One Connectivity completes Elite connections purchase
Acquisition sees more than 700 Elite connections move to One Connectivity
Derby-based unified communications company, One Connectivity, has announced £4 million in its 2018 financial year, beating its turnover target of £2.4 million thanks to profits of £240,000.
Despite the company buying Midlands-based business telecoms’ dealer Elite Telecom in March, One Connectivity’s first acquisition buy in its five-year history, its turnover figures were achieved organically.
As part of the acquisition, Elite Telecom owner Cheryl Roberts left the business and director Chris Cowling moved over to One Connectivity. No redundancies were made as part of the buyout and over 700 Elite mobile connections were transferred to One Connectivity as part of the acquisition, taking the dealer’s total connections base to over 14,000.
Staff numbers now stand at 33, with four more positions in sales and account management to be filled as the firm looks for further growth this year.
Prior to the acquisition, One Connectivity moved to a larger 6,000 square foot headquarters in Castle Donington, Derbyshire, in January, which is three times larger than its previous Derbyshire HQ.
One Connectivity managing director Paul Stevenson said: “We’re delighted to have hit our turnover target and to welcome Chris. The acquisition was an obvious move for us to support our growth and it’s a bonus that it feels completely natural to work with Elite Telecom on this.”