French telecommunications firm is ready to buy the book group in the amount of €150

  • French telecommunications firm is ready to buy the book group in the amount of €150
    Independent.t. E.
    Irish specialist housing provider Group the book will be bought by the French site, for more than €150 m, the Irish independent can reveal.
    https://www.independent.ie/business/irish/french-telecom-firm-poised-to-buy-kn-group-in-150m-deal-37205118.html
    https://www.independent.ie/incoming/article37205697.ece/aba16/AUTOCROP/h342/1109292.jpg

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Irish specialist housing provider Group the book will be bought by the French site, for more than €150 m, the Irish independent can reveal.

The buyer Circet, a leading French telecommunications provider with annual revenues of almost €800 m, as evidenced by the advent international, an American Private investment company.

The proposed integration, which is in the final stages of the contract and subject to European law On competition clearance, will lead to unexpected for Donagh Kelly, chief Executive of kN groups.

Not disclosed attention, but it is believed that the company’s scale book will gain more than €150 million.

Mr Kelly, who is listed in the book of companies in the UK, the office of the bids submitted as “people with significant control”, owning not less than 75pc of the business, directly or indirectly, will continue to lead a €350 million turnover book group.

He also will take the position of Deputy General Director Circet CEO Philip Lamaze.

KN was advised by Clearwater international, will retain its senior management.

Both companies will continue to operate under their own brands with small changes to expected business in the respective regions. The book, which has major contracts with two of the largest telecommunications operators in the UK and Ireland, providing services to clients, including Air, Vodafone, sky, virgin, BT, esb and London underground.

It will continue to operate under the brand KN and there is an intention to centralise all functions for France.

“Over the past few years, the management team is exploring strategic options that will allow the book to continue its recent strong growth,” Mr. Kelly told the Irish independent policy.

“The partnership with Circet quickly emerged as the obvious solution, allowing us to implement ambitious plans to deploy a network throughout Ireland, the UK and internationally.

“The transaction, which is subject to antitrust approval, will further increase the experience and kN can offer our clients.

“It will also allow us to provide enhanced fully managed service, along with stability requires a service growth plans of our clients. The planned reinvestment of the shareholders book in a new relationship will build the Foundation for the development of the two companies in partnership.”

Mr. Kelly said the antitrust approval is expected before the end of the year.

KN, which employs 2,500, is the leader in Ireland in the provision of telecommunication services, energy, and transport infrastructure in particular. It builds the physical infrastructure required to service fibre broadband, for example, as well as to build electrical networks.

That provides many opportunities for growth in the Irish market as the efforts to get broadband access to rural homes and premises on. In addition, the growth in the information center industry here and the associated energy requirements can also benefit from the book.

The business performed strongly in its latest fiscal year, according to its most recent accounts, which cover the 12 months to the end of February 2017. Turnover amounted to 15.5 PC year-on-year to more than €altitude 231m. Operating profit also increased sharply, by almost a third, to €11.1 m.

Like Circet, has recently been acquired by advent international. In 2017 Circet had a turnover of around €750 million, with about 3,200 employees.

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