£20m pot sets Elitetele.com up for acquisition spree
Chorley-based voice, hosting and data centre specialist Elitetele.com has created an internal acquisitions team to help it find and secure acquisition opportunities while announcing it has £20m to spend on M&A activity.
The company has acquired 15 companies since 2008, all of which have been funded through internal cashflows and conservative leverage with no outside investors.
The group now has revenue in excess of £50m with underlying EBITDA of over £8m, representing growth of 37% and 43% over Elite’s FY16 results.
The group also has in excess of 165 staff across seven locations.
Founder and chief executive of Elitetele.com, Matt Newing, said: “Our aim is to continue grow our business through both organic and acquisitive means. We’ve created a dedicated team within Elite to ensure we have specifically focussed people working on our M&A activity. They are then supported by a comprehensive integrations team to ensure we can respond to potential deals quickly.
“With the combined experience of the team, we are able to take a slightly different, and in my opinion better, approach to M&A activity. We build a strong open relationship with vendors and rather than offering high with the intention to then chip the price before completion, we take an honest and straight-forward approach that gives business owners clarity on the value offered and deal structure that they can rely upon. We pride ourselves on our reputation of paying out what we said we would. To me, that is success for us and for the vendors.”
The newly created dedicated acquisitions team is headed by Rob Burbidge and Alex Cliffe.
