Barclays backs Solar and Armstrong deal

Barclays bank provided some of the funding to help Solar Communications Group acquire Armstrong Communications highlighting it as an indication it will support the channel financially

In a demonstration of its commitment to helping the channel grow this year Barclays has revealed its involvement in the deal between Solar Communications Group and Armstrong Communications.

The undisclosed deal between the two comms dealers was concluded earlier this week but helped by a loan from Barclays, which told MicroScope yesterday it is keen to help resellers with credit.

The tie-up between Solar and Armstrong creates an entity offering national coverage employing 70 staff out of offices in London, Chippenham and Manchester.

Solar Group CEO Mark Colquhoun said that the two firms had a lot in common and would become a more powerful national force in the communications industry and thanked the bank for its support.

"It's great to see Barclays has been so supportive in the current climate and we look forward to working with them as we seek to grow the business over the coming years," he said.

Barclays has a specialist technology, media and communications team that is keen to work with resellers that are acquisitive and looking to grow this year.

John Squier, relationship director at the bank who financed the deal, said that the future looked good for the business as it looked to grow in its chosen market.

Colquhoun said that it had a growth plan, having grown from £2m in 2007 to £10m last year, and it recognised that to maintain that it needed greater national reach.

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