Knight CF advises on two acquisitions
Channel M&A specialist firm, Knight Corporate Finance continues to play a key role in the consolidation of the telecoms industry as it announces acquisitions by Opal and Daisy. Speaking about Opal’s acquisition of The Airtime Group, Paul Lawton, CEO of Opal said: “Knight introduced TAG to us and, with their understanding of the business, they helped ensure that it was fully integrated into our organisation within a week of completion, which was the key to a successful acquisition.
This experience was brought to bear again when Knight CF assisted Daisy plc in its strategic partnership agreement with Telstra International EMEA, that included the transfer of a number of voice contracts for Telstra International EMEA’s Small and Medium Businesses (SMBs) in the UK, over to Daisy. Matthew Riley, CEO of Daisy said “Knight’s knowledge and experience helped to ensure that the deal completed smoothly and we were ready and prepared to provide a seamless handover to our new partners.” Knight Corporate Finance Director Paul Billingham said “It’s been a busy six months for us since we formed, and the interesting aspect has been the range of transactions that we have been involved in. In the current economic climate there are a number of distressed opportunities, but these have been almost exclusively larger businesses that carry a high corporate overhead. We have found that mid-sized resellers are better managed, are maintaining growth and continue to attract high valuations. “Market consolidation and strategic transactions continue and we look forward to announcing more deals over the course of the year.”