02:00 Mon 10 Aug 2020
Duke Royalty Limited - Follow-on investment into existing royalty partner
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Accretive follow-on investment into existing Royalty Partner
Highlights:
· Investment will enable Welltel to complete a further strategic acquisition of
· The financing is expected to be accretive to Duke's earnings, delivering higher distributions of approximately
· Intellicom is the fifth Welltel acquisition that has been financed with Duke's capital
· Intellicom is a long-standing, profitable telecommunications company with a complementary product offering that provides both attractive product and customer synergies to Welltel
· Investment makes Welltel the largest single investment in Duke's portfolio
Founded in 2005, Intellicom specialises in the supply, installation and support of IP telephony solutions to over 350 corporate clients across
Intellicom's customers will further benefit as a result of being able to satisfy all of their IT and communications needs from a single provider offering cloud, telephony, unified communications, connectivity, proactive IT and cybersecurity.
This follow-on financing represents the fifth tranche of capital invested by Duke in the business since 2017, providing on-going support for Welltel's acquisition roll-up strategy. Welltel has grown to be one of the largest technology service providers in
Based on the increased total investment of
"We are proud to be supporting Welltel once again with our flexible, long-term offering, as it continues to execute on its growth strategy by successfully combining organic growth with strategic M&A. Intellicom represents another clear value-add acquisition for the Group, providing both synergies and cross-selling opportunities.
"Welltel is a clear example of one of our Partners which is benefitting in the current climate and we are pleased to be able to back them. Welltel's diversified IT product offering and proven ability to integrate acquisitions, along with Duke's financial partnership, has resulted in Welltel being able to continue to build the firm through opportunistic M&A. This transaction shows that Duke remains open for business and we continue to investigate a number of exciting other deal opportunities which will diversify our portfolio of long standing, profitable businesses."
"Welltel has made six acquisitions in total, which in combination with strong organic growth makes us the fastest growing integrated voice and data solutions provider in
"We are very pleased to have
***ENDS***
For further information, please contact www.dukeroyalty.com, or contact:
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+44 (0) 1481 741 240 |
Cenkos Securities plc (Nominated Adviser and Broker)
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+44 (0) 207 397 8900 |
(PR)
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+44 (0) 20 3757 6880 |
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