Funding from Barclays enables Solar Communications Group acquisition
Solar Communications Group, which has offices in Wiltshire and London, has announced the acquisition of Manchester based Armstrong Communications for an undisclosed sum with funding from Barclays.
Announcing the acquisition, Solar Group Chief Executive Officer Mark Colquhoun, said: “Armstrong Communications will join Solar Communications within the Group and together become a powerful national force within the communications industry. There are many synergies amongst the two companies. We share a passion for service excellence, technical competency and an ethos that sees our customers and talented staff as highly valued assets. It’s great that Barclays has been so supportive in the current climate and we look forward to working with them as we seek to grow the business over the coming years.”
The new group now employs 70 staff including a doubling of field based engineers and customer support staff providing a national service from their offices in Chippenham, London and Manchester.
Bath-based John Squier, Barclays Relationship Director who financed the deal, commented: “It’s great to see a communications company such as this bucking the economic trend and thriving in the current climate. The future looks bright for this forward thinking and ambitious business as they continue to increase their position within their chosen market.”
Mark Colquhoun concluded: “The Solar Communications Group has an exciting growth plan – annual sales have grown from £2 m in 2007 to £10 m in 2012. In order to maintain this growth we need greater national reach and additional talented people. The acquisition of Armstrong contributes to the achievement of both of these goals. Both companies care passionately about driving positive change in their clients, backed up by delivering world-class technical support and our message to clients is that this is only going to get better.”
Barclays is a major global financial services provider engaged in personal banking, credit cards, corporate and investment banking and wealth and investment management with an extensive international presence in Europe, the Americas, Africa and Asia.
With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs approximately 140,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.
For further information about Barclays, please visit our website www.barclays.com.
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