Cripps supports AdEPT in further acquisition10 February, 2017
An expanding Tunbridge Wells company has completed its third acquisition in three months with the ongoing support of local law firm Cripps.
AdEPT Telecom, one of the UK’s leading independent providers of voice and data communications solutions, has bought Our IT Department, which has offices in London, Cambridgeshire and Newcastle.
Cripps also helped the company secure a £30m five-year revolving funding facility with Barclays and the Royal Bank of Scotland.
This latest acquisition is the eighth major transaction law firm Cripps has advised AdEPT on over the past four years and follows the purchase of sister businesses CAT Communications and Progressive Communications of Pewsey, Wiltshire, in November.
Ian Fishwick, chief executive of AdEPT, said: “Once again Cripps has responded swiftly and professionally, helping to bring a complex project to a successful conclusion, and more than punching their weight with London-based bankers and professional advisers. The advice their lawyers provide is timely, practical and of great value to us.”
Nigel Stanford, John Kirkwood and Julie Hughes led Cripps’ multi-disciplinary teams of corporate, finance, commercial, employment and real estate lawyers on the two deals, which had a strict completion deadline.
“AdEPT is a fast-growing company which identifies targets and completes deals at a demanding pace,” said Nigel Stanford. “Synchronising the strategically important acquisition along with the highly complex banking documentation has been challenging and rewarding in equal measure for our team and the directors at AdEPT. Once again we’ve guided a client through a complex process to achieve the desired outcome.”