Avondale oversees smooth sale of UK-based IT and Telecoms provider

Avondale Corporate is pleased to announce the successful sale of its client: Epsom, Surrey-based IT support and telecommunications network company, IntraLAN Group.

Avondale was originally instructed by IntraLAN’s directors to negotiate the sale of the company to a privately-secured bidder. However, when the parties were unable to agree terms, IntraLAN chose to withdraw from the sale and to review the situation.

At this pivotal juncture, they took the decision to appoint a professional M&A advisor to drive the project forward and take the business to a wider audience. Having been impressed with the Avondale team, the owners re-engaged the firm to source a suitable acquirer and to manage the sale from start to finish.

Led by Kevin Uphill and drawing on the company’s extensive research capabilities, Avondale generated initial expressions of interest from over 50 potential acquirers. Considerable interest was generated as parties reviewed the transaction and the bid that won was a strong offer from Eli Global, a renowned US private investment group with a proven track record of scaling up SMEs.

Avondale secured a high headline value in exchange for 100% of IntraLAN’s shares, and extremely favourable terms for the exiting directors. With a deal agreed, the transaction closed three months after the initial instruction. IntraLAN’s legal advisers for the transaction were Morrisons Solicitors LLP.

In acquiring IntraLAN, Eli Global adds a thriving business to its international network of investee companies. Two of IntraLAN’s directors will stay on in leadership positions under Eli Global’s ownership to help manage the transition, and to prepare the company for the next phase of growth. For IntraLAN, ownership by Eli Global means joining forces with a global business that will help to drive the IntraLAN offering.

Eric Keane, former CEO of IntraLAN, commented:

“Without Avondale’s careful guidance and project management, we could have ended up accepting a seriously devalued offer and fairly negative terms. Avondale persuaded us not to accept the original offer, and gave us the confidence – based on the firm’s track record and knowledge of our sector – to take IntraLAN to the wider market.”


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