Elitetele.com has promoted its Financial Director, Rob Burbidge to Group CFO. Before joining Elite in 2013, Rob worked with Knight Corporate Finance advising IT and telecoms companies on acquisitions, sales and refinances.
Rob has been promoted as part of Elitetele.com’s drive to increase its M&A activity. The group has £20 million to invest in acquisitions and Rob will be spearheading the search for suitable companies, alongside Alex Cliffe, Commercial Director, and Founder and CEO, Matt Newing.
Matt Newing (pictured) says, “As we move into a highly acquisitive phase for the business, we recognised the need to have a dedicated CFO with strong acquisition experience. Rob has helped Elite find and successfully complete 14 acquisitions to date, and he will now lead our internal acquisitions team whose task is to fast-track our M&A activity. As a result we are now seeking a financial director with good telco and acquisitions experience who will report into the Group CFO.”
Elite has acquired 15 companies since 2008, all of which have been funded through internal cashflows and conservative leverage with no outside investors. The group now has revenue in excess of £50m with underlying EBITDA of over £8m, representing growth of 37% and 43% over Elite’s FY16 results. It also has in excess of 165 staff across seven locations and intends to continue to grow by organic and acquisitive means.
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