HMT Corporate Finance, led by partner Bruce Morrison, were delighted to act as reporting accountants on Spiritel's acquisition of ED Communications Limited ("EDC"), a network services reseller.
EDC has been established for a number of years and sells voice and data services (inbound and outbound voice, broadband, wholesale line rental and non-geographic numbers) to the corporate market in the UK.
The acquisition, Spiritels sixth in two years, provides EDC's customers with access to Spiritel with its fully integrated suite of voice and data services.
Commenting on the acquisition, Alastair Mills, Chief Executive of Spiritel said:
"The EDC transaction is another exciting step in our acquisition led growth strategy. Following a sustained period of organic and acquisition enhances growth, Spiritel has now attained a level of scale that allows us to bolt on acwuired companies and swiftly deliver the resulting synergy benefits of cost savings and new sales opportunities."
Bruce Morrison commented:
"We were delighted to act again for Spiritel and believe that the acquisition of EDC provides Spiritel with an exciting opportunity to continue its success in a rapidly consolidating sector."