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Smith Cooper has revealed it recently advised on a management buyout (MBO) for Team Telecom Group (TTG), an international communications organisation.
The group was already partially owned by the existing management team, who have now bought the remaining stake.
The buyout team comprises chairman Peter Burridge, group CEO Mike Norfield, chief commercial officer Phil Williams, executive director Ian Carr and executive director Andy Woodhall.
The deal team, led by Darren Hodson from the firm, was appointed by the management team to structure and manage the transaction.
Burridge said: “We’re delighted to have completed the transaction and pay testament to the professionalism and tenacity conveyed by Darren and his team throughout, who ensured the smooth transition of ownership.
“We are committed to growing the business further and cementing our position within the industries we serve.”
Hodson added: “This was a fantastic opportunity for the Management team to conduct a complete buy-out, and secure complete ownership.
“The team’s extensive domain knowledge will no doubt ensure TTG continues to lead the way in the communications sector but will also provide them with the opportunity to tap into new and emerging markets as the global communications market develops. I wish the team the very best.”
Legal advice was provided by Mills and Reeve.
