RSM has advised the shareholders of Comvergent Holdings Limited on their sale to Solutions 30, a company listed on Euronext stock exchange.
Founded in 2005, Chester based Comvergent has developed a range of services dedicated to rolling out and maintaining wireless networks including 5G. Comvergent has been working for over 10 years with major telecom brands including Ericsson, Nokia and Huawei.
This transaction marks the entry of Solutions 30 into the UK market, which has strong developmental potential in the field of fixed and mobile telecommunications. The deal sees founder and Chairman John Roberts exit the business following a period of transitional support.
James Wild, M&A partner at RSM said: ‘We are delighted to have advised John and the management team on this important next step for them and Comvergent. The acquisition of Comvergent provides Solutions 30 a firm footprint in the UK telecommunication infrastructure market and is the ideal platform to maximise the opportunities in this buoyant sector. This was a great result for all parties and further deepens RSM’s M&A track record in the telecoms infrastructure market.’
Since its inception in 2005, Comvergent has developed a range of technological solutions to launch and maintain wireless networks. Based near Chester, Cheshire, the company operates throughout the United Kingdom. The company has recently grown as a result of position itself in key markets for mobile networks, a trend which is expected to intensify with the arrival of 5G.
Paul Garston, Managing Director of Comvergent commented: ‘The strategy we have pursued over the last five years has enabled us to consolidate the operational and commercial foundations of our business. Our integration into the Solutions 30 Group provides us with the financial resources we need to capture the potential of our markets and take full advantage of the growth opportunities available to us. Comvergent will also be able to build on Solutions 30’s track-record in Europe to strengthen its positioning and accelerate its growth.”
This acquisition is fully in line with Solutions 30’s growth strategy, and reflects its ambition to strengthen its European footprint and position itself in fast-growing markets.