VAR Elite Telecom hits £50m revenue with Nexus acquisition
Nexus acquisition adds £16m revenue and 35 staff to Elite
Comms VAR Elite Telecom claims to have lifted its revenue to over £50m with the acquisition of Nexus Telecommunications.
The acquisition marks Elite's 15th since 2008, and sees Nexus add £16m in revenue and 35 staff to the Elite business. Elite will now have 135 staff members across seven offices.
Matt Newing, CEO at Elite, said: "Nexus has a great reputation in the industry and is a perfect complement for Elite. We share a similar high-service culture, and we believe the combination of our two companies' unified comms and IT products and services will deliver the strongest client offering in the industry.
"Nexus has some bespoke service-wrap solutions to meet individual customer requirements that Elite Telecom will offer to our wider customer base, which focus on corporate and enterprise clients. Its great customer base is backed by a strong team of people who we're really happy to welcome to the Elite Group."
Elite began as a traditional comms VAR before expanding more in IT, and now offers managed services around data, storage and security as well as cloud solutions.
In its most recent filing on Companies House, Elite reported revenue of £22.5m for the 12 months ending 31 July 2016.
The acquisition marks Elite's second in quick succession after it acquired Comms Consulting Limited last month, bringing the stricken firm out of liquidation.
CEO Newing said at the time that Comms Consulting managing director Karl Alderton contacted him on Instagram asking for help getting out of financial troubles.