Mills & Reeve on-call as Indigo Telecom Group acquire Belcom247

Leading national law firm Mills & Reeve has advised Indigo Telecom Group, in the acquisition of Belcom247 bringing the two long-standing telecoms specialists together and expanding their capabilities on a global scale.

Indigo Telecom Group specialise in the design, build, supply, management and maintenance of telecoms networks across the world and Belcom247 focus on field engineering and data centre connectivity solutions. The new company will provide mission critical network installation and maintenance services to many major data centres across Europe and Asia. 

This is the first acquisition for Indigo since the MBO in July 2016 which was led by Maven together with YFM. 

Andrew Symmonds, Investment Director at Maven, said: “Maven has always supported a buy-and-build strategy as part of the investment in Indigo. We remain highly supportive of the management team, its strategy to grow the business and to deliver to customers an increasing range of services worldwide.” 

Colin Granger, Investment Director at YFM, said: “The combination of the two businesses will add real scale, operational capabilities and geographical reach to the Group and continues Indigo’s impressive growth to date.” 

Stephen Thompson, CEO of Indigo Telecom Group, added: “Indigo and Belcom247 have been closely working together over a number of years. The benefit of bringing the two companies together is another step in realising the strategic intent of Indigo to become a global leader in the provision of managed services to our customers. This deal addresses our need to offer both existing and new customers a broader portfolio of services and greater geographical reach. Belcom247’s experience, specifically within APAC, will enable Indigo to provide additional value to customers who recognise that a ‘One Stop Global’ service approach provides significant commercial and operational benefits.” 

Peter McLintock, corporate partner at Mills & Reeve, said: “We have been delighted to support the Indigo team and their funders, Maven, YFM and now HSBC since the buy-out and on their acquisitions since then. Every deal is different. On this one, we needed to craft the deal terms in such a way that enabled the sellers to stay with the business and be enthused to add their experience and commitment to the already heavyweight management team. The result was a true combination, which we hope suits for everyone.” 

The Mills & Reeve team was led by Peter McLintock and Junaid Haroon with financial due diligence carried out by HMT and commercial due diligence by CIL. HSBC refinanced the Indigo Group and provided an additional funding facility. The Sellers were advised by Freeths and BCMS. HSBC were advised by Bond Dickinson. 

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