A North East IT and telecoms services company has taken a significant step in consolidating its position as market leader in its field, following a multimillion pound deal managed by Evolution LLP.
The ambitious accountancy practice was chosen by Communicate Technology PLC to facilitate the acquisition of York-based Touchdown Offices Ltd, which it was able to complete in just seven weeks.
Evolution’s Corporate Finance Director Konrad Rutkowski headed up the transaction, which involved working with advisers and lawyers from across the UK. He worked with Communicate Technology PLC to structure a fundraising deal to best fit the business and its investors, using the strong relationship he has with Barclays Bank to ensure the required funds were raised.
Speaking about the seven figure deal, Konrad said: “It’s fantastic for both companies involved to see the acquisition finalised after such a short amount of time.
“In order for this to happen, it was vital that what we presented to Barclays and to the client was precisely what they needed to enable a swift decision on the funding to be made. This meant the quality of information we delivered had to be flawless and any potential issues identified well in advance.
“I am really pleased with the successful outcome for the Communicate management team, who have invested a lot of time in firstly growing their market presence and now concluding this acquisition.”
Communicate Technology PLC offers IT managed services to business parks including telecommunications, IT, supply and rent of equipment. It currently operates in three locations in the UK being Wynyard Park, Discovery Park in Kent and Colworth Park located on the Oxford to Cambridge arc.
Communicate’s MD Tony Snaith said “Initially we contracted with Evolution to conduct our audit, however they became aware of our acquisition target and offered their assistance.
“We quickly acknowledged that Konrad was the ideal person to lead on this and we concluded the deal in record time. We will definitely use Evolution on our future targets and already have the next one identified.”
Prior to its involvement in this acquisition, 2016 had already been an extremely exciting year for Wynyard-based Evolution LLP.
The visionary firm opened a Newcastle office at the turn of the year and added to its team following this expansion.
For more information on the influential practice, which provides business accounting, auditing, taxation and corporate finance services, please visit: http://www.evolutionllp.com/
Twitter – @evolutionllp