Tunbridge Wells firm snaps up two more businesses
A fast-growing Tunbridge Wells company has continued its nationwide expansion programme with the acquisition of a further two businesses.
AdEPT Telecom, one of the UK’s leading independent providers of voice and data communications solutions, has bought sister businesses CAT Communications and Progressive Communications in Pewsey, Wiltshire. The move follows AdEPT’s purchase earlier this year of Northampton-based Comms Group UK.
This latest deal is the seventh major transaction law firm Cripps has advised AdEPT on over the past four years and was completed to an extremely tight schedule.
Ian Fishwick, chief executive of AdEPT, said: “We have ambitious plans to grow the business both through acquisition and organic contract wins.
“CAT and Progressive are two well-run businesses that we can easily and efficiently integrate into our existing operations – saving costs and broadening the products and services we can offer to clients.
“It was a deal that needed completing quickly and, as ever, our longstanding legal advisers, Cripps, pulled out all the stops and worked closely with us to make sure it was completed smoothly and on time.”
AdEPT has enjoyed 13 years of successive increased underlying earnings, which were up 34 per cent to £6.15m for the year ending March 2016, compared to 2015. Revenues rose 30.8 per cent to £28.9m compared to £22.1m.
Nigel Stanford, who led Cripps’ multi-disciplinary team of corporate, commercial, dispute resolution and employment lawyers, commented: “AdEPT is an exciting and successful company with clear plans for the future and a highly-motivated management team.
“We have developed a close working relationship over the course of the seven transactions we have advised on. Our experience in the telecoms sector and the legal resources and expertise a firm our size can deploy means we are ideally placed to help AdEPT with its continuing expansion.”