Waterland Enters Early Talks to Take Gamma Communications Private
Gamma Communications has entered early-stage discussions with Waterland Private Equity Investments over a potential takeover of the UK telecoms services provider. The move adds another private equity bidder to the company’s strategic review, according to Private Equity Wire.
Waterland Discussions and Timeline
Gamma said on Friday that talks with Waterland were ongoing but cautioned that there was no certainty an offer would ultimately be made. Waterland has until 18 September to announce whether it intends to make a firm offer under UK takeover rules. The potential transaction could involve a carve-out of parts of Gamma’s business. According to Private Equity Wire, Waterland is considering a bid that would see IT services provider Giacom acquire certain operations from Gamma. Gamma confirmed that Giacom is acting in concert with Waterland in relation to the potential transaction.
Other Active Bidders
Waterland is not the only sponsor considering an acquisition of Gamma. The company is also in discussions with Epiris, which faces a 2 September deadline to either make a formal offer or withdraw from the process. Oakley Capital and Providence Equity Partners ended their respective approaches in June. Gamma said discussions with other potential bidders were continuing.
Share Price Reaction
The news sent Gamma’s shares up about 7.3% to £10.40, their highest level since September 2025. The company had a market capitalisation of approximately £863 million at the previous close. According to Private Equity Wire, the interest comes amid renewed private equity appetite for UK-listed companies.
Gamma provides communications services to businesses in the UK and operates across areas including cloud communications, unified communications and connectivity.
