AdEPT Technology Group has signed an agreement to acquire ETS Communications Holdings and its trading subsidiary ETS Communications in a £2.5m deal.
Based in Wakefield, ETS is a specialist provider of unified communications services.
AdEPT, which provides managed services for IT, connectivity, unified communications solutions and cloud services, said that the acquisition is expected to increase group revenue by approximately 5%.
Founded in 1981, ETS is focused on providing unified communications and connectivity to business customers and has a strong public sector presence, including managing and supporting cloud-based telephony solutions to more than 200 GP surgeries.
For the year ending 31 March, ETS reported turnover of £16.4m, operating profit of £320,000 and pre-tax profit of £310,000.
Ian Fishwick, chief executive of AdEPT, said: “We are delighted to have acquired such a high-quality business with a highly experienced vendor remaining with ETS post-acquisition.
“With AdEPT having an existing specialist Avaya IP Office operation in Northampton, the acquisition of ETS builds on this capability and extends the geographical reach to Yorkshire and Lincolnshire. ETS has a well-developed customer base with long term relationships, which builds upon AdEPT’s existing public sector healthcare presence. The acquisition is expected to be earnings enhancing from completion.”
Camlee acted as lead adviser to ETS Communications, with corporate finance executive Andrew Rath supported by managing director Cameron Varley.
John Barker and associate Mike Williams of Metis Law provided legal advice to the shareholders of ETS Communications, whilst Adept was advised by Cripps LLP.
Read the article here: http://www.thebusinessdesk.com/yorkshire/news/2028824-west-yorkshire-telecoms-services-group-snapped-up-in-2.5m-deal