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Partner, Nigel Stanford, who led the multidisciplinary team at Cripps.

Partner, Nigel Stanford, who led the multidisciplinary team at Cripps.

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AdEPT acquires local company in continued growth strategy

Partner, Nigel Stanford, who led the multidisciplinary team at Cripps.

Partner, Nigel Stanford, who led the multidisciplinary team at Cripps.

 Local telecoms business AdEPT Telecom PLC, continues to expand with the purchase of the Orpington based company, Atomwide.

The £12 million acquisition is in line with the company’s ambitious growth strategy and provides AdEPT with increased opportunities within the public sector, as Atomwide supplies information technology and information communications technology solutions to over 4,000 UK schools, local authorities and Regional Broadband Consortia with over two million users.

AdEPT Telecom, which is located in Tunbridge Wells, is one of the UK’s leading independent providers of managed services for IT, unified communications, voice and data connectivity  and provides services to both the private and public sector. This latest deal is the company’s fifth acquisition in the last two years and the eighth major transaction Cripps has advised on since 2013.

Partner, Nigel Stanford, who led the multidisciplinary team at Cripps involving eight other lawyers said: “This was a complex deal due to the shareholding structure of the target and the deal financing aspects which involved a number of different funding providers. We were also working to a very tight time schedule.”

In order to meet the deal funding requirements, AdEPT secured £7.3m from Business Growth Fund (BGF), with Cripps negotiating all of the agreements and dealing with BGF’s due diligence requirements. The remaining funds were obtained by AdEPT through their existing banks, with Cripps, again, negotiating the detailed changes required to the company’s current debt facilities, which arose as a result of BGF’s investment.

Ian Fishwick, Chief Executive of AdEPT, said: “Over the last two years we have completely transformed AdEPT from its origins as a telecoms company providing calls and lines to a managed services business providing complex solutions involving IT and telecoms. We have achieved this by completing five acquisitions. It has been hugely beneficial to work with the same team at Cripps on all of them. We work together as a very effective team as they understand what’s important to us.”

Cripps has offices in Tunbridge Wells, London and Kings Hill.

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