Refinancing of Southern Communications

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Refinancing of Southern Communications 2017-06-06T10:54:36+00:00

Project Description

Refinancing of Southern Communications

HMT, led by partners Andrew Thomson and Ian Barton, advised Southern Business Technologies Limited (“Southern Communications”), 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.

Ian Barton and Julia Carruthers supported the company in building its financial model with Holly Bedford providing tax and deal structuring advice on its refinancing.  Paul Read and Andrew Thomson also provided financial due diligence services to support the refinancing and advise on an acquisition which was also completed as part of the transaction.

Ian Barton commented:

“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.”

Paul Bradford, Chief Executive of Southern Communications, commented:

“HMT have been fantastic to work with and I would highly recommend their services. Their depth of corporate finance knowledge and also ability to turn around complex modelling under very tight deadlines is extremely impressive, and as we continue to grow both organically and through acquisitions, we would be delighted to lean on their expertise once again.”