Team Telecom Group (TTG), the Derby-headquartered communications organisation behind Affini and Simoco Wireless Solutions, has concluded a Management Buy-Out (MBO).
The Group was already partially owned by the existing management team, who have now bought the remaining stake.
TTG operate on a global scale, for national governments and major transportation organisations to deliver mission-critical communications products and services. The group operates across multiple sectors, including emergency services, utilities providers, public service operators and airports.
The buy-out team comprises Chairman Peter Burridge, Group CEO Mike Norfield, Chief Commercial Officer Phil Williams, Executive Director Ian Carr, and Executive Director Andy Woodhall.
A deal team led by Darren Hodson from Smith Cooper Corporate Finance (SCCF) was appointed by the management team to structure and manage the transaction.
In light of the transaction, Chairman Peter Burridge says: “We’re delighted to have completed the transaction and pay testament to the professionalism and tenacity conveyed by Darren and his team throughout, who ensured the smooth transition of ownership. We are committed to growing the business further and cementing our position within the industries we serve.”
Darren says: “The business has been decisively managed by the existing management team, becoming one of the UK’s leading designer, supplier and operator of critical communication infrastructure. This was a fantastic opportunity for the Management team to conduct a complete buy-out, and secure complete ownership.”
Darren adds: “The team’s extensive domain knowledge will no doubt ensure TTG continue to lead the way in the communications sector but will also provide them with the opportunity to tap in to new and emerging markets as the global communications market develops. I wish the team the very best.”
Legal advice was provided by Mills and Reeve.