UK telecoms provider XLN Telecom has appointed Neil Conaghan as CFO. Conaghan joined from KPMG Corporate Finance, where he was Head of Telecoms. Prior to that, he has worked at HSBC and on Vodafone’s M&A team.
He will work alongside CEO and chairman…
UK telecoms provider XLN Telecom has appointed Neil Conaghan as CFO. Conaghan joined from KPMG Corporate Finance, where he was Head of Telecoms. Prior to that, he has worked at HSBC and on Vodafone’s M&A team.
He will work alongside CEO and chairman Christian Nellemann to implement the company’s acquisition strategy, XLN said. According to Nelleman “We plan to grow organically, by acquisition and through a range of new product and service introductions for the small business market.
Commenting on his appointment, Conaghan said: “The telecoms industry is changing rapidly. Large incumbent players are declining in importance while the business provider market remains fragmented. XLN Telecom has excellent technology, a superior service platform and following its recent refinancing will be a major player in consolidating the market. I look forward to working with the team to make the most of all our opportunities.”
The company saw its profits rise by 100% 2008 between 2008 and 2010, and ranked number six on The Sunday Times’ Buyout Track 100 league table of the UK’s top 100 mid-market private equity-backed companies with the fastest-growing profits (EBITDA) over their latest 2 years of available accounts.
Private equity firm ECI Partners and XLN’s management acquired a majority stake from Zeus Private Equity in September 2010.
ECI’s Tom Wrenn said: “XLN has considerable scope to add more products and services and is in an excellent position to act as a platform for consolidation in the fragmented telecoms market”.
XLN was founded by Nellemann in 2002.