Telecoms firm dials up £20m of funding

LANCASHIRE-based voice, hosting and data centre specialist Elitetele.com has set its sights on further growth after securing funding worth up to £20m.

The facilities have been provided by the Lloyds Bank Commercial Banking’s Manchester mid-markets and strategic finance teams.
 
Elitetele.com at Chorley has made 11 acquisitions since 2008, including London-based Modern Communications and Stoke-based Qualitel Voice & Data in the last 12 months, and continues to look for further opportunities.
 
The company offers a range of communications services including hosting and call solutions. It recently launched a global services division aimed at tackling the stress businesses face when dealing with multiple providers and different platforms in relation to a global numbering strategy.
 
Revenues of £31m were posted for the year ending July 2014, an increase of 31% on the previous year, thanks to the successful integration of previous acquisitions, as well as investment in emerging mobile and cloud technology.

Founded in 2000, the business employs about 120 staff with customers spanning a wide range of sectors from hospitality to travel.
 
Chief executive Matt Newing said: “As business confidence returns and technology develops faster than ever before, our customers require increasingly complex solutions.

“The flexible funding and expertise provided by the Lloyds Bank team will enable us to continue to meet customer demand through the acquisition of businesses at the cutting edge of data, hosting and connectivity.”

Lloyds Bank relationship director Terry Errington, said: “Elitetele.com has enjoyed significant success in recent years, thanks to a series of strategic acquisitions through which it has expanded both its product offering and customer base.”
 
Vicki Daly, strategic finance director at Lloyds Bank, said: “The experienced and ambitious management team has a proven track record in the integration of acquired businesses, and we are confident that this strategy can continue to drive Elitetele.com’s growth in a considerably competitive sector.”

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