Maintel Holdings today announced the acquisition of Proximity Communications Limited and its subsidiary Achilles Professional Services Limited in a £9.6 million net cash deal.
Commenting on the acquisition, Eddie Buxton, CEO, said: “Proximity is a highly respected business and builds on Maintel’s offering in a number of key areas. This is a core strategic investment for Maintel, bringing in new services and enhancing our existing capabilities, to create a new proposition that’s important to our long term growth, and will be a direct benefit to our customers.”
It will remain business-as-usual for all Maintel and Proximity customers with no immediate changes to the Proximity company name or branding. Former Proximity CEO Darren Boyce will join the Maintel board as a Non-Executive Director.
“We are delighted to welcome Proximity into the Maintel Group; the combined strength of the two businesses is a very logical and exciting prospect,” continued Eddie Buxton. “Maintel and Proximity both have strong reputations in the market and we are confident that combining our services will provide the Group with new and enhanced service offerings to our customers.”