Acquisition of Tru Solutions by TFM Networks
HMT LLP advised connectivity service provider TFM Networks on their acquisition of Tru Solutions Ltd supported by Santander Corporate and Commercial .
Founded in 1995, TFM is a provider of voice, data and IT network connectivity services to multi-site SMEs across the UK.
Based in Derby, Tru Solutions is a B2B mobile communications provider and will complement TFM’s range of connectivity services. Tru Solutions is the third company acquired by TFM as it has expanded in recent years with the acquisition of both Conexion Communications in 2012 and Waveworks in 2013.
Santander has provided total funding of £4.5 million to support the acquisition, enabling TFM, with its operations in Aylesbury and Loughborough, to offer an enhanced suite of products to an enlarged customer base, ultimately leading to “transformational growth” over the coming years.
HMT provided due diligence services on this transaction.
Martyn Drake, Director of Growth Capital at Santander commented:
Debbie Marsh, CFO of TFM commented:
“We are delighted to have assisted TFM and Santander on the acquisition of Tru Solutions which will enable the business to achieve its growth ambitions over the coming years. We wish TFM every success and look forward to working with them again in the future.”
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