Tela Technology Ltd acquires ESP Technologies UK Ltd
20 Sep 2020
Manchester based Camlee Group recently acted as lead financial adviser to ESP Technologies UK Ltd (ESP) on its sale to Tela Technology Ltd (Tela).
With offices across the UK including Scotland and Wales, Tela’s mission is to improve their customer’s business communications by listening to their needs and delivering the right solutions, allowing their customers to perform better than before. Tela’s product offering encompasses a broad range of solutions including mobile, fixed-line, connectivity, unified comms and IT managed services.
ESP specialises in communications consultancy and IT systems, as well as infrastructure cabling, business relocations and wireless solutions. Operating nationally, the business offers a turn-key service from installation through to maintenance, creating bespoke solutions to match the project’s needs. Evidenced by the level of repeat work ESP undertakes for its valued customer base, the company prides itself on providing an exceptional level of service. Ultimately it was an obvious fit for Tela to expand its market reach and build on its impressive reputation.
ESP was a particularly appealing acquisition for Tela based on both business leaders sharing a passion for delivering an exceptional customer experience. The transaction was for 100% of the shareholding owned by Derek Sisson and Sheila Such, though they will continue to play an integral part within Tela the business through its exciting phase of transition and growth. Derek Sisson, CEO of ESP commented, “It became evident to me at an early stage that the partner core values were aligned of both companies to achieve a broader service to all customers. Lee’s assistance in aligning this introduction with Jess guiding the process through in an efficient manner, with Ben and James on legal support, made this a smooth process. I have no hesitation in recommending the Camlee team as a reference point.”
Shez Cheema, CEO of Tela added “Jess and Lee took a collaborative and refreshing approach throughout the entire process ensuring that there was no deal fatigue. Ben and James equally worked on a commercial-agile legal approach to ensure time was spent on the material and important aspects of the transaction keeping costs to a minimum. I would highly recommend the Camlee Group as trusted advisors in any corporate finance and transaction structuring. Their approach is fresh, transparent and consensual.”
Lee Wojtkiw and Jessica Bradbury at the Camlee Group provided corporate finance advice on the transaction. Lee stated “It was evident that while Derek and Sheila wanted a solution that allowed them to facilitate an eventual exit from the Company, securing the legacy of the business and the future of its staff was of key importance. Tela appeared to be a great fit as an acquirer, not just because of the synergies the opportunity presented, but because of the cultural fit between the two companies as well. We wish both ESP and Tela every success in the future.”
Benjamin Dredge and James Lock of CG Professional provided legal advice on the transaction and Angela Hilton of Hull Jady accountants provided financial accounting advice.