Telecom company swoops to buy rival in pounds 3m deal; IN ASSOCIATION WITH Rensburg Sheppards Largest purchase so far for St Helens firm.
ST HELENS-BASED Elite Telecom has acquired rival telecommunications firm GP Telecom in a pounds 3m deal.
The acquisition will see Rochdale-based GP join the growing Elite Telecom portfolio, which also includes its European division, Elitetele. SA, based in Madrid.
GP Telecom is a well established telecoms solutions provider with a client portfolio of over 2,500 customers.
The company, which includes Freetime Communications and Gem Communications, will bring additional expertise to the Elite Group, taking the total number of staff to 120.
This is the largest acquisition to date for Elitetele.com Holdings as the group, based in St Helens, pursues a growth strategy.
It is seeking other acquisitions and is in negotiations with another telecoms company.
GP Telecom will continue to operate as a separate company.
Elite managing director Matt Newing said: "This acquisition is key to our future growth strategy and represents a substantial step forward for the Elite group.
"GP Telecom have in place an experienced, dedicated team which fully complements Elite.
"Additionally, they bring knowledge of products and services which will enable us to offer an enhanced portfolio to our customers. This is a fantastic opportunity for us.
"We have a clear vision for the future of the group and intend to continue our expansion both organically and through further acquisitions so that we can continue to deliver an excellent range of products and services." Elite offers a range of telecommunications services to businesses. They include online call management, bill analysing, disaster recovery and the setting up of 0800 and 0871 numbers Elite was represented in the deal by Liverpool-based corporate law firm, DWF.
Partner Gareth McIntegart said: "This acquisition is a significant step for Elite Telecom in achieving their growth strategy.
"We've been working with the company for the last couple of years and are delighted to be helping them achieve their goals."
Matt Newing, managing director of Elite Telecom - this acquisition is key to our growth strategy
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|Publication:||Daily Post (Liverpool, England)|
|Date:||Jan 30, 2008|
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