Telecoms company acquired by services group
Thu, 10 Oct 2024 | BUSINESS SALE
NES Services Group has acquired Suffolk-based telecoms company Versatile Telephone Marketing (VTM) Limited. The deal reflects Deeside-based NES’s strategy of building its portfolio of UK businesses. The acquisition significantly bolsters the group's tele-marketing services.
£20 million-turnover NES has five other subsidiaries across sectors including environmental, parking and security enforcement. VTM joins 3GS, National Enforcement Solutions, HSG Security, Enforcement Pro and Caledonian Enforcement Solutions as part of the NES Services Group.
Operating for more than 26 years, VTM is a telephone marketing agency based in Bury St Edmunds. Following the acquisition by NES, the company will retain its branding, with the deal also safeguarding 15 jobs.
NES Services Group director Ashley Govier said: "This is a hugely important acquisition for our business. We want to diversify in professional services for clients in the private, public and third sector. Also, we want to ensure our portfolio of businesses are spread across the breadth of the UK as we grow."
Discussing the circumstances behind the acquisition, Govier said: "We have used tele-marketing services and had a clear idea on how we could do it better. Luckily, we came across VTM who were passionate about what they did and our vision and values aligned."
Following the announcement of the deal, which was advised on by Allington Hughes Law, NES Services Group has said it is keen to target further acquisitions.
Ashley Govier added: "Acquisitions are part of our growth strategy so we would welcome any conversation with business owners who are looking to exit or see if their business can add value to a larger group."
Despite significant barriers to dealmaking, M&A still remains a major strategic priority for many CEOs at UK companies
Find out more about the range of factors that could drive an increase in M&A activity in the UK's services industries
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