Solutions 30 Resumes Its External Growth Policy And Strengthens Its position In The United Kingdom
Solutions 30 announced that it has acquired the business and certain assets of Mono Consultants Ltd (“Mono”). With this transaction, Solutions 30 is resuming its external growth policy and confirming its ambitions in the UK market, by strengthening its territorial coverage and its client portfolio in the field of mobile telecommunications networks.
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Founded in 1997, Mono offers turnkey services related to the deployment of mobile telecommunications infrastructures, from network design to deployment. One of the largest businesses in a highly fragmented UK market, Mono generated revenues of £41.5 million (€49.0 million) for the year ended August 31, 2020. Impacted by the Covid-19 crisis, the company did not have the critical size and financial strength to absorb the drop in volume and then respond to the strong market rebound. At the end of August 2021, the company closed its financial year with revenues of £27.8 million (€32.8 million). However, its excellent reputation, its first-rate customer portfolio and strong order book mean there is strong growth potential for the 2021-22 financial year, driven by the development of 5th generation (5G) mobile networks.
In this context, with the support of all its partners as well as Mono’s management team, Solutions 30 acquired the business and certain assets of this company on 22nd October 2021, thereby making its second acquisition in the United Kingdom, in a high-potential market. This transaction marks the re-launch of Solutions 30’s external growth policy, aimed at consolidating the Group’s positions in Europe.
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Paul Garston, Managing Director of Solutions 30 UK, said: “This transaction is a major step forward for Solutions 30 in the UK and we are delighted to welcome the 165 employees of Mono to the Group. There are many synergies between our two companies and the complementary nature of our activities, customer portfolios and locations significantly strengthens our base for development in a very dynamic UK market, whether in mobile telecommunications, fibre optics or energy.”
Mono operates throughout the UK and has a presence in Glasgow, Manchester and Milton Keynes. The company has built up a prestigious client portfolio and works with major operators including Telefonica and BT/EE, as well as telecom equipment manufacturers including Ericsson.
Peter Walsh, CEO of Mono since 2020, added: “Joining the Solutions 30 Group provides us with the strength and depth we need to develop the business and be at the forefront of our customer’s deployment plans in the UK. It provides access to the Group’s broad skills and expertise from different sectors as well as the working capital needed to fund our growth ambitions. The combined capability of Comvergent and Mono will make Solutions 30 a leading player across all four mobile networks in the UK.”
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