Henley: HMT advises SpiriTel on new acquisition
HMT Corporate Finance, led by partner Simon Jordan and manager Stephen Penpraze, advised SpiriTel, a leading business communications service provider group, on the acquisition of Housing Communications.
Based in Shrewsbury, Shropshire, HCL is a well established provider of mobile voice and data services with a focus on the specialist UK Housing Association sector. HCL has over 17,000 mobile connections and an exclusive contract with the largest procurement agency targeting Housing Associations. HCL’s recently commenced IPC telephony systems sales and networking solutions provide significant cross selling opportunities within Spiritel’s fully integrated communications offering.
Along with SpiriTel’s recent acquisition of Mobotel Management, a specialist reseller of BlackBerry services, HCL provides a solid expansion of SpiriTel’s Mobile business.
Commenting on the acquisition, Alastair Mills, chief executive of SpiriTel said: “HCL fits well with our acquisition strategy, as a large, well established mobile base with high potential for cross selling, particularly to its large Housing Association customers. SpiriTel is now one of the largest independent mobile providers to UK businesses.”
Commenting on the acquisition, Ronnie Smith, chief financial officer of SpiriTel, said: “I give my thanks to HMT for their support and advice on another acquisition. HMT’s knowledge of our sector is a real asset in producing a focused, relevant and readable report. This is the 9th transaction that we have completed with HMT’s help and we look forward to many more”
Simon Jordan commented: “Once again we were thrilled to work with SpiriTel on the acquisition of HCL, which considerably strengthens its Mobile business. There are exciting cross selling opportunities and growth potential from which SpiriTel can continue its success.”
