Elite completes deals hat-trick

BUSINESS telecoms provider Elite Telecom has completed its third acquisition in as many months, paying a six-figure sum for Tariff Reduction Services.

Chorley-based Elite said the deal will see its turnover increase by £1.4 million and add more than 420 new customers to its books.

TSR, which is based in Shropshire, is a fixed line and mobile phone provider which specialises in cutting operating costs for businesses.

Elite Telecom chief executive, Matt Newing, said: “The acquisition of TSR will allow us to continue our growth plan, build on our existing services and offer an enhanced Elite experience for our customers.”

“We will be working towards our overall growth strategy which is achieved organically and through growth by acquisition.”

The deal follows elite’s acquisition of certain assets of Cardiff-based XL Networks in July and London-based Liquid Business Services in September.

In the year to July 31, 2010, Elite Telecom made a £1.5m pre-tax profit on sales of £17.4m.

Elite was represented by law firm DWF.