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Business

AdEPT Technology Group in £2.5m takeover of Wakefield-based ETS Communications

By: Chris Britcher cbritcher@thekmgroup.co.uk

Published: 08:58, 09 November 2018

Updated: 08:59, 09 November 2018

An IT specialist based in the county has agreed a multi-million pound takeover of a Yorkshire communications firm.

AdEPT Technology Group, with offices in Tunbridge Wells and Maidstone, has agreed to buy ETS Communications, based in Wakefield.

ETS is a specialist provider of unified communications services.

AdEPT's headquarters in Tunbridge Wells

The deal will be worth £2.5million, less ETS' net debt. A further £1.75m will be paid upon the trading performance of ETS over the coming 12 months.

AdEPT says it is expects the takeover to increase group revenue by around five per cent.

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Ian Fishwick, chief executive of AdEPT, said: "With AdEPT having an existing specialist Avaya IP Office operation in Northampton, the acquisition of ETS builds on this capability and extends the geographical reach to Yorkshire and Lincolnshire.

Ian Fishwick, managing director of AdEPT was delighted to complete the takeover

"ETS has a well-developed customer base with long term relationships, which builds upon AdEPT's existing public sector healthcare presence. The acquisition is expected to be earnings enhancing from completion."

The board of AdEPT also confirmed it has signed a £5m extension to its existing £30m five-year revolving credit facility agreement, with Barclays and the Royal Bank of Scotland, enlarging the total debt facility to £35m.

Roger Wilson, chairman of AdEPT, added: "This enlarged bank facility provides the company with additional funding to undertake the acquisition of ETS as AdEPT continues with its strategy of acquiring earnings enhancing businesses."

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