Refinancing of Southern Communications
HMT LLP advised Southern Business Technologies Limited a leading independent B2B telecoms service provider, and their bankers Santander, on the growth funding of the business.
Hampshire-based Southern Communications was established in 1956 and is now a leading supplier of business-to-business telecoms products and services, with a focus on SME businesses in the South of England. Their award-winning service offering encompasses business mobile, business broadband, phone systems and fixed lines and call charges.
The £4.75m financing package comes from Santander’s Breakthrough Programme, which aims to help Britain’s fastest growing SMEs. Southern Communications is set to increase its staff headcount by 50 percent and continue its rapid growth, which includes two notable mentions in the Sunday Times Tech Track, a list of the 100 fastest growing technology companies in the UK.
HMT supported the company in building its financial model and providing tax and deal structuring advice on its refinancing. The team also provided financial due diligence services to support the refinancing and advise on an acquisition which was also completed as part of the transaction.
“Providing a full bid support service across our lead advisory, transaction services and tax advisory teams gave Southern Comms and Santander a co-ordinated approach for them to achieve their finance raising and restructuring as they embark on their next phase of growth. As their retained advisers we look forward to working with Paul and the team over the coming years.”
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