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.
An opportunity has arisen to acquire an IT network support service provider based in the North of England. With more than a decade of trading history, this business has attained a strong market position as a specialist providing critical network infr...
An opportunity has arisen to purchase a Managed Service Provider (MSP) and IT consultancy based in Southeast England. The company is well-established, with a trading record spanning over 25 years.
An opportunity has arisen to acquire an IT company based in Aberdeenshire. This profitable business has grown consistently since it was established in 1989 to provide a portfolio of key IT support and services to its loyal customer base throughout Sc...
26
|
Jul
|
Tunnelling construction technology company falls into administration | ADMINISTRATION
A tunnelling construction technology company based in Basing...
26
|
Jul
|
Sumer firm RMT completes second deal of the year | MERGER
RMT Accountants & Business Advisors, which is part of the Su...
25
|
Jul
|
Occupational health service provider secures PE backing for acquisitions | BUSINESS NEWS
A Hull-headquartered provider of occupational health service...
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.