AdEPT has announced its’ results for the year to 31st March 2015 and another acquisition.
Ian Fishwick, AdEPT CEO, stated “This is our 12th year of rising EBITDA with EBITDA up 13.5% to £4.6m on revenues up just under 6% at £22.1m. At year end our debt was down to £1.5m. We have no intention of going cash positive as with interest rates so low, £1m in the bank at 0.5% interest pays you about £400 per month income. It’s quite scary when you look at it like that. We will therefore continue to buy companies.”
In April 2015 AdEPT announced a new £15m debt facility with Barclays to fund more acquisitions. This was quickly followed on 1st May by the acquisition of Centrix, an Avaya Aura specialist based in Hook.
Fishwick continued “This is the first time we have moved to a 2 site operation. Our capabilities are now much enhanced in the areas of IP Telephony (on and off premise), Unified Communications and WiFi and our 1250 larger customers now represent around 70% of our sales revenue.”