Adept Telecom has made its third post AIM listing acquisition with the announcement of the purchase of 10,000 business customers from Fizz Telecom. Adept acquired Transglobal Limited in February 2006, and Admiral Managed Networks Limited in March 2006. Fizz is a telecoms voice reseller established in 2004.
The company says that the 10,000 customers acquired from Fizz are a natural fit with Adept Telecom as they are all fixed-line telecom small business customers spending on average £32 per month. The management accounts of Fizz to March 2006 demonstrate that the business generated pre-tax profit margins of approximately 4.8%.
Over the last three years, Adept Telecom has completed 13 acquisitions and rapidly integrated the acquired businesses, usually within 6 weeks following completion.
Commenting on the acquisition, Roger Wilson, Chairman of Adept Telecom said: “The Fizz customer base is of very high quality with 100% of customers taking both line rental and calls, many are on five year contracts, with 95% paying by Direct Debit. They therefore make an excellent fit with our existing customer base and business model.
The fact that we can acquire and integrate three businesses in such rapid succession reflects well on Adept’s processes and management capabilities.”