Mitie has acquired Doncaster-based mobile telecoms tower infrastructure specialist 8point8 and its subsidiaries for around £10 million.
The transaction is structured as an acquisition of three separate legal entities: 8point8 Support Limited, 8point8training Limited and Vantage Solutions Limited (collectively known as 8point8).
The acquisition forms part of Mitie’s strategy to create a leading telecoms support services division, providing acquisition, design and construction services, and maintenance for the mobile telecoms tower infrastructure sector.
It follows the group’s recent takeovers of DAEL Ventures UK and P2ML Limited. In light of the growing demands of the 5G roll-out, network upgrades and passive infrastructure investment, integrating 8point8 into its telecoms division would, said Mitie, give it greater capacity to self-deliver additional end-to-end services.
8point8’s two associated businesses are industry training provider 8point8 Training, and specialist contract lifting business Vantage Solutions. Together, these offer Mitie the ability to set industry health and safety standards while adding the capacity to increase the self-delivery of key services.
In the year ended 31 December, 8point8 generated combined revenues of £18.3 million and a profit before tax of £0.6 million, with gross assets of £6.2 million. The company’s performance since 31 March 2021 saw 8point8 make a strong comeback from operational disruption caused by the Covid-9 pandemic.
Mitie states that 8point8's key clients include some of the UK’s leading mobile telecoms operators and would expand its existing portfolio. Its management team will join Mitie Telecoms, and Sam Storer, currently managing director of 8point8, will be appointed chief commercial officer of Mitie Telecoms.
Andy Train, managing director of Mitie Telecoms, said: “The acquisition of 8point8 substantially increases our capacity within the fast-growing mobile telecoms sector and adds another well-respected team to the Mitie Telecoms business. We are now one of the largest Telecoms Support Services businesses in the UK, with strong capabilities to support all aspects of cell site acquisition, design, construction, and ongoing site maintenance, allowing us to better serve our existing customers and to continue to add new clients as the roll-out of 5G in the UK gathers pace.”