Private equity firm Gresham has agreed to back a management buyout of the telecoms business of UK-based utility services support group Spice plc.
Gresham will pay £32.8m for the Team Telecom Group (TTG) as Spice looks to make disposals to reduce debt….
Private equity firm Gresham has agreed to back a management buyout of the telecoms business of UK-based utility services support group Spice plc.
Gresham will pay £32.8m for the Team Telecom Group (TTG) as Spice looks to make disposals to reduce debt. It is also looking to offload its facilities and gas units.
The deal includes £7.3m of debt and other liabilities.
HSBC Leveraged Finance provided financing for the deal.
TTG has businesses in the UK and Australia, covering telecoms services, professional radio communications and engineering services.