nexa law has acted on behalf of the shareholders of Comvergent Holdings Limited on their sale to Solutions 30, a leading international technical services company listed on Euronext stock exchange.
Founded in 2005, Chester based Comvergent has developed a range of services dedicated to rolling out and maintaining wireless networks including 5G. Comvergent has been working for over 10 years with major telecom brands including Ericsson, Nokia and Huawei.
This transaction marks the entry of Solutions 30 into the UK market, which has strong developmental potential in the field of fixed and mobile telecommunications.
The sale side legal team was led by Ben Walmsley and supported by Anushka Dosanjh, while Hogan Lovells acted for the buyers, Solutions 30.
Ben Walmsley said; ‘We are delighted to have advised John and the management team on this transaction. The acquisition of Comvergent provides Solutions 30 with a cornerstone for growth in the UK telecommunication infrastructure market. This was a great result for all parties.
Since its inception in 2005, Comvergent has developed a range of technological solutions to launch and maintain wireless networks. Based near Chester, Cheshire, the company operates throughout the United Kingdom. Comvergent has been working for over 10 years with major telecom brands including Ericsson, Nokia and Huawei. The company has recently grown as a result of position itself in key markets for mobile networks, a trend which is expected to intensify with the arrival of 5G.
Paul Garston, Managing Director of Comvergent commented; ‘The strategy we have pursued over the last five years has enabled us to consolidate the operational and commercial foundations of our business. Our integration into the Solutions 30 Group provides us with the financial resources we need to capture the potential of our markets and take full advantage of the growth opportunities available to us. Comvergent will also be able to build on Solutions 30’s track-record in Europe to strengthen its positioning and accelerate its growth.”
This acquisition is fully in line with Solutions 30’s growth strategy and reflects its ambition to strengthen its European footprint and position itself in fast-growing markets.
The deal sees founder and Chairman John Roberts exit the business following a period of transitional support.
The Solutions 30 Group is the European leader in solutions for new technologies. Its mission is to make the technological developments that are transforming our daily lives accessible to everyone, individuals and businesses alike. Yesterday, it was computers and the Internet. Today, it’s digital technology. Tomorrow, it will be technologies that make the world even more interconnected in real time. With more than 30 million call-outs carried out since it was founded and a network of more than 11,000 local technicians, Solutions 30 currently covers all of France, Italy, Germany, the Netherlands, Belgium, Luxembourg, the Iberian Peninsula, Poland, and the United Kingdom. The share capital of Solutions 30 SE consists of 107,127,984 shares, equal to the number of theoretical votes that can be exercised.
Solutions 30 SE is listed on the Euronext Paris exchange (ISIN FR0013379484- code S30). Indexes: MSCI Europe Small Cap | Tech40 | CAC PME | SBF120 | CAC Mid 60. Visit our website for more information: www.solutions30.com