Telesis dials into £2.5m RBS funding deal
Bolton-based business communications specialist Telesis has agreed a £2.5m funding deal with the Royal Bank of Scotland’s Corporate Transactions team to support the continued growth as it aims to hit a turnover of £10m by 2019.
The funding is supporting Telesis with the expansion of their network and sees it adding a further customer base to it network services.
It will expand the current services to more than 4,000 end users and will contribute to a 20% increase in revenues for Telesis in the next 12 months.
Since it was established in 2009, Telesis has reported impressive results, achieving organic and acquisition growth year on year with further expansion planned.
Telesis supplies firms across the North West with bespoke communication packages covering all requirements, including phone systems, calls and lines, mobile services, and broadband.
Telesis currently employs more than 50 members of staff and has a current turnover of £5m.
Director Christian Bleakley said: “Our business strategy is focused on expanding through organic growth and acquisitions and the funding from the Royal Bank of Scotland has enabled us to expand our network service reach and increase our customer base.
“We are on plan to reach our target turnover of £10m by 2019 and hope to increase this further after strengthening our offering.
“Once again John Copping and Anthony McGreevy have worked together to tailor a funding package to support our growth ambitions. Our close working relationship and their understanding of the business has undoubtedly helped the smooth completion of this deal.”
John Copping, regional head of the North and Scotland, Royal Bank of Scotland Corporate Transactions Team added: “Telesis has grown significantly since inception and this recent funding package has helped it to increase its network service levels and will undoubtedly contribute positively to future growth.
“It has a strong management team who are focused on delivering results and increasing their client base. I am delighted to support Christian and his team.”
Due diligence was undertaken by FRP Advisory.
