Hammonds advises Gresham on £32.8 million management buy out

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    Hammonds LLP, led by Birmingham head of Corporate, Peter McLintock, has advised Gresham LLP on the £32.8 million management buy out of Spice plc's telecommunications division, Team Telecoms Group (TTG).

    TTG operates through four divisions; Air Radio, Team Simoco, Indigo Telecom Group and ComGroup (in Australia), providing a market-leading integrated suite of telecommunications and technology services to a wide range of industries including airline, utilities, transport and mining.

    Headquartered in Derby, TTG has developed and grown in recent years following a series of strategic acquisitions, with most recently the acquisition of the Australian division of its business, ComGroup Australia Pty Ltd.

    Focusing on the professional mobile radio industry and the installation, commissioning and maintenance of fixed line telecommunications services, the company provides complete turnkey telecoms solutions for corporate clients in the UK and worldwide including the Ministry of Defence, British Airways, BMI and Western Power.

    Hammonds Corporate team comprised Peter McLintock, John Heaton, Simon Major and Conor Farrell, with support provided by banking partner David Adams, who advised on the debt package provided by HSBC Leveraged Finance.

    Paul Franks, partner at Gresham who led the deal, commented: "Each of the businesses in TTG have compelling market positions in their own right and we are delighted to be investing in this global business. Hammonds provided us with clear cut, effective and commercially aware advice throughout the deal demonstrating a no nonsense approach that helped drive the deal."

    Peter McLintock of Hammonds said: "It was a pleasure to assist Gresham with this opportunity, which has all the ingredients for considerable growth in the future both organically and by strategic acquisition."

    For further information contact:

    Nicola Woodmass, Head of Communications, Hammonds LLP, on 0121 222 3690 or email: nicola.woodmass@hammonds.com

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