Knight realises maximum value for CMT in exit to Babble
Knight Corporate Finance, the boutique adviser for the technology and telecoms industry, is delighted to have advised the shareholders of Corporate Management Telecom (CMT) on its sale to the Babble Cloud, the comms and IT service provider backed by LDC.
Founded by Firas Bilbeisi and Simon Izod-Nash in 1998, Essex-based CMT provides a range of telecoms and IT services to its SME and corporate customer base.
CMT is the latest graduate of Knight’s Vendor Assist programme to go on to successfully complete a transaction. Taking the business through a dry run diligence process, Knight’s transaction services specialists provided a number of recommendations to implement ahead of starting a formal process and to ensure the business was prepared for the transaction.
Leveraging its sector expertise, Knight ran a competitive sales process to a select number of parties. After attracting a number of offers, Babble emerged as the preferred buyer, valuing the similar profile of CMT’s client base and the business’ geographical location.
Firas Bilbeisi, Managing Director of CMT said “We engaged Knight initially to prepare ourselves and the business for a potential exit. The results and recommendations gave us confidence that that our price aspirations could be achieved. With Knight’s experience and sector knowledge, we were able to negotiate an agreement that met the expectations of all our shareholders. They professionally managed the process despite lockdown and were always on hand during the engagement”.
Adam Zoldan, Director of Knight commented “With over 120 deals successfully completed, our exit process continues to deliver maximum value for our clients. The process with CMT demonstrated the value that our Vendor Assist product brings to clients in preparing them for a transaction”.
The deal team comprised Adam Zoldan, James Caplan and Chris Collins.