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Thursday 08 November 2018

AdEPT buys ETS for healthcare UC

AdEPT buys ETS for healthcare UCAcquisitive UK unified communications (UC) provider AdEPT Telecom will add to its revenue and Avaya IP Office expertise with the purchase of ETS Communications, a Wakefield company that delivers UC and connectivity services to over 200 GP surgeries.

The £2.5m cash price will be supplemented by an additional £1.75m depending on FY19 performance, with ETS’ FY18 turnover yielding £3.16m and a £310k pre-tax profit.

AdEPT is acutely focussed on expansion through acquisition, with ETS just the latest in a string of purchases which have included Comms Group, Cat Communications, Progressive Communications, Our IT Department and more recently Shift F7.

Those additions boosted AdEPT’s turnover 35% yoy to £46.5m in FY18 (managed services accounted for 70% of the total), and the ETS deal is expected to improve its run rate by a further 5%. Having paid an initial £5m for Shift F7 in August (with a further £2.9m due depending on performance), we think AdEPT’s turnover should comfortably exceed £50m in FY19.

The expansion of its UK customer base, particularly in the public sector, and closer integration of its communications, network and IT support businesses into a single managed service proposition should leave the company better placed than ever to grow organically. But having also signed a £5m extension to its existing £30m 5-year debt facility with Barclays and RBS, we are pretty sure more AdEPT acquisitions are in the pipeline.

Posted by Martin Courtney at '09:27' - Tagged: acquisition   unifiedcommunications   AdEPT   ETSCommunications  

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