To support its search for strategic acquisitions in 2015, Elitetele.com has secured £20 million in funding from Lloyds Bank Commercial Banking. The funding provided by the bank’s Manchester Mid-Markets and Strategic Finance teams will aid Elitetele.com’s ongoing search for businesses to complement its continued growth in the telco, IT, PBX and connectivity sectors.
Having reported revenues of £31 million for the year ending July 2014, Elitetele.com saw an increase of 31 per cent on the previous year, thanks to the successful integration of its previous 11 acquisitions and investment in emerging mobile and cloud technologies. With businesses including Modern Communications and Qualitel Voice & Data Ltd integrated into the business in the last 12 months, Elitetele.com’s aim is to be the unified communications provider of choice, adding skills, experience, products and clients and expanding its capabilities to attract new audiences.
Matt Newing, CEO at Elitetele.com said: “We see organic acquisitions as a key part of our growth strategy and the best route to attract new customers and establish ourselves as the unified communications provider of choice. As technology continues to evolve faster than ever, our customers require increasingly complex solutions. It is our goal to acquire the expertise to meet these needs in the next 12 months and the funding from the Lloyds Bank team will enable us to take a huge step forward to ensure we’re at the cutting edge of data, hosting and connectivity.”