Glemstone Telecommunications Ltd has completed its first business acquisition after the company received specialist advice and services from the Technology & Telecoms Group at Vantis, the AIM listed accounting, business and tax advisory firm.
Glemstone Telecommunications Ltd provides communications solutions to enterprises in the south east of England, specialising in converged business voice telecommunication systems and IP data network infrastructure solutions. The company sought to acquire a suitable business to expand its existing customer base, and selected corporate telecoms company Tariff Watch Ltd as the most appropriate candidate.
Glemstone was referred to Vantis by the Royal Bank of Scotland’s New Media Team. The Technology & Telecoms Group advised on the appropriateness of Tariff Watch Ltd and took over running the Glemstone accounts to create and deliver the reports and projections required by the bank. Vantis has continued to manage the accounts since the deal completed in December last year.
Neil Linter, managing director of Glemstone, comments, “The support from Vantis’ Technology & Telecoms Group has been second to none. The Group helped us to ask all of the right questions and has delivered sound advice at every stage of the process, referring us to due diligence advisers at the appropriate time.” Linter continues, “Vantis took over the running of the accounts and helped to put all the systems in place so that the acquisition could go ahead when the timing was right.”
Nick Winters is Head of the Technology & Telecoms Group at Vantis, whose experience and in-depth knowledge of the technology and telecoms sector was key to the swift and successful completion of this acquisition. Linter explains, “Nick has worked with a number of clients similar to ourselves, and we found his confidence and familiarity with the process invaluable. Through Vantis, Nick helped with the number crunching for the three year projections the bank wished to see and also helped us to instruct our solicitors.”
The procurement has been a terrific success, so much so that Linter is already thinking forward to another acquisition next year. Glemstone is on target to meet its forecast of a turnover of £5 million by the end of the year, and the bank is satisfied to the extent that it has agreed in principle to support the company on another similar deal.
Linter concludes, “You can’t be a Jack of all trades so you have to bring in the necessary skill sets to help you develop the business, and Vantis has been very good for us. We would certainly use them again when the right opportunity comes along.”
For further information, or for assistance with acquisitions in the Technology & Telecoms sector, please contact Nick Winters or complete the online form below.