Chess Wraps Up 3NM Deal
The acquisitive telecoms company buys again
Chess Telecom is showing no signs of slowing down its acquisition strategy and has announced it 31st buy-up, the fourth it has made in the last 12 months.
The company has bought Midlands based 3NM, adding 3,000 new customers to its 20,000 strong client base. It expects the deal will help its revenue rise to £27m by this April, £6m more than in 2008. Scott Ratcliffe, a director at 3NM, says he feels that the deal will allow 3NM to capitalise on its assets, while feeling confident that its customers will be well looked after. “We spoke to a few interested parties when we came to sell and Chess was the clear choice,” Ratcliffe said. “From our first contact with Chess we saw how well it focused on its customers. The fact that it is the first telecoms company to get the Customer First Award is proof of this. “As a result, and because of Chess’ proven track record at making acquisitions we knew this deal would give us the best value.” David Pollock, chief executive of Chess added: “Our annual figures show continued growth in 2009 and both organic sales and acquisitions play their part. “We now have thirty one acquisitions under our belt and we are continuing to consolidate the telecoms sector.” © Crimson Business Ltd. 2009