Key Capital Partners Invests in CellTech Communications

Founded in 2020 by Jack Gadsdon, Jamie Green and Ryan Betambeau, CellTech provides specialist rigging, electrical, logistics and surveying services for the installation, upgrade, decommissioning and maintenance of mobile telecoms towers. The business has grown rapidly since inception, reflecting the high‑quality service delivered by its co‑founders, and is well positioned to benefit from the continued rollout of 5G infrastructure across the UK. 

Investment Overview 

Key has acquired a significant minority stake in CellTech, which employs approximately 50 staff. The investment will support the company’s next phase of growth, focused on: 

• Expanding its service offering to mobile telecoms principal contractors 

• Scaling operational capability and organisational infrastructure 

• Capitalising on accelerating demand driven by the UK’s 5G rollout 

All three co-founders will remain in their current roles. They are joined by James Browning as Non-Executive Chairman and Mike Suart as Financial Director. 

Sector Experience and Partnership 

The investment builds on Key’s strong track record in the telecoms and infrastructure services sector, including the successful exit of WHP Telecoms and continued investment in current portfolio company Lowton Infrastructure Group (LIG). Our credentials position Key perfectly to support and accelerate the company’s next phase of growth. 

The transaction was led by Key Capital’s Leeds-based team, including Matt Tice (Director), David Cameron (Investment Manager) and James Hall (Managing Partner), who will also join the CellTech Board. 

James Hall, Managing Partner at Key Capital Partners, said: 

“Jamie, Jack and Ryan have built and grown a very well-run business providing a critical service in one of the UK’s most important pieces of infrastructure. The dynamics of the market are hugely favourable and given CellTech’s unique position, we are confident that we have backed a very valuable and attractive business which will continue to grow, expand and deliver for its customers.” 

Jamie Green, Co-founder and Director of CellTech, added:  

“We are incredibly proud of what we, together with the team at CellTech, have built to date and are excited to be partnering with Key Capital as we enter the next phase of our growth journey.  

From the outset, our ambition has been to build a business with the scale, capability, and reputation to become a leading delivery partner within UK telecoms infrastructure, and this investment provides the platform to accelerate that vision. 

Key Capital brings deep sector experience and a strong understanding of what it takes to scale high-quality infrastructure businesses. 

With their support, we are well positioned to expand our service offering, invest further in our people and operational capability, and take CellTech to a level it has not yet reached.  

The opportunity ahead of us is significant, and we believe the long-term potential of the business remains largely untapped.” 

Advisors 

Legal advice was provided to Key by David Parker and Charlotte Martin at Addleshaw Goddard and tax structuring work by Nick Millward of BDO.  

Due diligence was conducted by Paul Kithoray and Phil Dean of Cortus Transaction Services (Financial), Suzy Smith of RPL (Commercial), Sahil Nayyar of Cavu Corporate Finance (Buy-side support), Gareth Murphy of Fluid IT (IT), Dan O’Connell of Gallagher (Insurance), Alistair Preston of Preston Advisory (Operational) and Anna Cornwallis of Stratton HR (Management). 

CellTech shareholders were advised by Bermans (Laura McMorland and Nathan Hughes) and Knights Corporate Finance (Paul Billingham, Alex Stewart, Ryan Batchelor and Lakshmi Reddy), with support throughout the transaction from Interim Financial Director, Adrian Frost.