SPECIALIST EX-PAT TELECOM SERVICES COMPANY
Established in 2003, this UK based telecoms reseller services a base of a 2,000 English expats living in or with 2nd homes in France (as well as a pipeline of approximately 200 prospective clients).
The Company provides a bespoke tailored package to each customer and liaises with the French telecoms provider to arrange for the installation of the services which the company bills monthly and receives payment by direct debit. Customers are tied into 12 month contracts which continue to roll on at the end of this period. The average period of time that customers have used the services of the Company is between 7 and 10 years.
Customers are currently billed up to €96 per month across a variety of products with the average invoice being €48pm. In addition. approximately 1,000 customers rent a modem form the Company at an additional cost of €3 per month. Customers must give 30 days’ notice to terminate their contract. In return for the providing the services, the Company pays a fee to the French telecom provider for the services it provides to the ex-Pats.
Unfortunately, however, the Owner/Director passed away in August 2019 and whilst the business continued to operate through his wife, this was only ever going to be on a short-term basis whilst she sought a buyer for the business. Fruitful negotiations did commence with a 3rd party but, as a result of Covid-19, the buyer has pulled out of the sale and with a reduction in turnover as a result of the pandemic, the current Owner/Director has decided that she does not want to continue operating the business as its ongoing losses are increasing and has decided to appoint Administrators to oversee the orderly wind down of the Company. Simultaneously, Williams & Partners Ltd has been engaged to find a buyer for the business and goodwill out of administration as a going concern.
If you are interested to know more about the above opportunity, we are able to offer a short period to undertake a limited amount of due diligence as well as the short-term assistance of the Director in any handover. However, please note that offers must be received by no later than 12:00pm on Friday 11 December 2020 with a sale concluded by no later than close of business on Friday 18 December 2020 and therefore only parties that are able to work within this time frame should respond. Williams & Partners Ltd reserve the right to close the bidding early or extend the deadline, without liability.
Preference will be given to companies currently within the telecoms reseller/services industry as we would consider that knowledge of the industry is essential to the future success of the business.
NB: As the business is based in France, you may consider it essential to have someone able to speak fluent French as it will be necessary to liaise with the French telecom service provider on a very frequent basis.
Due to the confidential nature of this sale, interested parties will be invited to sign a non-disclosure agreement before further details can be released.
If you are interested in finding out more about the above opportunity, please contact Antony Berg of Williams & Partners Ltd, Valuation and Insolvency Agents on 020 3195 1407 or 078 0303 5445 or write to me at firstname.lastname@example.org.