Sitec is a delivery-focused project management company providing end-to-end solutions for the UK’s mobile and fixed line network operators. The business specialises in network design, rollout, upgrade, and management to the mobile telecommunications industry. It also has an expanding presence in the wayleave, design (planning) and installation of fixed line fibre optic networks.
The transaction brings together two companies and creates a group with a turnover in excess of £100m and 500 employees working across the full network lifecycle. The acquisition will also provide the platform for WHP Telecoms to enter the fast growing and dynamic fibre market.
This is the first acquisition WHP Telecoms has made since completing a management buyout backed by Equistone Partners Europe in 2018 and represents an important step in the group’s strategic growth plan.
Andi Tomkinson and Sebastien Leusch at Equistone Partners Europe, said: “An important part of our investment strategy for WHP Telecoms is to build on its market leader status, boosting the scale and breadth of its services through organic growth and strategic acquisitions. The acquisition of Sitec Infrastructure Services fits with that seamlessly, presenting an exciting new opportunity to add to WHP’s customer base and geographical reach, as well as providing entry into new markets.”
Rob Potter, CEO of WHP said: “Sitec is an excellent fit for WHP Telecoms, both in terms of our culture and the skillset that the team will bring to the company. The acquisition is consistent with our appetite to lead consolidation in the sector and continue to strengthen our services and breadth of offering.”
Adam Eatock and David Hawthorne, Directors of Sitec commented: “This deal represents a major milestone in Sitec’s development; WHP is an excellent home for our business. We are looking forward to working closely with our new colleagues to explore new opportunities and continue to deliver outstanding outcomes for our customers.”
Michael Loudon and Tom Barnwell at Clearwater International supported WHP with corporate finance and debt advisory services on the transaction, with Jemma Clarke and Ben Collins at Addleshaw Goddard providing legal advice and Chris Heatlie at BDO providing financial due diligence.