Chess makes a move for Avenir

ACQUISITIVE telecoms firm Chess has acquired phone distributor Avenir.

The value of the deal was not disclosed but the Alderley Edge firm said it would add revenues of £22m and earnings, before interest, tax, depreciation and amortisation of £1.6m.

Hertfordshire-based Avenir has 55 employees who will continue to work from their office in Hertfordshire. It has been sold by the French parent Avenir Telecom.  

Richard Btesh, director of Chess, said: “Over the years we have often been approached by sellers of mobile customer bases, but this is the first opportunity we’ve had to acquire a solid market leader that gives Chess a real opportunity for partner and mobile growth.

“Being a great place to be a customer is the key to our success, this acquisition strengthens our proposition with such a strong synergy between our core values and culture.”

Andy Tow will head the newly formed Chess Partner Services division as managing director.

Last year Chess agreed a three-year, £10m funding line with Barclays to finance acquistions.