The acquisition of Qube will see the Circet group further strengthen its range of services to the UK telecom service market.
Circet and Qube already individually service numerous major network operators, and through this partnership will further increase the scale and expertise offered to their clients. The combination of the two businesses also sees them strengthen the last-mile proposition to altnets and full fibre network builders, which is anticipated to be a significant growth driver of the UK telecoms installation market over the next number of years as more homes and businesses shift to full fibre.
Donagh Kelly, Deputy CEO of Circet said:
“The combination of Qube and Circet creates a powerhouse in terms of residential and business connections for the telecoms sector across the UK. Not only is our geographical presence enhanced, the service offering from the combined businesses creates end-to-end solutions for clients in the truest sense, from the exchange to the living room. The team at Qube have been very impressive to date and we look forward to joining forces and achieving great things together.”
Mussy Kurt-Elli, CEO of Qube GB said:
“After a successful deal, I can reflect on the great job done by the Acuity team. Marcus, Dan and the team worked closely with us and led a thorough preparation phase including a full suite of VDD which I believe strongly supported the level of interest received and the highly successful outcome. The process was choreographed to approach global strategic and private equity bidders, and we received offers from both groups. I’m delighted by the ultimate outcome, and excited for the next phase of Qube’s journey.”
Marcus Allchurch, Managing Partner at Acuity said:
“The sale of Qube GB to Circet once again underlines Acuity’s position as the leading European advisor to mid-market telecoms businesses. Qube GB is a great success story and I believe the company has a great opportunity to continue its growth as part of a much larger international group.”