PE-backed telecoms firm acquires project management company Sitec
Bromsgrove-based Sitec Infrastructure Services Ltd (Sitec) has been acquired by a private equity backed wireless telecommunications services business in a deal that creates a group with 500 employees and more than £100m turnover.
Leeds-based WHP Telecoms has completed a deal for Sitec Infrastructure Services Ltd (Sitec), its first acquisition since its management buyout backed by Equistone Partners Europe in 2018.
Sitec specialises in network design, rollout, upgrade, and management to the mobile telecommunications industry. It also has an expanding presence in the wayleave, design (planning) and installation of fixed line fibre optic networks. It has operations in Bromsgrove, Aberdeen, Cambridge and Camberley.
The deal has created a group with a turnover of more than £100m and 500 employees working across the full network lifecycle. It will also provide the platform for WHP Telecoms to enter the fibre market.
Rob Potter, chief executive of WHP, said: “Sitec is an excellent fit for WHP Telecoms, both in terms of our culture and the skillset that the team will bring to the company.
“The acquisition is consistent with our appetite to lead consolidation in the sector and continue to strengthen our services and breadth of offering.”
Adam Eatock and David Hawthorne, directors at Sitec, added: “This deal represents a major milestone in Sitec’s development; WHP is an excellent home for our business.
“We are looking forward to working closely with our new colleagues to explore new opportunities and continue to deliver outstanding outcomes for our customers.”
Andi Tomkinson and Sebastien Leusch, at Equistone Partners Europe, said: “An important part of our investment strategy for WHP Telecoms is to build on its market leader status, boosting the scale and breadth of its services through organic growth and strategic acquisitions.
“The acquisition of Sitec Infrastructure Services fits with that seamlessly, presenting an exciting new opportunity to add to WHP’s customer base and geographical reach, as well as providing entry into new markets.”
Sitec was advised by JDC Corporate Finance and Mills & Reeve.