Babble Cloud, the comms and IT service provider backed by LDC, has acquired Corporate Management Telecom (CMT).
Essex-based CMT was founded by Firas Bilbeisi and Simon Izod-Nash in 1998. The company provides a range of telecoms and IT services to its SME and corporate customer base.
The transaction has been successfully completed after Knight Corporate Finance advised CMT as part of its Vendor Assist programme. Knight Corporate Finance’s transaction services specialists took CMT through a dry run diligence process. This provided a number of recommendations to implement ahead of starting a formal process and to ensure the business was prepared for a sale.
Knight Corporate Finance then ran a competitive sales process to a select number of parties. After attracting several offers, Babble Cloud emerged as the preferred buyer. Babble Cloud valued CMT’s similar profile of client base and its geographical location.
Firas Bilbeisi, managing director of CMT said, “We engaged Knight initially to prepare ourselves and the business for a potential exit. The results and recommendations gave us confidence that that our price aspirations could be achieved. With Knight’s experience and sector knowledge, we were able to negotiate an agreement that met the expectations of all our shareholders. They professionally managed the process despite lockdown and were always on hand during the engagement.”
Adam Zoldan, director of Knight Corporate Finance added, “With over 120 deals successfully completed, our exit process continues to deliver maximum value for our clients. The process with CMT demonstrated the value that our Vendor Assist product brings to clients in preparing them for a transaction.”
The Knight Corporate Finance team that oversaw the deal comprised Adam Zoldan, James Caplan and Chris Collins.