Deal type
Sector
Acquisition of tdotcom
HMT Corporate Finance, led by partner Bruce Morrison and director Simon Jordan, acted as reporting accountants on Spiritel’s acquisition of tdotcom.
tdotcom is an award winning supplier of voice and data systems and solutions to business customers across the UK.
The acquisition is in line with Spiritel’s stated growth strategy of both organic growth and growth by acquisition, and follows the recent acquisitions of CallPlan, Networks Direct and Ashland. Tdotcom compliments the existing business.
Commenting on the acquisition, Alastair Mills, Chief Executive of Spiritel said: "Incorporating tdotcom, a Mitel partner, strengthens Spiritel’s strategic relationship with Mitel and is a great opportunity to quickly add additional customers and profits to our Business division. The transaction builds on our recent success through the acquisition of complementary businesses which deliver scale and organic growth opportunities from cross selling. It is typical of the type of transactions that we are pursuing where the acquired companies will quickly make a positive contribution to earnings”.
Bruce Morrison commented, “We were delighted to act for Spiritel on this its fourth acquisition. We believe that the acquisition of tdotcom, which has a strong reputation and solid client base, provides Spiritel with an exciting opportunity to continue its success”