Amidst the doom and gloom of these challenging economic times, award winning Chess Telecom has announced a new £10 million acquisition fund and is now on the look out for businesses wanting to sell in 2010.
Chess is based in Alderley Edge, employing over 120 people, and over the past 5 years it has become an acquisition machine. The experience gained from 39 acquisitions ensures that all departments are geared towards integrating the new customers as efficiently as possible. The focus is on making the new customers feel welcome and cross-selling more products to ensure maximum customer retention.
Chess has identified that consolidation within telecom resellers will continue vigorously over the next couple of years. Customers will demand more products and increasingly sophisticated solutions and applications. This will result in super resellers that have achieved sufficient critical mass to satisfy these demands.
Corporate Director Richard Btesh advised, “In my experience people sell their businesses when they are bored or have cash flow problems. This is not the best time, it is usually better to sell a business that is performing well and as a buyer I have no problem in paying an enhanced price for a better performing business. I am delighted to say we have now increased our facility for acquisitions to £10million”.
Many commentators are highlighting expectations of changes in Capital Gains Tax legislation (to follow the 50% Income Tax hike) as a reason to sell sooner rather than later so can we expect another rush of deals before 5th April 2010?
Visit their website for more information on Chess Telecom.
