Acquisition of Azzuri Communications by Maintel

Deal typeTransaction Services
IndustryBusiness Services & Technology & Media

Our Transaction Services team provided financial and tax due diligence to Maintel in relation to its acquisition of Azzuri Communications, a technology and managed communications provider, as well as acting as reporting accountant on the transaction. The acquisition is a key component in Maintel’s strategy to grow and diversify its revenue base.  

"BDO supported Maintel in its acquisition of Azzuri Communications in 2016. The acquisition was a reverse takeover, funded by a combination of debt and equity, so the work had to satisfy funders’and AIM compliance requirements in addition to the company’s own due diligence and structuring needs. Faced with a tight timetable, deficiencies in the data room and limited access to the target’s management, the BDO team did well to pull together an extremely comprehensive and informative set of reports that fulfilled all the stakeholders’ diverse requirements. Impressively, faced with a number of practical hurdles in the final days of the process, BDO’s audit and corporate finance teams worked strenuously and effectively together to find pragmatic solutions that did not jeopardise key deadlines. It was a pleasure working with them and I would be very happy to do so again. Following the acquisition, as had been the case for our previous acquisitions, BDO’s tax team helped us to streamline the group’s legal and financing structure and forecast its future tax profile. This has been extremely helpful to our finance team, who do not have the in-house tax resource".      

Nicholas Taylor, Maintel NED