KBS Corporate Oversees the Acquisition of Reliance Networks
Reliance Networks, established in 2003, is a specialist provider of the design, installation and support of communication solutions. The Macclesfield based company has developed an excellent reputation which has resulted in high levels of repeat customers.
Reliance Networks instructed KBS Corporate with the sale of their business in order to facilitate the retirement plans of one of the shareholders.
KBS Corporate implemented a diverse research strategy which resulted in over 40 interested parties coming forward. Significant interest came from trade with the successful offer coming from telecommunications company Radius Payment Solutions.
Radius Payment Solutions has recently been ranked 19th in the 2019 Sunday Times HSBC Top Track 100 list, with a turnover of £2.5 billion in 2019. The acquisition acts as the company’s seventh in as many weeks and is part of their diversification plans.
Bill Holmes, Chief Executive of Radius, added: “Reliance Networks is a great addition to Radius, and this acquisition highlights our intention to quickly develop our telecoms offer. Our diversification strategy across the group means we can provide a compelling range of products across telecoms, telematics, insurance and fuel cards. We welcome Reliance Networks to Radius, and we look forward to working with the team.”
Sean Gooding, Managing Director of Reliance Networks, said: “We are extremely proud of the success we and the team have achieved over the last 15 years. Trusted service delivery is our core strength – this attribute has enabled us to form strong and lasting relationships with our clients whilst providing them with best in class solutions. Joining forces with Radius will enable us to build on this solid foundation whilst considerably enhancing our product and services offering, both to our existing and new clients. We are all very much looking forward to the next chapter.”
KBS Corporate’s Associate Corporate Director, Tom Eatough, advised Reliance Networks throughout the process.