UK - AdEPT Telecom floats on AIM

The first days of trading showed a healthy demand and the stock (Ticker: ADT LN) closed at 160 pence, representing a 14% increase over the placing price. The company is currently valued at EUR 49.6 m.

Swiss-based Invision invested in the firm as lead-investor in May 2003 and held an 18% pre- IPO equity stake. Invision will remain one of the largest investors in AdEPT Telecom and plans to further support and back the company.

AdEPT is one of the UK's fastest-growing fixed-line operators and provides fixed-line calls, line rental and broadband to business and residential customers. Since starting activity in 2003, the group has acquired 11 smaller companies, taking an average of six weeks to turn each one around from breakeven to around 20% EBITDA profitability.

AdEPT almost matched its 2004-05 EUR 1.5m operating profit in the six months to September 30, when earnings before interest, tax, depreciation and amortisation reached EUR 1.2m on turnover of EUR 7m. For the fiscal year ending March 31 2007 the company forecasts EUR 6.1 m EBITDA on EUR 25.2 m in sales.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• UK / Ireland
• Technology