Wed, 28 Apr 2021 | BUSINESS SALE
WHP Telecoms has continued its recent acquisition spree with the takeover of ICS Group, an Essex-based firm providing telecom rigging installation and design solutions. The acquisition is WHP’s third in a month, following the takeovers of Redhall Network Solutions and Blue Clarity Design Services.
In total, the deal is WHP's fourth takeover since private equity firm Equistone Partners Europe (Equistone) backed its 2018 management buy-out (MBO). Since the MBO, the company has targeted both organic and acquisitive growth.
ICS provides design and build services to Telefonica in London and the South East, as well as working with other providers across the UK. The firm is based in Braintree, Essex and also maintains a regional Cambridgeshire office.
WHP CEO Rob Potter commented: “ICS is a unique company renowned for its design and build capability, something that WHP has been committed to investing in in recent years.”
“They have an excellent roster of high-profile clients that have clear synergies with our wider portfolio, so we are delighted to be welcoming Alex, Kevin, Matt and the whole team into the group.”
“This transaction closely follows our recent acquisition of Blue Clarity and Redhall Networks and we believe that this further strengthens our client service offering, which will benefit the UK’s communication networks as investment in 5G and fibre gathers pace.”
WHP’s most recent accounts, for the year ending May 31 2020, show post-tax profits of almost £7.5 million from revenue of £80.1 million. This was up from profits of £1.9 million on turnover of £64.4 million in 2019.
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