HighNet | Knight


Advised the shareholders of HighNet on its sale to Focus Group

Knight Corporate Finance, the boutique adviser for the technology and telecoms industry, is delighted to announce its 125th transaction, having advised the shareholders of HighNet on its sale to Bowmark Capital backed Focus Group.

Based in Inverness, HighNet was founded by Dave Siegel Senior and has more recently been led by Dave’s son David Siegel Junior and his management team. One of Scotland’s leading telecoms resellers, HighNet provides connectivity and unified communications solutions to SME customers via its partner base, leveraging its UK network infrastructure. The acquisition adds to Focus Group’s growing presence in Scotland.

David Siegel Jr, Managing Director at HighNet said “we have worked with Knight over a number of years and when we were approached by a potential acquirer, we wanted to make sure that we fully understood our options,. After engaging with Knight, they found us a deal that allowed my father Dave to retire from the business he founded over 25 years ago whilst allowing myself and the management team to continue running HighNet on a day to day basis with an on-going equity interest”.

Knight has enjoyed a busy start to the year, having advised on 3 trade sales, 1 re-financing and 2 transaction services projects in the ICT sector.

Paul Billingham, Director at Knight Corporate Finance, who led the transaction with Associate Director James Caplan, commented “we are delighted to have found a transaction for HighNet that could deliver on both valuation expectations and also deal structure, and we look forward to seeing the team and business develop further as part of Focus Group. There continues to be a high level of transactional activity in the ICT sector, driven by continued institutional investment into the sector and founders concerned about potential capital gains tax rises”.

Adam Zoldan, Director at Knight Corporate Finance added “after 125 deals this demonstrates the strength and resilience of the UK technology and telecoms sector. It is a seller’s market at the moment, and this deal is a perfect example of why you should always consider all of your options, especially when approached by a potential purchaser".