Investment in Virtua by Connection Capital
HMT LLP undertook due diligence on the investment in specialist telecom engineering firm Virtua UK Ltd by Connection Capital Ltd.
Based in Wiltshire, Virtua provides services from design and installation, to testing and optimisation, for expanding and upgrading mobile networks on behalf of the major UK mobile network operators. Their client base also include commercial estate owners of major developments such as Terminal 2, Wembley Stadium and the “Walkie Talkie” skyscraper in London.
Virtua has secured £4.6 million from over 70 Connection Capital clients. The investment will drive accelerated growth by enabling the firm to bid for more and larger contracts and fund targeted acquisitions. Investors will have the opportunity to benefit from tax, as the investment is eligible for the Enterprise Investment Scheme (EIS).
HMT undertook due diligence on this transaction
Miles Otway, Partner at Connection Capital commented:
Andy Watts, Managing Director at Virtua UK commented:
Paul Read commented:
“We are delighted to have advised Connection Capital on this transaction. Virtua operates in an innovative marketplace and with the support from Connection Capital, Management are in strong position to lead the business through a period of rapid and significant growth.”
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