Clearwater has advised Equistone-backed WHP Telecoms Limited (“WHP”) on its acquisition of Redhall Network Solutions (“Redhall”) from Enact Fund II (“Enact”).
Headquartered in Warrington with seven offices and workforce of c.700 people, private equity-backed WHP is a market leading provider of infrastructure support and deployment services to the UK telecommunications industry. WHP works closely with all the key parties in the industry offering a complete range of in-house, multi-disciplinary capabilities.
Redhall Network Solutions is a leading service provider to the mobile telecommunications and broadcast sectors providing service, maintenance and upgrade capabilities to the mobile phone infrastructure, in addition to the commissioning and integration of 2, 3, 4 and 5G networks. Based near Chesterfield, Derbyshire, the business employs highly skilled engineers who provide specialist services to the Mobile Network Operators and telephony infrastructure providers. Enact acquired Redhall in 2019 following the insolvency of its parent company Redhall Group Plc, supporting the MBO by the founding management team of Gavin and Simon Rabbitt.
Equistone Partners Europe (Equistone) completed the management buyout of WHP in 2018 in a deal advised by Clearwater, and set out a strategy to grow organically and through strategic acquisitions. Under the leadership of CEO Rob Potter, WHP made its first acquisition in December 2019 of project management company providing end-to-end solutions for the UK’s mobile and fixed line network operators Sitec Infrastructure Services Ltd, also advised by Clearwater. The merger created a group with a turnover in excess of €117m (£100m), in addition to providing a platform for WHP to enter the fast growing and dynamic fibre market.
Clearwater supported WHP with corporate finance and debt advisory services on the transaction, which provides WHP the opportunity to in-source market leading maintenance and update capabilities, further strengthening its position in the sector.
