Liverpool telecoms business sold to French company

Liverpool firm MJ Quinn has sold its telecoms division to a French company for an undisclosed amount.

The sale to Visabeira/Constructel means that Palatine Private Equity has now exited from the business.

MJ Quinn, which is headquartered in Liverpool, specialises in the provision of a variety of telecoms services including access network solutions, fibre roll out for businesses and households and provision of energy efficient cooling solutions.

Palatine backed the secondary buyout of the business in 2008 from its maiden £100m fund.

Visabeira/Constructel is a major provider of telecommunication network infrastructure engineering with operations throughout Europe and Africa.

The acquisition of MJ Quinn’s telecoms business will provide a platform for growth in the UK telecoms market.

Visabeira/Constructel followed a similar model when it entered the Italian and Belgian telecoms markets.

The existing management team at MJ Quin including chief executive Mike Quinn, managing director Alan O’Prey and finance director Mike Orme, will stay with the business.

Ed Fazakerley, partner at Palatine Private Equity, said: “It has been great to work with Mike and the management team over the last few years as the business broadened its service offering, achieving significant growth as a result.

“The sale to Visabeira/Constructel provides the business with the necessary financial and operational backing to continue on its impressive growth journey over the next five years.”

Palatine Private Equity continues to hold a majority stake in MJ Quinn’s rail business which was recently rebranded as Quinn Infrastructure Services Limited.

Palatine Private Equity was advised by Dan Gallagher, Oliver Wilding and Richard Baty of PwC, who provided corporate finance advice.

Jon Robinson and Katy Phillips of DWF provided legal advice, with Colin Smyth and Tim Douglas of RSM advising on tax structuring.

MJ Quinn was advised by Craig Scott of Hill Dickinson who provided legal advice and Hilary Sharpe of BDO providing tax advice.