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TFM Networks acquires Tru Solutions following £4.5 million in funding from Santander
UK-based IT and telecoms network service provider, TFM Networks, has recently acquired Derby headquartered Tru Solutions, a B2B mobile communications provider, after receiving £4.5 million of funding from Santander Corporate & Commercial.
Founded in 1995, TFM Networks is a leading provider of voice, data and IT network connectivity services to multi-site SMEs across the UK. The company builds customised private telecom networks and has developed its own Multiprotocol Label Switching (MPLS) network, designed to converge customers’ legacy voice and data networks on to a high performance single platform. The firm has expanded in recent years with the acquisition of Conexion Communications in 2012 and Waveworks in 2013, which has positioned the company for further organic and acquisition growth.
The £4.5 million funding from Santander has allowed TFM to complete the acquisition of Tru Solutions, a B2B reseller of mobile voice and data solutions to SMEs. This complimentary fit will allow TFM to offer an enhanced suite of products to an enlarged customer base and deliver transformational growth over the next few years.
Stewart Yates, Group Chief Executive, TFM Networks said:
We are extremely excited by the acquisition with Tru Solutions. The combined business now has a full portfolio of fixed, mobile, voice and data communications services to offer to our expanded business customer base, all with a single point of support and control. We look forward to adding to our portfolio of clients as the enlarged business holds the capacity for further expansion. The help and support that we have received from Santander to achieve our ambitions through this acquisition has been invaluable and we have enjoyed working with a group of people who really understand our business and want to help us to grow.
Martyn Drake, Director, Growth Capital, Santander Corporate & Commercial said:
We are delighted to have been able to support TFM in its latest acquisition, helping to further enhance the company’s product offering. We look forward to supporting Stewart and the team in achieving their growth plans over the coming years.
The transaction was led by Martyn Drake (Director) and Scott Douglas (Associate) from Santander. Gowling WLG advised Santander, led by Kirsty Barnes (Partner) and Sophie Coggan (Senior Associate).
