Equistone: WHP Telecoms enters the fibre market with the acquisition of Sitec Infrastructure Services Ltd

Equistone: WHP Telecoms enters the fibre market with the acquisition of Sitec Infrastructure Services Ltd

Equistone: WHP Telecoms enters the fibre market with the acquisition of Sitec Infrastructure Services Ltd

(PRESS RELEASE) LONDON, 9-Dec-2019 — /EuropaWire/ — WHP Telecoms, private equity backed by Equistone, announced it is about to complete the acquisition of Sitec Infrastructure Services Ltd (Sitec). With the deal the wireless telecommunications services provider WHP Telecoms will further strengthen its market position and broaden its service capabilities.

Sitec, based in Cambridgeshire, United Kingdom, is active in the telecommunication, survey and engineering sectors offering end-to-end solutions for the UK’s mobile and fixed line network operators. More particularly, the company is focused on network design, rollout, upgrade, and management offering its services to the mobile telecommunications industry. Furthermore, Sitec is also expanding its expertise to cover the wayleave, design (planning) and installation of fixed line fibre optic networks.

The deal sees two sector leading companies with strong operational and cultural complementarities joining forces into a group with a turnover in excess of £100 million and 500 employees working across the full network lifecycle. WHP Telecoms will also enter the fast growing and dynamic fibre market through the acquisition of the Sitec .

Equistone Partners Europe supported the management buyout of WHP Telecoms last year (2018) and the current deal represents the company’s first acquisition moving forward with its strategic growth plan.

Commenting on the Sitec acquisition, Andi Tomkinson and Sebastien Leusch at Equistone Partners Europe, said:

“An important part of our investment strategy for WHP Telecoms is to build on its market leader status, boosting the scale and breadth of its services through organic growth and strategic acquisitions. The acquisition of Sitec Infrastructure Services fits with that seamlessly, presenting an exciting new opportunity to add to WHP’s customer base and geographical reach, as well as providing entry into new markets.”

Commenting on the synergy, Rob Potter, CEO of WHP said:

“Sitec is an excellent fit for WHP Telecoms, both in terms of our culture and the skillset that the team will bring to the company.  The acquisition is consistent with our appetite to lead consolidation in the sector and continue to strengthen our services and breadth of offering.”

Sitec directors Adam Eatock and David Hawthorne commented further:

“This deal represents a major milestone in Sitec’s development; WHP is an excellent home for our business.  We are looking forward to working closely with our new colleagues to explore new opportunities and continue to deliver outstanding outcomes for our customers.”

WHP was supported on corporate finance and debt advisory services during the transaction by Michael Loudon and Tom Barnwell at Clearwater International while legal advice was provided by Jemma Clarke and Ben Collins at Addleshaw Goddard. Chris Heatlie at BDO carried out the financial due diligence. JDC Corporate Finance and Mills & Reeve advised Sitec on the acquisition deal.

Media contacts:

Hawthorn Advisors
James Davey / Zinka MacHale
Tel: +44 (0)20 3745 4960

SOURCE: Equistone


Follow EuropaWire on Google News

Comments are closed.