Transcend Corporate, the Thames Valley, Birmingham and Hong Kong based corporate finance adviser, is pleased to announce the sale of Koris Communications Group Limited (Koris) to MXLG Acquisitions Limited (MXLG). A Transcend Corporate team, led by partner Steve Bartlett and assisted by colleague Joe Chiles, acted as lead advisers to the shareholders of Koris.
Based in Hemel Hempstead, Koris is a specialist provider of managed communications services and provides on-premise, hybrid, private cloud, public cloud, voice and data infrastructure and applications. They have particular expertise in Mitel telephony and Skype for Business solutions. Established in 2007, Koris has grown significantly since its inception and boasts a wide range of blue-chip customers.
MXLG is a joint venture between MXC Capital and Liberty Global Europe 2 Limited (a wholly owned subsidiary of Liberty Global plc).
Transcend were appointed by the shareholders of Koris to conduct a confidential sale process and marketed the business to a selected range of acquisitive buyers. The shareholders were keen to find a buyer who would take the business forward and continue to develop the service based proposition and support the business for future growth. Koris received significant interest, before agreeing to a deal with MXLG.
Gary Tranter, Koris MD said: “All of the directors of Koris are delighted to have concluded the sale of the business to MXLG. With Koris now being part of a wider group, we expect that the service proposition to customers will continue, with customers benefitting from the broader range of products and services now available as part of MXLG’s wider offering. This is a new phase in the development of Koris and we wish the staff and business well for the future.”
Of Transcend, Gary Tranter said: “Transcend played a key role in delivering this deal for the shareholders of Koris. Their hard work and determination was a key factor in ensuring we achieved this successful outcome. On behalf of all of the shareholders I would like to thank Steve and his team for identifying the right buyer and negotiating a successful deal. We would happily recommend Transcend to business owners looking for corporate finance advice.”
Steve Bartlett, Partner at Transcend added: “Koris is a great business in an active and growing market sector. It’s a space we know very well and we are pleased to have been able to use our sector expertise to deliver a great deal for the shareholders of Koris. We expect Koris will continue to grow under MXLG’s ownership.”
Legal advice to the shareholders was provided by Matt Fleetwood of Beyond Corporate LLP.