Mon, 25 Oct 2021 | BUSINESS SALE
Glasgow-based telecoms network infrastructure provider Mono Consultants has been acquired out of administration by Solutions 30 UK Services. The business fell into administration after a period of poor trading was compounded by the onset of the COVID-19 pandemic.
Mono Consultants was founded in 1997 and was among the UK’s leading providers of network infrastructure roll-out services providers to the telecoms industry. Its managed end-to-end services were provided to customers in the service provider, operator, vendor, fixed, mobile, joint network sharing and asset management markets.
After enduring a period of poor trading, the company had engaged a new management team to revive its fortunes. In its results for the year ending August 31 2020, Mono reported turnover of £41.5 million and post-tax profit of £604,767. This was up from a £1.1 million post-tax loss on revenue of £38.6 million a year earlier.
However, this turnaround was disrupted by the onset of the COVID-19 pandemic, which forced the temporary closure of all sites. The company was unable to meet the operational and financial challenges of the pandemic and, while activity in the sector increased as lockdown was eased, it required funding to meet its working capital needs.
Administrators from Interpath Advisory were appointed to undertake an accelerated sale and fundraising process. The business and certain of its assets have now been sold to Solutions 30 UK Services, the UK business of Solutions 30 SE. The buying firm provides last-mile solutions for clients in the telecoms, security, IT, energy and retail sectors.
The acquisition includes Mono Consultants’ key management, assets, rights and interest to contracts, as well as all 165 of the company’s staff.
Interpath CEO and joint administrator Blair Nimmo said: “Despite the turnaround that was in progress, this is unfortunately another company that has been adversely impacted as a result of COVID-19 exacerbating its funding challenges. We are pleased to see the business continue and wish Solutions 30 UK Services Limited and the workforce every success going forward.”
View the latest distressed UK businesses here.
The company is focused on the delivery of IT- enabled (majoring in SAP) business change consultancy services, taking an innovative, technology-driven approach to projects and utilising industry-leading tools to drive sustainable changes at all levels...
RELOCATABLE
Turnover of £1.7m, with an adjusted EBITDA of £445k. Management turnover of £2.28m, with an adjusted EBITDA of £686k. The company specialises in the supply of a wide range of car audio parts, such as amplifiers, speakers, dashcams and subwoofers, and...
LEASEHOLD
Provides a wide range of IT business solutions such as software, hardware, cloud storage and consultancy services. The business works closely with its clients to provide bespoke hardware and software.
LEASEHOLD
|
27
|
|
Sep
|
Yorkshire countryside hotel on the market after entering administration | COMMERCIAL PROPERTY
A Yorkshire country house hotel has been put up for sale aft...
|
26
|
|
Sep
|
£1m-turnover Derry garden centre on the market for £1.25m | BUSINESS SALE
A £1 million-turnover garden centre in Derry has been ...
|
23
|
|
Sep
|
E-commerce software firm acquired at 11.5x EBITDA | BUSINESS SALE
Grafenia Plc, a listed business that operates a buy-and-buil...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources