Elite adds £4m to turnover with Derby deal
LANCASHIRE-based Elitetele.com has completed its second deal of the year, acquiring 21C Telecom, a £4m turnover Derby-based company.
The Chorley company did not disclose terms of the deal, but said it had been funded through its £11.5m facilities provided by Lloyds Bank.
21C has 13 staff and around 1,000 customers. Elite said the deal would enhance its mobile product mix and bring “additional expertise in the convergence of mobile and next-generation communications solutions”.
Richard Hunt, Managing Director of 21C Telecom, commented: “I’m delighted to be joining Elite, 21C has grown consistently every year and key to that success has been the high levels of service our customers enjoy. This deal widens our own product portfolio and gives us access to a larger client base to replicate our past success.”
Matt Newing, founder and chief executive f Elite, said: “Richard and his team’s continued involvement within the group is great news, they bring additional skills, energy and drive to succeed.
“This now places Elite’s annualised revenue in excess of £30mn with the group’s headcount exceeding 80 staff across three UK locations and an office in Madrid.”
Gareth McIntegart from DLA Piper’s Liverpool office advised Elite on the deal and 21C was advised by Paul Billingham at Knight Corporate Finance and Murray Macnab at Ellis-Fermor & Negus.
Dave Bowen, Elite’s relationship director at Lloyds was advised from David Clift at CLB Coopers and Ian Riggs and Patrick Keown at the Manchester office of law firm Hill Dickinson.
