HMT Corporate Finance were delighted to advise SpiriTel, a leading business communications service provider group, on the acquisition of Mobotel Management Limited.
Based in Fulham, Mobotel is a specialist reseller of mobile and data services with over 90% of connections including BlackBerry services. Mobotel has a high quality customer base with an ARPU spend approaching £50 which is significantly higher than the industry average.
The acquisition, SpiriTel’s tenth since 2006 and second in February , is in line with SpiriTel’s ‘acquire, integrate and grow’ strategy, and provides solid expansion of its Mobile business with the additional opportunity to cross sell other SpiriTel services into Mobotel’s client base.
Commenting on the acquisition, Alastair Mills, Chief Executive of SpiriTel said:
“Mobotel is a well established provider of mobile services and solutions. The customer base is particularly attractive in that most connections are BlackBerry and the ARPU is well above the industry average. The acquisition, our tenth since 2006, strengthens our own Mobile line of business which has recently delivered strong organic growth and also provides an excellent cross selling opportunity for our rapidly expanding Business Division."
"Once again HMT provided commercial advice on what was a tricky acquisition and we look forward to working with them again soon."