Elitetele.com acquires Support Span and now targets an IT firm
This marks the dealer’s 16th acquisition since 2008
Dealers
January 19, 2018
The Elitetele.com group has £20 million to spend on its merger and acquisition strategy
Elitetele.com has bolstered its merger and acquisition strategy with the formation of an internal acquisitions team.
The mergers and acquisition team will be headed by group chief financial officer Rob Burbidge and commercial director Alex Cliffe.
In addition to the acquisition team, Elitetele.com has formed a business and operational integration team to ensure long-term success of acquisition for all parties.
Elitetele.com reported it has £20 million to spend on future acquisitions and mergers.
The firm has acquired 15 companies since 2008, all funded through internal cashflows and conservative leverage with no outside investors.
The group now has revenue in excess of £50m with underlying EBITDA of over £8m, representing growth of 37pc and 43pc over its 2016 financial result. The group also has in excess of 165 staff across seven locations and intends to continue to grow by organic and acquisitive means.
Continue growth
Elitetele.com founder and CEO Matthew Newing (pictured) said: “Our aim is to continue grow our business through both organic and acquisitive means. We’ve created a dedicated team within Elite to ensure we have specifically focussed people working on our merger and acquisition activity. They are then supported by a comprehensive integrations team to ensure we can respond to potential deals quickly.
“With the combined experience of the team, we are able to take a slightly different, and in my opinion better, approach to M&A activity”.
Mobile News has reached out for further information.