Svella Plc, a privately funded acquisition and turnaround vehicle set up to operationally improve companies with significant growth potential in exciting sectors, has agreed terms with Jorvik Design Group Ltd – a leading UK telecommunications network planning and design company.
Svella has agreed a funding facility to support the exit from Jorvik of Adriaan Rhodes, co-founder of Jorvik, who will be leaving the business to concentrate on other opportunities outside of the fibre design sector.
The terms agreed allow for the conversion of this funding facility that would see Svella acquire a controlling interest in Jorvik. Svella will be working alongside the team at Jorvik to help drive performance and spearhead growth in this dynamic sector.
In addition, this partnership with Jorvik will enable Svella Connect, a significant operator in the fibre infrastructure sector, to offer its clients a full turnkey solution for design and build.
Andrew Tinkler, Executive Chairman of Svella Plc, said: "We are very excited to be working with the team at Jorvik to help the company achieve its next stage of growth. It is a very natural partnership with our existing telecommunications business Svella Connect and we look forward to working together to deliver critical digital infrastructure to an increasingly connected UK. I would like to thank Adriaan for all his hard work in growing Jorvik into an industry market leader and wish him all the best in the future."
Charlie Farley, Co-Founder and Director of Jorvik Design Group, said: "This support from Svella Plc is a huge opportunity to grow the business and take it forward. Svella is run by a team of highly successful entrepreneurs who share our aims and ambition. Our partnership will help both companies provide full turnkey services for our clients and we look forward to working with the team at Svella."
Yorkshire-based Jorvik Design Group was founded in 2019 and has quickly grown to be one of the market leaders in the surveying and design of fibre and civil construction networks across the UK.
Trusted by some of the biggest names in the high-tech engineering industry Jorvik has over 80 employees across both the UK and Portugal and has become a key player in connecting all types of communities to a modern and digital future.