Chess, one of the UK’s fastest growing telecoms companies, this week celebrates its first acquisition of 2008 and its 25th in total.
Chess’ latest acquisition is of the customer base of Midlands based business telecoms provider Synex Network Services. Synex focused on providing exceptional customer service and had established a loyal customer base, the profile of which is varied and from diverse business and geographical sectors.
25 acquisitions have established Chess’ reputation as the leading consolidator in the telecoms market. As a result of its expertise Chess completed the Synex deal in under two weeks. The acquisition takes effect from January 1st 2008.
Notwithstanding the fast pace of the transaction Chess’ success with acquisitions, is largely due to the importance it attaches to successful integration. It sees every acquisition as a long term growth strategy.
By focusing on customer retention and the growth and development of the base, Chess maximises the value of the acquisition for the customer, the seller and Chess itself. It measures and monitors the success of every integration process and demonstrates tangible benefits to telecoms businesses wishing to capitalise most profitably on their customer base. Chess’ 25 acquisitions are testament to its ability to do this.
Ann Taylor, Managing Director of Synex, sold the customer base in order to pursue other ventures and it was important she made the right decision when it came to choosing a buyer. “I was advised to approach Chess when I started thinking about selling,” she said. “Since I first got in touch, I have worked closely with many people from all levels in Chess and all the way through I have felt that Chess is focused on its customers and will go the extra step to give Synex customers the same high level of service we aimed to give them. I am confident that the transition will be a smooth one and our customers will be more than satisfied.”
Richard Btesh, Director of Corporate Finance at Chess said this milestone demonstrated the business’ focus on achieving significant future growth through acquisition in the next year.
“This landmark acquisition is the tip of the iceberg for Chess in 2008. We will be making the most of the increasing opportunity created by rapid market consolidation and our focus is on achieving considerable growth through acquisition in the next 12 months. We have developed an innovative acquisition model with the flexibility to enables us to approach increasingly significant targets. We have an increasing number of targets and because of our reputation the list is growing. We expect to be making more announcements over the coming months so watch this space!”