Solutions 30 Group announced today that it has signed a deal to acquire 100% of Comvergent Holdings Limited (Comvergent). This transaction marks the entry of Solutions 30 into the UK market, which has strong development potential in the field of fixed and mobile telecommunications. In 2019, Comvergent had sales close to €17.5 million. The company will be fully consolidated in Solutions 30 Group's financial statements as from December 1, 2020.
Founded in 2005, Comvergent has developed a range of multi-technical services dedicated to rolling out and maintaining wireless networks. Based near Chester in North West England, the company operates throughout the United Kingdom with a team of technicians spread across the country. Comvergent has been working for more than 10 years with major telecom equipment manufacturers, including Ericsson, Nokia and Huawei. In recent years, the company has positioned itself in key markets for mobile networks and grown as result, a trend which is expected to intensify with the arrival of 5G networks.
This acquisition is fully in line with Solutions 30's growth strategy and marks the first step in its deployment in the United Kingdom. Solutions 30 is gaining a foothold in the UK telecommunications market and intends to offer its range of multi-technical proximity services for fixed and mobile networks.
Paul Garston, Managing Director of Comvergent commented, "the strategy we have pursued over the last five years has enabled us to consolidate the operational and commercial foundations of our business. Our integration into the Solutions 30 group provides us with the financial resources we need to capture the potential of our markets and take full advantage of the growth opportunities available to us. Comvergent will also be able to build on Solutions 30's track-record in Europe to strengthen its positioning and accelerate its growth."
Franck D'Aloia, COO in charge of transformation for Solutions 30, states, "I'm very pleased to welcome the Comvergent teams to Solutions 30 Group. After the acquisition of Algor in Italy, announced a few days ago, Solutions 30 is relaunching its M&A strategy that was put on hold over the first nine months of the year due to the health crisis. This transaction reflects the Group's ambition to strengthen its European footprint and position itself in fast-growing markets."
Solutions 30 Group is now established in the United Kingdom through a new subsidiary, Solutions 30 UK Limited, which owns 100% of the shares and voting rights in Comvergent. The deal sees founder and Chairman John Roberts exit the business following a period of transitional support.
About Solutions 30 SE
The Solutions 30 group is the European leader in solutions for new technologies. Its mission is to make the technological developments that are transforming our daily lives accessible to everyone, individuals and businesses alike. Yesterday, it was computers and the Internet. Today, it's digital technology. Tomorrow, it will be technologies that make the world even more interconnected in real time. With more than 30 million call-outs carried out since it was founded and a network of more than 11,000 local technicians, Solutions 30 currently covers all of France, Italy, Germany, the Netherlands, Belgium, Luxembourg, the Iberian Peninsula, Poland, and the United Kingdom. The share capital of Solutions 30 SE consists of 107,127,984 shares, equal to the number of theoretical votes that can be exercised.
Solutions 30 SE is listed on the Euronext Paris exchange
Contact
Analysts/investors: Nathalie Boumendil | Tel: +33
Press: Samuel Beaupain | Tel: + 352 2 777 4210 | media.relations@solutions30.com
Attachment
- S30-UK-EN (https://ml-eu.globenewswire.com/Resource/Download/011a6d05-d7bd-45a2-903b-d09e3dee252e)
