Key invest £5m supporting equity release to shareholders of Commhoist Logistics
Key has completed a £5m investment in specialist mobile telecoms logistics provider Commhoist Logistics (Commhoist). The Cheshire based company is the market leader in the provision of end to end managed logistics services to the mobile telecoms industry.
With their in-depth knowledge of the telecoms sector, Key very quickly gained an understanding of our business and the opportunity that is ahead of us over the coming years. This experience and support provided to the board will improve the quality of the business, help drive growth and add significant value to all shareholders.
Commhoist was founded over 20 years ago by current shareholders, CEO Bob Kerslake and Operations Director Dave Carsley. The company plays an essential role in the new build, upgrading, decommissioning and maintenance of core telecoms infrastructure, ranging from large scale mobile masts to smaller city centre base stations. The business has been involved in all previous roll-outs of core mobile infrastructure and finds itself perfectly poised to capitalise on the impending rollout of 5G.
Bob and Dave have built a fantastic business which has an enviable reputation in the market for the quality of its service and its expertise in the mobile telecoms market. Commhoist is superbly positioned to continue to grow and further broaden its services in a market that is set for explosive growth over the next few years. We very much look forward to working with the team and being involved in what should be a very exciting phase for the business.
The deal sees Key acquire a significant minority stake in the business that employs 70 staff. Both Bob Kerslake and Dave Carsley will remain in their current roles, being joined by Commercial Director, Wayne Brierley. James Hall, Managing Partner at Key, who led the investment team alongside Matt Tice, will also join the Board.
Sean Fitzgerald of Ward Hadaway provided legal advice to Key with Rob McCarthy of RSM providing financial due diligence. Commhoist and its shareholders were advised by Sonio Singh of Davis Blank Furniss with Peter Shaddick of EK Williams providing corporate finance advice.