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Accountancy firm Kreston Reeves has successfully advised Uniguest Inc on its acquisition of Cabletime Ltd, a subsidiary of Mediastar Systems, which provides design and manufacture of products for the streaming and signage industries.
It is reported that its solutions also range from distributing rebroadcast TV and synchronised AV to media channels to combining content creation technology with an “easy-to-use” interface for multiple sectors.
The acquisition of Uniguest, which is based in Nashville, Tennessee, and operates an additional 14 offices around the world, will allow it to “strengthen” its presence in the UK and provide synergies to its existing UK operations.
The combination of businesses will also reportedly provide Uniguest with new product offerings and further expansion into the digital signage industry.
Jeff Hiscox, CEO of Uniguest, said: “One of our growth pillars is M&A as it relates to finding companies that fit our strategy, add technology that our customers will want to leverage, and additional capabilities to our global base of operations.
“MediaStar fits each of these criteria and marks the fourth UK-based acquisition over the last 5 years. In each UK acquisition we have partnered with Kreston Reeves to be our financial diligence partner and they have exceeded our expectations every time, delivering timely and thoughtful analysis that enabled us to move quickly through diligence.”
He added: “I know each of the companies that we have acquired have also appreciated their professionalism and how easy they can make a fairly complex process.”
Jack Clipsham, partner at Kreston Reeves, said: “It has been a pleasure working with Jeff, the Uniguest team and Cripps once again, to support management in delivering its successful growth by acquisition strategy.
“As a US company acquiring a UK business there were inevitably some complexities due to differing tax treatments and we liaise closely with CBIZ, our US Kreston Global member firm, on these matters.”
He added: “Our thanks also to the team at Mediastar who worked tirelessly and effectively to facilitate a smooth due diligence process.”
