcing services. Since the acquisition We are Woven has continued to grow across different sectors, such as Ecommerce, and Facilities management, and supports the Telecommunications sector with emergency call-out and 24-hour customer services. The acquisition was funded with Group's cash reserves, and it will continue to be 100% family-owned with no equity or debt partner.
We are Woven holds a very strong business proposition with a very established and experienced management team and the Woven Group has had significant invested in the business over the years with a long track record of established clients. The Woven acquisition was strategic for iCXperience as it adds presence of a 400-seater site in Bristol, Ipswich and large work base of homeworkers.
Reuben Singh, Group CEO adds: "We are pleased to have added the Woven Group last year to our portfolio of UK based Outsourcing Companies. This has given us an even stronger presence across the UK. We are proud to have acquired such well-established and reputable companies such as Direct Response, Ansaback, Office Response as part of the acquisition. We are committed to delivering the highest level of customer service outsourcing for our clients & also as we grow our Medical divisions that has worked tirelessly throughout the pandemic and as we emerge from this. This acquisition not only gives the Group meaningful scale and footprint across the UK, but it will also improve We are Woven's ability to expand its service offering, increase its surge, and improve disaster recovery."
About We Are Woven
We Are Woven is a customer experience agency based in Bristol and Ipswich. With over 400 employees, the company provide a range of services, including customer service support, digital marketing, and create design. We Are Woven is committed to delivering innovative and effective solutions to its clients, and it dedicated to providing the best possible customer experience.
Logo: https://mma.prnewswire.com/media/2361633/Woven_Logo.jpg
View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/acquisition-of-woven-group-accelerates-icxperience-the-uks-largest-privately-owned-call-centre-group-towards-100m-turnover-302088082.html
