HMT Corporate Finance, led by partner Bruce Morrison, were delighted to advise SpiriTel, a leading business communications service provider group, on the acquisition of ADK Communications Ltd.
ADK 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 around 300 corporate customers in the UK.
The acquisition, SpiriTel’s eighth in three years and second in November 2009, is in line with SpiriTel’s growth strategy, and provides solid expansion in the Business Division, with the added benefit of offering the opportunity to cross sell existing products into the ADK client base.
Commenting on the acquisition, Alastair Mills, Chief Executive of SpiriTel said:
“The acquisition of ADK is another exciting step in our acquisition-led growth strategy. HMT's commercial approach and commitment to transaction completions ensured that issues were promptly overcome and their contribution has helped to facilitate SpiriTel's rapid growth in recent years.
The large number of acquisitions on which we have now worked together is testament to the technical abilities of the team and the excellent relationship that has been maintained throughout.”