Lancashire based Elite acquired Manchester based FoneRent after the business went into administration. FoneRent Ltd provides short-term international mobile phone and data solutions which Elite recognised would help customers who routinely make trips overseas.
The sheer cost and inconvenience some businesses endure in maintaining an ‘always on’ presence whilst travelling abroad had led CEO, Matt Newing, searching for an acquisition to minimise the problem and that would add value and efficiency to the customers.
Internationally, FoneRent is known to provide mobile services to Cannes Film Festival, as well as being heavily involved in the sporting calendar – BBC sport, ITV sport, Formula One and the Olympics/Paralympics.
“When we learnt FoneRent had gone into administration we knew we could offer a lifeline to its clients and suppliers which would ensure a continuity of service, “commented Alex Cliffe, Operations Director at Elite.
“Our size and success means we’re much better placed to manage the seasonality of the business, we have always provided clients with an excellent service and helped them overcome the simple but expensive hurdles placed in front them just because they do business overseas.”
Elite, whose clients include Merlin Entertainment Group, P&O ferries, and Air France, rescued FoneRent from administration after the global business suffered a decline in contracts following the Olympics and a shortage of working capital and bank funding.
Ian Duff, FoneRent’s Head of Service and Support has been welcomed as part of Elite, he said; “This has been the best possible outcome, clients have traded with FoneRent for years because we have always gone out of our way to meet their requirements.
“Their response has been really positive and some are looking to place even more business with us now on the basis that we’re part of a much bigger, profitable company like Elite.”
Alex finished; “Buying a business out of administration is never easy but we have the skills and infrastructure in place to achieve this with little or no disruption to clients.”