Espira acquires Icon

Espira is currently investing from its Espira Fund I, which held a first close on €15m in 2017. The fund invests €1-3m in central European SMEs.

Icon's executive team will continue to manage operations and a supervisory board for strategic oversight will be established. Eric Ignoul, who is a member of the Aloa International advisory board and was previously a board member at BP Holding, will join the board.

Icon was acquired from the joint administrators of former energy broker Utilitywise, an AIM-listed company that went into administration in February 2019.

Following the transaction, Icon will maintain its core operations in Prague and will consider acquisitions if opportunities arise.

Company
Founded in 2003, Icon is based in Prague and outsources contact centre services. The company's team of nearly 300 contact centre employees communicate with customers through interactive voice recordings, email, text and over the phone in 30 languages.

People
Espira Investments – Andrea Ferancová Bartoňová (founding partner); Emilia Mamajova (founding partner).
Icon Communications Centres – Helen Hickin (managing director).

Advisers
Equity – CMS (legal); EY (financial due diligence, tax).

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• EY (Ernst & Young)
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