Amid the current economic doom and gloom, as one of the most active consolidators within the UK telecoms market, Chess Telecom has announced yet another acquisition, bringing the total up to 35 acquisitions in the past five years.
In a move that illustrates the strength and flexible nature of Chess’ approach to deal making, the latest database acquisition is of Bradford based XTel Communications. Chess have purchased the calls and lines business, Xtel continues to maintain the customers phone systems.
The latest acquisition allows the vendors to capitalise on their assets, knowing their customers will be well looked after, whilst Xtel continue to trade and build a further customer base to sell to Chess at a later date.
This acquisition will add about £500,000 in revenue to Chess’ 2010 turnover.
Adrian Jackson, managing director of XTel commented: “We have enjoyed a strong working relationship with Chess. Our customers are the most important factor in this deal and we knew that Chess are extremely focused on its customers.
“Chess has a proven track record at making successful acquisitions,” Adrian added. “We knew this flexible deal would give us the best value for us, and more importantly, our customers. I am very confident the transition will be a smooth one and our customers will be more than satisfied.”
Chief executive at Chess, David Pollock, added: “This is our fourth acquisition for 2009, now totalling 35 within the last 4 years and we are continuing to consolidate the telecoms sector. 2009 is a great opportunity for growth for Chess and we have a proven track record of success. Expect to see more Chess acquisition news coming soon.”
Richard Btesh, Chess director continued: “This success is the result of a combination of good integration and customer retention, the flexibility to tailor deals to fit in with the sellers’ requirements. Rapid market consolidation means our list is always growing and our flexibility and reputation enables us to approach increasingly significant targets.”