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Unified comms specialist Elitetele.com has set up an acquisition team and earmarked millions that could be spent on growing the business.
The firm's acquisitions team has been given £20m to spend on M&A activity and is headed by Group CFO Rob Burbidge and Alex Cliffe, commercial director. Any deals that go through will be supported by a business and operational integration team.
Elite is no stranger to using acquisition as a tool to grow the business and has snapped up 15 companies since 2008, which have all been funded from cashflows and carefuly budgeting and not through external investment.
“Our aim is to continue grow our business through both organic and acquisitive means. We’ve created a dedicated team within Elite to ensure we have specifically focussed people working on our M&A activity. They are then supported by a comprehensive integrations team to ensure we can respond to potential deals quickly," said Elitetele.com founder and CEO.
He added that it took a straight approach to deals and was not going into discussions with potential sellers with a tactic of trying to exploit the situation.
"We build a strong open relationship with vendors and rather than offering high with the intention to then chip the price before completion, we take an honest and straight-forward approach that gives business owners clarity on the value offered and deal structure that they can rely upon. We pride ourselves on our reputation of paying out what we said we would. To me, that is success for us and for the vendors,” said Newing.
The firm is hitting revenues above £50m, which is growth of 37% on the numbers it produced in fiscal year 16, and employs 165 staff across seven locations.