Comms Group (ASX:CCG)

Acquisition of Switched On Australia

Henslow has advised Comms Group (ASX:CCG) in relation to the $4.3m acquisition of Switched On Australia. The acquisition of Switched On further strengthens the Group’s position in the Melbourne market and adds over 900 SME customers and two additional sales staff to Comms Group, which will drive organic growth and increase cross-selling opportunities. Henslow acted as Corporate and M&A Advisor to the transaction. Comms Group is a leading business telecommunications provider with a broad product suite servicing SME & corporate mid-market customers and wholesale & partner customers.

Adding scale to Comms Group's existing business

Comms Group is a leading business Telco service provider with a broad product suite servicing SME & corporate mid-market customers and wholesale & partner customers. The company is well positioned to take advantage of strong growth in the corporate ICT market.

The Highlights

  • $5m+

    Annualised EBITDA

  • $4.3m

    Acquisition

  • $0.08

    Per Share

Expanding Global Network

Henslow’s extensive range of M&A and public market capabilities have helped create a seamless buy-side process. This is the third acquisition that we have assisted Comms Group and we look forward to continuing to support Comms Group grow as they increase scale and further strengthen their position in the corporate mid-market sector throughout Australia and internationally.

Timeline


August 2021

Acquisition of Switched On Australia

April 2021

Acquisition of Binary Networks

January 2021

Acquisition of Next Telecom

December 2020

$6.25m Placement completed

We are excited to welcome Switched On to the Comms Group business. The acquisition brings a strong SME customer base along with additional sales capabilities in our Melbourne Office. We also welcome founder of Switched on, Leigh Schwarm to the Group.

Peter McGrath, Comms Group CEO & Managing Director