Telecoms Consolidation Continues As Three Deals Complete In A Week

Following hot on the heels of the acquisition of Redstone by Daisy, Knight Corporate Finance announces its latest transactions which all completed in the same week.

Edge Solutions was sold to Spiritel plc which formally completed 20 minutes before the sale of UK Telco to Opal. Later in the week ADK communications was sold to Spiritel. Knight CF advised the shareholders of Edge, UK Telco and ADK over the course of the disposal processes.

Commenting on the deals, Adam Zoldan, Director of Knight CF “These deals continue to demonstrate the buoyancy of the sector and are testament to the success of the channel in building high value businesses.”

Steve Burges, shareholder of Edge who becomes Managing Director of Spiritel Network Services said “Knight ensured I could focus on running my business. They found the best buyer for our company and negotiated a deal that fulfilled our aspirations.”

Alastair Mills, CEO of Spiritel added “Knight’s combination of deal experience and industry knowledge means they can help sellers separate the key issues from the ‘red herrings’ and focus on getting the deal done. As a buyer we know we’re dealing with professional advisors and the sellers benefit from a trusted partner through what can otherwise be a painful process.”

Less than half an hour later Opal acquired UK Telco. Rob Boylett said “From day one, Knight analysed our business and identified areas of where we could quickly increase margin. This alone more than justified their fee, but the level of support we received over the course of the deal and their determination to ensure it was completed on our terms was outstanding” Peter Arundale was equally delighted with the outcome adding “We probably didn’t appreciate how challenging a disposal process could be, but Knight worked hard to get the right deal done. If you are looking to sell your business, you should call Knight Corporate Finance”

Paul Billingham, Director of Knight CF commented “It’s enormously satisfying to be able to assist entrepreneurs realise value for the hard work invested in their business. We have also been investing in people to ensure we had the resource at hand to meet our client’s timescales and expect to announce further deals this year.”