Deal puts Leeds company in Elite communications group
Communications group Elite Telecom has snapped up a £16m-turnover Leeds business, Nexus.
The combined group will have turnover of £50m, a 37% increase on Elite’s 2016 results. It will comprise of 165 staff across seven locations and operates from London and Chorley.
Nexus Telecommunications, which employs 35 staff from its Wade Lane offices, is Elite’s 15th acquisition since 2008.
Elite’s Founder and CEO, Matt Newing, said: “We’re delighted with the acquisition of Nexus Telecommunications. Nexus has a great reputation in the industry and is a perfect complement for Elite.
“We share a similar high-service culture, and we believe the combination of our two companies’ unified comms and IT products and services will deliver the strongest client offering in the industry.”
Rob Sims, CEO, Nexus Telecommunications, said: “Nexus’ culture of service excellence, flexibility and customer choice make us a great fit with Elitetele.com. Our customers will benefit from Elite’s wide range of services, including hosted IT services, PCI Compliance, SIP services, phone systems and numbering services, which will complement the Nexus offering, giving our customers even better service. ”
Elite’s internal M&A team and internal legal counsel completed the acquisition. Leveraged finance was provided by the company’s existing lender, Lloyds Banking Group.
Financial due diligence was undertaken by the Manchester office of Mazars LLP, led by Neil Robinson, Jeremy Booth and Hayley Brightmore. Nexus was represented by Hull Solicitors Gosschalks led by corporate partner Paul Plaxton.
