InterGroup Communications Limited

Telecoms firm heads south west to buy rival Vanguard Corporate Finance and their client, InterGroup Communications have demonstrated that good businesses with experienced advisers can complete deals , whatever the conditions in the finance sector SOUTHPORT telecommunications provider Inter-Group Communications (IGC) is expanding into the south of England by acquiring a Bristol-based rival. Budd Communications has been bought for an undisclosed sum but the enlarged business will have an annual £3.6m turnover. The deal is part of ICG’s strategy to establish the UK’s largest Panasonic telecoms equipment dealer in the UK. Budd becomes a wholly-owned subsidiary of IGC with founder Mike Budd continuing to run the business. Budd is the second acquisition which Brian McCann from Vanguard Corporate Finance has helped IGC to complete. IGC was formed in 1976. It specialises in fixed line telecommunications services for business customers across the North West and Midlands. The company is a leading supplier of Panasonic, Mitel and Ericsson systems and its services range from the installation of simple telephone systems, to bespoke consultancy and the creation of complex voice and data networks. Clients include Merseyside Police, Mowlem Civil Engineering, Lancashire County Council and Ormskirk & District General Hospital. IGC managing director Cliff Barclay told LDP Business: “We have been looking to expand our geographic coverage and client base for some time and this deal is a good solution. “Successful completion of this deal has been down to our knowledge of the telecoms market, combined with Vanguard’s Corporate Finance and Funding expertise. We have enjoyed working in partnership with Vanguard” Established in 1990, Budd provides a similar range of telecommunications services to those offered by IGC. The company’s client base is predominantly located in the South West. Following the deal, the combined businesses will employ 34 people. Stuart Watson and Mark Nash from RBS provided funding, with Champion Accountants providing the due diligence. Kieran Donovan from law firm DWF provided legal advice and due diligence. Stuart Watson at RBS said: “Both IGC and Budd Communications are strong performers in their respective geographic locations.”