Tue, 27 Apr 2010 | MBO/MBI
Spice, the utility support services business, is on the verge of selling its telecoms operations in a management buyout for £32.8 million.
Private equity firm Gresham has backed a management buyout at Siatel Holdings, which has conditionally agreed to purchase the Team Telecom Group (TTG) division.
The chief executive of TTG, Mike Norfield said: "This is a very exciting time for TTG. We have invested heavily over the past three years to develop market leading businesses and products."
"With Gresham's support we intend to continue this investment and increase our international presence, both organically and by acquisition."
The move is part of Spice's broader aim to reduce its debt and focus on its supply and utilities facing distribution operations.
The deal will include £7.3 million of debt, and other liabilities. Spice has said it will use £25.5 million of the cash generated in the sale to repay bank debts.
Spice has traded in line with its board's expectations since its last trading update in February, according to the company.
Bring to the market this leasehold specialist car sales and servicing facility located in Horncastle, Lincolnshire. The trade was established as a limited company in 2005.
LEASEHOLD
The company is an online vehicle purchasing platform, providing a fast, hassle-free car-selling service for the end user. A competitor to the likes of webuyanycar.com and Motorway, the company is a well-established online vehicle purchasing platform...
Bringing to the market this denim and casual wear retailer, boating a user friendly comprehensive online presence.
|
22
|
|
Nov
|
Construction firm Lyjon calls in administrators | ADMINISTRATION
Cheshire-based contractor Lyjon Group has appointed administ...
|
22
|
|
Nov
|
Historic Yorkshire yarn maker weaves towards employee ownership | BUSINESS SALE
A West Yorkshire yarn manufacturer that dates back to before...
|
22
|
|
Nov
|
Redsquid going national after new funding and acquisition | BUSINESS SALE
IT managed service provider (MSP) Redsquid is going national...
|
22
|
|
Nov
|
Redsquid going national after new funding and acquisition | BUSINESS SALE
IT managed service provider (MSP) Redsquid is going national...
|
22
|
|
Nov
|
Historic Yorkshire yarn maker weaves towards employee ownership | BUSINESS SALE
A West Yorkshire yarn manufacturer that dates back to before...
|
22
|
|
Nov
|
Construction firm Lyjon calls in administrators | ADMINISTRATION
Cheshire-based contractor Lyjon Group has appointed administ...
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.