A 3 million-turnover Sheffield-based business which has provided specialist wireless and telecoms infrastructure services in locations including Buckingham Palace and Downing Street may be acquired inside a management buy-out.
21 yr old ITI Network Services, headquartered in Sheffield’s Aizlewood’s Mill, has become bought in the MBO led by current Managing Director, Jason Denmark, and backed by NatWest. The Templand Group, setup by Jason Denmark and Steve Clarke, became 100% who owns ITI Network Services in a very deal concluded on Friday 10th June.
Allan Milburn, founding father of ITI and outgoing leader, said: “In the 21 years that we were running ITI, the telecoms industry is promoting considerably as technology have evolved. In this time, ITI’s fantastic team of dedicated staff have helped this company to turn into genuinely world-class and highly respected, and I happen to be going to leave this business inside the greatest position for future sustainability, and also to obtaining a new owner with the commitment and skills to steer the ITI into its next phase.
“I’m delighted that Jason and Steve have led this management buyout being the newest owners of the company. Their investment to the business and ambitions for sustainable growth will dsicover ITI alternate from strength to strength.”
Jason Denmark, Managing Director of ITI Network Services and Us president on the Templand Group, said: “It’s been a privilege to get portion of the business and help steer its path through several changes throughout the last 1 year, and i’m absolutely thrilled to possess concluded our management buyout.”
He added: “This management buyout brings new investment in to the business, and now we have exciting plans for future business acquisitions and expansion in the telecoms and electrical contract markets. Good quality for an exciting new chapter for ITI as well as Templand Group.”
The acquisition may be funded by NatWest, Steve Clarke and Jason Denmark.
