Commsworld has sold its M&E business, Commsworld Technical Services Ltd, to Cable Com Electrical Ltd for a substantial six figure sum. From Thursday 8th of October 2009 Commsworld Technical Services Ltd (CTS) will be wholly owned by Cable Com Electrical Ltd. Alex Ramage, Director of CTS, will continue to head up the organisation within Cable Com Electrical Ltd.
In the move Commsworld CEO, Ricky Nicol, and his management team will release the capital needed to pursue their ambitious growth strategy and double turnover over the next three years
Although Commsworld will continue to engage CTS for cabling related business, a new management team and ownership is expected to deliver significant growth for the cabling business going forward.
Ricky Nicol said: “Commsworld is Scotland’s leading independent VoIP, Data and Mobility provider this is a strategic move that will allow us to further accelerate the growth of our core and growing business. The capital raised with this transaction will help us achieve our objective of doubling the size of the business over the next three years. We will partner with CableCom going forward for any cabling or electrical related services that our customers may require’’.
Robert Bell, MD Cable Com: ‘’CableCom Electrical is delighted to announce the strategic acquisition of Commsworld Technical Services Ltd. CableCom Electrical has grown to become a leading provider of electrical services to both public and private sectors in Scotland. This acquisition will enhance CableCom’s first class standing in the industry.
Under the Commsworld banner, CTS gained an excellent reputation for customer service across a broad customer base. CTS fits our future business plan and criteria perfectly and, with its excellent management team, we look forward to developing the CTS brand while offering additional core services to our existing customer base.
‘’We now look forward to working together to strengthen our excellent relationship with Commsworld Holdings’’