Elitetele buys Nexus
Owner-operated Elitetele.com PLC, a unified communications specialist is buying Leeds-based communications solutions provider Nexus Telecommunications. The acquisition is Elite's 15th since 2008, all of which have been funded through internal cashflows and conservative leverage with no outside investors. Knight CF advised Nexus Telecommunications on its sale to Elite; read the Knight-sponsored guide to European M&A here.
Post completion, the enlarged Elite will have revenue in excess of £50m with underlying EBITDA of over £8m, representing growth of 37% and 43% over Elite's FY7/16 results. The group will have over 165 staff across seven locations, with Nexus contributing £16m revenue and 35 staff. The deal extends Elite's customer base and geographic presence with the addition of Nexus Telecommunications' Leeds office. Nexus will be rebranded as Elitetele.com.
Rob Sims, CEO, Nexus Telecommunications, who is staying on with the business following the acquisition and joining the group leadership team, says, "Nexus' culture of service excellence, flexibility and customer choice make us a great fit with Elitetele.com. Our customers will benefit from Elite's wide range of services, including hosted IT services, PCI compliance, SIP services, phone systems and numbering services, which will complement the Nexus offering."