Second recent acquisition, supported by Harlequin, sees Edge significantly increase turnover and capabilities
Henley on Thames, 2nd February 2010: Edge Telecom (www.edgetelecom.co.uk), the UK national telecommunication service provider, has recently completed two successful acquisitions – that will see it improve its offering and increase its turnover – thanks to the acquisition support provided by Harlequin Corporate Finance (www.harlequincf.co.uk).
Edge Telecom, which is the brand name for the GCI Telecom Group, has recently bought telecoms service provider Invomo for an undisclosed fee, after completing the purchase of IP Infrastructures (IPI) late last year. Both Invomo and IPI were identified by Harlequin Corporate Finance as part of its search for strategic acquisitions for Edge Telecom. The deals have seen Edge Telecom add increased capability to its portfolio and grow to become a group with £40 million of annual revenues and 140 staff.
“With the support of Harlequin, we’ve completed an acquisition that will add an important arm to GCI Telecom’s offering. The acquisition of Invomo will add inbound telephony services, infrastructure, resources and customers; resulting in a comprehensive value-added telecoms services portfolio for UK companies,” said Don McQueen, Group CEO of Edge Telecom.
“We’ve been delighted with the support Harlequin has provided to help us make these acquisitions. Harlequin’s specialist knowledge of the telecoms sector and the experience it has in making this kind of deal proved to be an invaluable asset,” McQueen continued.
Harlequin was able to help Edge Telecom with its specialist Search & Selection of Acquisitions which helps companies to develop the acquisition strategy, establish the key criteria for the targets and search on a headhunter basis, not limiting the search to those businesses that are actively “For Sale”. Once the suitable target has been evaluated, Harlequin can also help negotiating, structuring and closing the deal.
Working for companies that are looking to grow through acquisition, Harlequin works in a similar way to that of an executive recruitment consultant. Instead of waiting for companies to be formally put up for sale, Harlequin targets all those that are a suitable fit, to take advantage of the natural curiosity of entrepreneurs, and to find the best solution – and value – for the acquirer.
“What is important with an acquisition is that you find the best possible fit for your organisation. The acquisition should form part of a designated strategy for growth and as such needs to be well researched and carefully selected,” said Ian Freeman, the Managing Director of Harlequin. “As Edge has done, the best acquisitions are those which not only increase your profits, but importantly increase your capability to deliver a broader range of high quality services to your customers, so you can provide long-term growth in shareholder value.”
“To find the right acquisition target can take time. So while Edge was focussed on managing its existing business, we were able to devote time to pursue exactly the right acquisition for them,” continued Freeman.
To make the best choice when it comes to an acquisition – making sure that the acquisition matches your strategic goals, has a culture that corresponds to yours and, of course, is available at the best price – it is important to explore all potential acquisition options and then dedicate time to select those that are best suited. Which is why companies such as Edge Telecom use the specialist services of Harlequin Corporate Finance.
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Harlequin is a Corporate Finance Consultancy based in Henley-on-Thames, UK. It was established in 1999 and as an organisation has significant experience working for quoted companies such as SpiriTel plc and private companies like Mediaburst. Prior to setting up Harlequin, MD Ian Freeman worked for multinational corporations including Black & Decker and Vodafone as well as in a VC backed MBO, Sterry Group.
Harlequin delivers a variety of corporate finance services to a diverse and expanding customer base. Harlequin Corporate Finance is dedicated to searching, securing and unlocking value for entrepreneurs.