ThinCats funds £4m acquisition for North East fibre network installation providers
MAP Group (UK), leading independent providers of professional technology services to the UK communications sector, has been supported with £4m in acquisition funding by ThinCats, leading alternative finance provider to mid-sized SMEs. The funding will enable MAP Group to acquire specialist provider of telecommunications pole replacement and maintenance services, USL.
MAP Group is based in Stockton-on Tees, county Durham, and employs over 600 engineers operating across the UK from 18 regional offices. The company provides a wide range of technology services to network operators, service providers, equipment vendors, utility providers, government/public bodies and private enterprises.
The services include network equipment, planning and design; site surveys; cabling solutions; testing and audio-visual solutions; complete mechanical and electrical systems; maintenance, repair and technical training. The company is a level one provider to Openreach, City Fibre, Virgin Media, Netomnia, Toob and Gigaclear building the next generation fibre networks utilising the PIA Network or newly built infrastructure.
USL was founded in 2005 and the team has since worked on the replacement of LV power poles alongside Enterprise Power Services, Morgan Est. and Scottish & Southern Electric in partnership with experienced electrical linesmen to deliver a pole replacement programme. The services that MAP Group provide start exactly where the USL provision ends, so ensuring a very strong consolidation of expertise.
The opportunity was presented to ThinCats by Nick Wallis at Gerald Edelman Deal Advisory, London-based business advisory and consulting firm.
Mike Carlin, CEO, MAP Group: “This acquisition provides a natural extension of the products that MAP Group currently offers, and the two businesses will work seamlessly together to service our clients with a full professional technology service provision. ThinCats has worked hard to fulfil the funding requirements that we had, and we are very keen to launch the combined force of both businesses.”
Nick Wallis, partner, Gerald Edelman Deal Advisory: ““We are delighted to have advised on such an exciting deal for MAP Group, and believe we have helped to find the perfect funders in Thincats. It was clear from the very start of the process that MAP was the perfect home for USL, and that there were plenty of sales and operational synergies to be had. We have no doubt that both MAP and USL will have nothing but success in their new partnership going forwards. It has been a pleasure to work with Mike and his team, along with the team from Thincats, and we wish MAP Group a very successful future in the years to come.”
Dave Sherrington, regional head of sales, ThinCats: “Enabling the consolidation of two businesses that fit together so well is gratifying; it is always pleasing when you can see the synergies from the start of the process. We wish the teams at MAP Group and USL all the very best and are sure that the combination of their powers will result in an exceptional service for their clients.”
