KCOM owners to take over at Wavenet after seven years of Beech Tree Macquarie Capital has agreed to purchase cloud telecoms, IT and technology MSP Wavenet from private equity firm Beech Tree. Beech Tree invested in Wavenet back in 2016, overseeing its growth from a £14m turnover business to over £60m in 2021 through a mixture of acquisitions and organic growth. The Wavenet transaction follows other Macquarie Capital investments in UK medium-sized businesses such as Glasgow-based Energetics and Yorkshire-based Premier Technical Services Group.