Communications group announces latest acquisition
Owner-operated Elite Group, based in Chorley, has agreed its latest acquisition with MWL Systems, for an undisclosed sum.
Operating from their office in Wrexham, MWL Systems is an IT support and services business, and this latest acquisition is Elite’s 17th since 2008.
Elite provides unified communications and IT services and its IT services division practice has been expanding rapidly over the past two years as it focuses on the opportunities in the growing service sector.
Acquiring MWL Systems gives Elite access to an additional 40 highly-skilled and experienced IT staff with a proven track record of supporting and growing their business and customers.
Tech entrepreneur, Matt Newing, best known for founding Elite Group, said: “I’m delighted to welcome the MWL team into Elite Group with the added capabilities they bring.”
He added: “Elite will continue to grow through both organic means and acquisition. We have a further £20m in our acquisition war chest and are actively looking for opportunities.”
Group chief executive Rob Sims said: “As we look to expand our IT Services offering and more of our customers are using us for both their communications and IT requirements, strengthening our knowledge base, skills and expertise is essential.
“By acquiring MWL Systems we are gaining experience and knowledge that will underpin our service to customers, as well as help us to continue to expand our business.”
Matthew Kingsley-Williams, managing director of MWL Systems, said: “Our team is looking forward to working with Elite and sharing our knowledge and skills; as well as introducing our customers to the wider group along with what they can offer in terms of new products and services.
“It’s an exciting time for our team. Being part of the Elite Group will open up new opportunities for all of us, and we’re looking forward to this new chapter.”
Alex Cliffe, commercial director, and Rob Burbidge, group chief financial officer, led the acquisition for Elite, with Gareth McIntegart, Elite’s counsel, providing legal advice.
Leveraged finance was provided by the company’s existing lender, Lloyds Banking Group. MWL Systems was represented by KBS Corporate.
Elite intends to continue to grow by organic and acquisitive means, and the Elite team are actively looking for IT and communications businesses to buy that complement Elite’s existing product offering.
