Project Description

Ashland is a well established and leading provider of IP based telecommunications solutions to UK businesses, with a specific focus on the hospitality sector. Following the acquisition by Spiritel, Ashland’s founder joins the board of Spiritel.

The acquisition is in line with Spiritel’s stated growth strategy of both organic growth and growth by acquisition, and follows the recent acquisitions of CallPlan and Networks Direct. Ashland compliments the existing business.

Commenting on the announcement, Alastair Mills, Chief Executive of Spiritel said:

“This is a transformational acquisition for Spiritel. It is our third acquisition during this financial year and is a significant milestone in the new management team’s strategy for Spiritel to deliver shareholders value. Ashland will deliver significant earnings enhancement to the Spiritel Group whilst expanding our customer base and providing additional routes to market for our voice and data products and services. The enlarged group will give us the ability to offer both existing and potential customers a powerful portfolio of IP-based solutions that meet their requirements in an evolving communications market.”

HMT commented:

“We were delighted to act for Spiritel on this its third acquisition. We believe that the acquisition of Ashland, which has a strong reputation and solid client base, provides Spiritel with an exciting opportunity to continue its success.”