Commenting on what the acquisition will mean for his business, Tom Smith managing director of Nessco Ltd, told Comms Business Magazine, "The acquisition of Invsat Ltd gives us the opportunity to take our business to a new level. NesscoInvsat Telecommunications will move into the top echelon of global suppliers in communication services. It significantly enhances our capability and resources to undertake substantial projects on a global basis. Invsat Ltd is a remarkably good fit with our operations. Their products, services and expertise are, in many areas, complementary to our existing business, plus their geographical strengths add to our international coverage.
Kevin Binnie, Associate Director with KPMG Corporate Finance commented: “KPMG Corporate Finance was delighted to advise Nessco in its acquisition of Invsat Ltd, which represents a significant step change for Nessco enhancing both its service offering and also extending its international coverage.”
Bank of Scotland Corporate, a part of HBOS plc provided the debt-funding package to assist in the Acquisition of Invsat Ltd. Euan Tait, associate director at Bank of Scotland says: "We are delighted to have secured the banking mandate for this transaction which enables us to further develop our existing relationship with Nessco. The acquisition provides an excellent platform for management to expand its operations on a global basis and Bank of Scotland very much looks forward to supporting the enlarged group going forward.”
Nessco Ltd, headquartered in Aberdeen, has two divisions: Nessco Integrated Network Solutions (INS) specialises in the supply and installation of voice and data network solutions to end users in Scotland and indirectly via an elite group of resellers in England. The other division, Nessco Telecommunications, provides telecommunication services exclusively to the oil and gas industry.
Austin Davidson, head of Nessco’s INS division adds, “This is great news for Nessco INS as it will allow us to enhance our level of support and service as a Distributor in England and as a Solution Provider in Scotland. It also gives us the opportunity to reduce costs through economies of scale and thereby to maintain our competitive pricing structure”.
Invsat Ltd is based at Westhill in Aberdeen. It provides telecommunications systems to the oil and gas, maritime and corporate markets and operates its own satellite earth station. It has a particular strength in the Brazilian offshore market.