Date of issue: 13th May 2008

CLEMENT KEYS MANAGES TELECOMS COMPANY SALE

Chartered accountants Clement Keys has brokered the sale of a Hall Green based telecoms company to one of the UK ’s leading business telecommunications providers.    

Synex Network Services has been acquired by Chess Plc of Alderley Edge, Cheshire , which specialises in a wide range of services, including fixed lines, calls, mobile, PDA and business class broadband. Chess Plc has a proven record of integrating the businesses it acquires into its operation with minimal disruption and this latest take over ties in with the company’s long term growth strategy.  

Jo Watkin, a senior manager in Clement Keys’ corporate finance team, handled the Synex sale.  Jo supports a variety of companies, from owner managers and SMEs to large corporates, advising on management buy-outs and buy-ins, start-up businesses and flotations, and had advised Ann Taylor previously when she acquired the company from Ashtenne Plc approximately 3 years ago.

Jo has worked closely with Ann since the acquisition, helping her to establish a robust reporting framework and strong controls for the business. Subsequently, when Ann decided that the time was right to realise her investment she contacted Jo and instructed her to handle the sale.

“Chess Plc has been very acquisitive over the past few years and when we made an initial approach the company expressed an immediate interest. Synex represented a very good fit with its current business operations,” says Jo.

 “The fact that Chess could absorb Synex’s ongoing customer base without increasing its overheads was a clear advantage and helped make for a very straightforward deal, which we were able to complete in just three weeks.”