Focus Group, the Bowmark Capital backed provider of UK business telecommunication solutions, has acquired Resource Telecom Group.
Based in Glasgow, with an additional office in Edinburgh, Resource Telecom Group was founded by Graeme Edgar in 1997 and provides telecoms, IT and utilities to its SME customer base. The strategic acquisition extends Focus Group’s presence north of the border.
Knight Corporate Finance advised the shareholders of Resource Telecom Group ahead of the sale. This marks the completion of an eighth deal in the past six months for the technology and telecoms industry advisor.
Graeme Edgar, managing director at Resource Telecom Group said, “The team at Knight were fantastic throughout the process, from preparing the business for sale to delivering a number of strong written offers for the business. Knight demonstrated their sector expertise, hit the ground running and negotiated a deal that met our aspirations financially.”
Knight has advised on a broad range of deals across the ICT spectrum during the past six months. This includes the three-way merger of DoubleEdge, Foehn and Metaphor IT to create Kerv, as well as Union Street’s merger with Aurora.
Adam Zoldan (pictured above, left), director at Knight Corporate Finance commented on the flurry of recent deals. He said, “With the exception of the first few weeks of lockdown, buyers, investors and funders have remained as hungry as ever for deals across the channel. The robust nature of ICT sector, generating high levels of recurring revenue has resulted in strong competition and maintained valuations. Six of the eight transactions we delivered over lockdown involved a private equity sponsor, demonstrating the confidence in the channel from the investment community where we are seeing strong cash generation and growth prospects result in ICT assets being highly sought after.”
Paul Billingham (pictured above, right), director at Knight Corporate Finance added, “With over 120 transactions now under our belt, we continue to work with entrepreneurs in the tech and telecoms sector to help them achieve their ambitions for their business. The ICT channel deserve huge praise for their dynamism and flexibility in keeping the UK open for business.”
Below: overview of recent deals handled by Knight Corporate Finance.