Finance firm completes two multimillion-pound deals

Knight directors Adam Zoldan, left and Paul Billingham

Warrington-based technology and telecoms advisor Knight Corporate Finance has advised two clients on recent deals.

One was for the shareholders of Telford firm Network Telecom on its sale to Enreach, having also advised Worsley-based Invosys on its multimillion-pound re-finance package from Santander.

Knight’s long term client, Network Telecom has been acquired by Enreach, the fast-growing European group backed by pan-European investment company, Waterland.

Founded by Paul Maxfield in 1997, Network Telecom provides business telephony, hosted voice, lines and calls, connectivity, mobile and IT services to approximately 2,400 small businesses across the UK.

Knight has been working with Network Telecom for a number of years in an ongoing advisory role for the founder.

When Knight was approached by Enreach it was able to discuss the opportunity with Paul knowing that should he be interested, the business was well placed to go through a transaction process.

What was particularly attractive to the founder, said Knight, was the fact that Enreach were looking for a UK platform to build on, and so it was a very positive opportunity for the Network Telecom staff.

Paul Maxfield, Network Telecom managing director, said: “I have worked with Paul Billingham at Knight for a number of years and his advice has been invaluable.

“Whilst I was not expecting to sell the company at this stage, the opportunity from Enreach was too good to turn down.”

Paul Billingham, Knight director, said: “It has been fantastic working with Paul and the team at Network Telecom, who, despite being relatively low profile in the industry, is one of the great success stories in the sector.

“It is satisfying to see the hard work over many years rewarded and we look forward to seeing the business develop further as part of the Enreach Group.”

Paul Billingham led the transaction and was supported by Tom Jones, Dom Lillie and Nick Townley-Wells.

Earlier in September, Knight advised communications software provider Invosys on its £6.3m funding package from Santander UK as part of its ambitious growth plans.

Invosys is a wholesale provider of its own cloud communications software and platform, dedicated to providing telecoms solutions to business customers.

Founded in 2006, in Manchester by Rob Booth and Peter Crooks, originally the UK’s first specialist web-based portal for inbound call management aimed at SMEs, Invosys has more recently evolved to become a broader communications technology provider.

Knight has known Rob and Peter for a number of years, having advised the shareholders of Juniper Bridge on their trade sale to Invosys in 2018.

The firm was able to leverage knowledge of the telecoms market and extensive funder network to obtain a number of different funding options for the business, ultimately settling on Santander as the preferred party.

Rob Booth, Invosys chief executive, said: “Knight were a great help in the process, leveraging their industry knowledge and debt funding expertise to ensure that the process ran as smoothly as possible.

“Their unparalleled knowledge of the ICT sector allowed them to clearly articulate Invosys’ market positioning and product proposition, which was absolutely key in driving competition in the process. They liaised with key stakeholders to ensure an efficient process both pre- and post-transaction.”

Tom Jones, Knight associate director, said: “We are delighted to have secured a substantial funding package that will help the business achieve its ambitious growth plans.

“Invosys’ Number Manager product is highly-regarded in the channel and the business has lots of interesting opportunities in the pipeline.”

Founded in 2008, Knight works with entrepreneurs to unlock and realise shareholder value in their business. It has completed more than 100 transactions in the technology and telecoms sectors from its Warrington and London offices.

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