M Group has acquired Telent, the operational technology and digital solutions provider, for an undisclosed fee.
Telent has around £500m in annual revenues and specialises in the installation and service of broadband telecoms and digital infrastructure systems including to traffic lights and CCTV cameras.
Last year it was awarded a contract extension by National Highways to operate the digital connectivity network for the strategic road network (SRN) until 2028.
Reflecting on the benefits of the deal, M Group emphasised the combination of its infrastructure service offering and Telent's digital solutions and technology capabilities.
M Group said the new acquisition would allow it to strengthen the preexisting relationships it shares with Telent and key organisations including Transport for London (TfL), National Highways, Network Rail, Virgin Media O2, BT, EE and Openreach.
Chief executive of M Group, Andrew Findlay, said: ‘This is a hugely transformative deal for M Group and I am delighted Telent is joining us. We recognise the strength of Telent's differentiated capabilities, market position and talented people that make it a great business. With the acquisition of Telent, M Group will be even better placed to deliver essential infrastructure services for life.'
Jo Gretton, chief executive of Telent, added: ‘Joining M Group marks an exciting new chapter for Telent, reinforcing our leading position in network and technology solutions.
‘With M Group's extensive infrastructure expertise and scale, we are well placed to accelerate our growth and continue to be a trusted partner for organisations at the forefront of the digital revolution.'
Managing partner and co-head of the UK team at CVC, Dominic Murphy, said: ‘Since CVC acquired M Group last year, the business has taken major strides forwards in the delivery of its ambitious strategy to strengthen its capabilities and enhance its solutions offering for clients.
‘This latest acquisition transforms M Group's digital and technology capabilities and accelerates its growth momentum, taking pro forma revenue to over £3bn.'
The transaction is subject to regulatory approval.
