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.
This is an excellent opportunity to acquire a managed service provider/IT support solutions business servicing a broad range of B2B clients with exponential growth opportunities.
Project Garnell is a digital integration specialist working within the public and private sectors throughout the UK. The company’s bespoke consultancy and innovative system ensure the cost-effective realisation of digital integration projects across...
This UK-based analytics firm focused on the global video game industry specialises in commercial campaign and consumer analytics leveraging its proprietary data platforms to provide comprehensive insights for game publishers and developers. The compa...
11
|
Dec
|
RSK Group buys consultancy peer Kendall Kingscott | BUSINESS SALE
Construction consultancy Kendall Kingscott which dates back ...
10
|
Dec
|
Danish software group Omnidocs enters UK with M&A deal | BUSINESS SALE
Danish software firm Omnidocs has expanded into the UK with ...
10
|
Dec
|
100-year-old pharmacies bought out of administration | BUSINESS SALE
Two pharmacies in Derbyshire with a century of history betwe...
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
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.