AdEPT acquires local company in continued growth strategy
Cripps has advised local telecoms business AdEPT Telecom PLC on its £12 million acquisition of the Orpington based company, Atomwide.
AdEPT Telecom, which is located in Tunbridge Wells, is one of the UK’s leading independent providers of managed services for IT, unified communications, voice and data connectivity and provides services to both the private and public sector.
The acquisition of Atomwide is in line with the company’s ambitious growth strategy. It is the company’s fifth acquisition in the last two years and the eighth major transaction Cripps has advised on since 2013.
Partner, Nigel Stanford, who led the multidisciplinary team at Cripps involving eight other lawyers said: “This was a complex deal due to the shareholding structure of the target and the deal financing aspects which involved a number of different funding providers. We were also working to a very tight schedule.”
Ian Fishwick, Chief Executive of AdEPT, said: “Over the last two years we have completely transformed AdEPT from its origins as a telecoms company providing calls and lines to a managed services business providing complex solutions involving IT and telecoms. We have achieved this by completing five acquisitions. It has been hugely beneficial to work with the same team at Cripps on all of them. We work together as a very effective team as they understand what’s important to us.”
This deal is the latest of a number in the advertising and media sector for Cripps.