Telecoms firm sold for £17m

OLDHAM-based Clarke Telecom has been acquired in a £17 million deal by Yorkshire engineering group Renew.

Clarke Telecom is mainly owned by members and associates of the Clarke family, none of whom are involved in the day-to-day management of the business.

The firm provides engineering services for wireless telecommunications and specialises in installing and maintaining phone masts used by mobile and other wireless devices.

Managing director Nigel Newton, from Royton, will report to Renew’s engineering services director Paul Scott. Mr Newton resigned last month as a Labour councillor representing St James’s ward on Oldham Council.

Founded in 2000, the business has 200 staff and recorded operating profits of £3.5 million on sales of £32.9 million in the year to the end of October. The management team will stay with the business.

Clarke Telecom, based at Partington House in Stock Lane, Chadderton, was previously part of the Liverpool-based private equity-backed Clarke Energy Group.

Jamie Clarke, chief executive of Clarke Energy and previously business development director for Clarke Telecom, said: “We are pleased with the success that Clarke Telecom has delivered over the past 14 years. The company has grown into a leading supplier of mobile telecommunications infrastructure.

“We are confident that Renew Holdings will be the right owner of Clarke Telecom and will be a supporting partner for their staff and management.”

Leeds-based Renew said £11.9 million was paid up front and a further £5.1 million will be paid at the end of May. The deal has been funded from the group’s cash resources and a £12 million loan from HSBC.