Springboard Corporate Finance is delighted to announce that it has advised the shareholders of network integrator Clearcomm Group on the cross border sale of the business to Indian-quoted Sterlite Technologies (STL) in a deal valued at £15.5m.
Clearcomm is a nationwide operator providing end-to-end network integration services across all sectors of the telecoms industry.
Dr Anand Agarwal, STL chief executive said “With the addition of Clearcomm’s network integration expertise to STL’s optical connectivity and data centre integration capabilities, we are uniquely positioned to help our customers deliver the most advanced, deep-fiberised digital networks.”
Clearcomm Directors; Stuart Evans and Richard Breffitt, will retain 20% of business and continue managing Clearcomm to support the delivery of the growth plan. They commented: “STL has a global vision for enabling digital transformation and has set off on an exciting growth journey. We at Clearcomm are looking forward to adding value with our network integration specialisation and being an integral part of this growth story.”
Clearcomm was advised on the deal by Springboard Partner Simon Ward, Assistant Director Jamie Berry and Manager Thomas Hammond. Simon commented “We are delighted to have supported Stuart and Richard on the sale of Clearcomm. Completing another international transaction over the covid period presented a number of complexities, we are really pleased to have helped to navigate these and successfully complete the transaction.”
Richard Breffitt, Director, Clearcomm Group
We are delighted with the support and guidance Springboard has provided. It has been a long, unfamiliar process for us and the Springboard team were with us every step of the way.