CVC-backed infrastructure giant swoops for Telent
Technology infrastructure giant Telent is set to be acquired by M Group, the CVC-backed infrastructure services provider.
It marks a move into the technology services market for M Group, which provides infrastructure services across water, energy, rail & aviation, highways and telecom to private and public sector organisations.
Warwick-headquartered Telent, which once formed part of industrial titan Marconi, had joined PE firm JC Flowers, following a deal involving Pension Insurance Corporation.
On completion of the transaction, M Group said Telent will ensure the business is “even better placed to tackle the challenges of ageing infrastructure” with its “mission critical communications, network infrastructure and end-to-end cyber security services”.
The combined group of around 14,000 staff will deliver solutions across the telecom, transport, water, and energy sectors and expands M Group’s reach into attractive adjacent markets, including the public sector, defence, emergency services and education.
Telent says that joining the M Group will strengthen longstanding relationships with shared customers, including Transport for London (TfL), National Highways, Network Rail, Virgin Media O2, BT, EE and Openreach.
The transaction is subject to regulatory approval.
Jo Gretton, Chief Executive of Telent said: “Joining M Group marks an exciting new chapter for Telent, reinforcing our leading position in network and technology solutions.
“Telent is a business with a long trading heritage and an excellent reputation. With M Group’s extensive infrastructure expertise and scale, we are well placed to accelerate our growth and continue to be a trusted partner for organisations at the forefront of the digital revolution.”
Andrew Findlay, Chief Executive of M Group added: “This is a hugely transformative deal for M Group and I am delighted Telent is joining us.
“We recognise the strength of Telent’s differentiated capabilities, market position and talented people that make it a great business. With the acquisition of Telent, M Group will be even better placed to deliver essential infrastructure services for life.”
“Our ambitious growth strategy reflects a combination of organic and inorganic growth and this acquisition builds on our strong track record of strategic M&A. It will enable us to deliver even greater value and expertise to our clients and so help the people, communities and economies of the UK and Ireland adapt to a changing world.”
