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Southern secures acquisition firepower

Acquisition - Southern Communications secures a new £36m loan facility - SantanderCB

Basingstoke-based Southern Communications has secured a new £36m loan facility from Santander and HSBC, and attracted investment from private equity firm Livingbridge to support plans to double revenues over the next 3-5 years.

The company, which caters for SMEs' IT service and telecommunications needs, has already enjoyed rapid expansion during the past five years with turnover growing from £10m to £32m on the back of organic growth and an acquisition programme.

Livingbridge has taken a minority stake in the company which has also added former TalkTalk chief executive David Goldie to its board as group chair.

 

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.

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