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Oakley Advisory Limited (“Oakley”), the independent corporate finance firm offering specialist advice across the TMT sector, is pleased to have advised Manx Telecom plc (“Manx”) on its recommended cash acquisition by Basalt Infrastructure Partners (“Basalt”). Oakley acted as Rule 3 and lead financial advisor to Manx on the transaction.

Manx is the leading Isle of Man-based communications solutions provider, providing a wide range of fixed line, broadband, mobile and data centre services to retail, business and public sector customers on the island, as well as a growing portfolio of innovative hosting and “Smart SIM” solutions to global customers.

Manx is the only operator of a Fixed Line network in the Isle of Man and is currently investing in state of the art 1 Gbps Fibre-to-the-Premise (“FTTP”) broadband for both its consumer and business customer base. Manx is strengthening its core market position whilst exploring new market opportunities on and off-island, leveraging its telecommunications expertise and mobile technology platform.

Basalt anticipates supporting Manx through its next phase of capital investment, which includes funding FTTP, Manx’s commitment to Vannin Ventures and the future requirement of a 5G network roll out.

The Oakley team was led by Chris Godsmark and Marc Jones and included Phoebe Orr, Max Gilbert and Sarthak Sawlani.

Manx CEO Gary Lamb said:

“The Oakley team have been a pleasure to work with, not only on this transaction but since our IPO. They have supported us throughout the journey as a public listed company, providing knowledgeable advice and being committed throughout. I would like to thank the Oakley team for all their efforts.”

Chris Godsmark, joint Managing Partner at Oakley, commented:

“Manx has been a long-term client for Oakley and we have been delighted to have worked with Board and the management team since the IPO on AIM in January 2014. This acquisition provides a successful result for shareholders and allows the business to focus on long term strategic investments. The transaction again demonstrates our capability and expertise involving listed companies and also in telecoms infrastructure. We acted as lead financial advisor providing Rule 3 advice on the financial terms of the offer, and guidance on the application of the Takeover Code.”

Oakley Advisory Limited (“Oakley”), the independent corporate finance firm offering specialist advice across the TMT sector, advised G3 Comms (www.g3comms.com) on an investment by Apiary Capital (www.apiarycapital.com), a UK private equity firm which closed its maiden fund at £200m in June 2018.

G3 provides communication and connectivity solutions to medium-sized, multi-site UK enterprises, often with international operations. The company provides a broad range of telephony services from traditional systems through to newer cloud-based unified communication technology. In addition, the business benefits from a global data network powered by a proprietary aggregation and routing platform which underpins the telephony services as well as complimentary connectivity products.

Oakley acted as sole financial advisor to G3 Comms. The Oakley team comprised Christian Maher, Managing Partner, James Chapman-Andrews, Managing Director, Marc Horn, Director and Sarthak Sawlani, Associate.

Oakley Advisory Limited (“Oakley”), the independent corporate finance firm offering specialist advice across the TMT sector, is delighted to have advised Tax Systems plc (“Tax Systems”) on its recommended acquisition by Bowmark Capital, which completed today. Oakley acted as Rule 3 and lead financial advisor to Tax Systems.

Tax Systems is a leading provider of corporation tax software and services in the UK and Ireland. Its portfolio of solutions automates the end-to-end tax compliance process, enabling the company’s clients to increase the accuracy of their tax reporting, reduce the risk of non-compliance and free up the tax function to focus on value-adding tasks. Clients include a large proportion of the FTSE 250 and 23 out of the top 25 accounting firms. The acquisition values Tax Systems at approximately £114m.

The Oakley team was led by Chris Godsmark, Managing Partner and Marc Jones, Director. They were supported by Max Gilbert, Associate, Sarthak Sawlani, Associate, and Guillaume de Kerhor, Analyst.

Tax Systems’ CEO Gavin Lyons said:

“It has been an absolute pleasure working with the Oakley team to execute this public to private management buy-out backed by Bowmark. Marc and his team proved to be supportive, knowledgeable and committed.”

Marc Jones, Director at Oakley, commented:

“We are extremely pleased to have advised the board of Tax Systems on the recommended acquisition by Bowmark. Our engagement, which included providing Rule 3 advice on the financial terms of the offer, is a further demonstration of our capability in deals involving listed companies. We are seeing a growing interest in public to private transactions across all sectors, including our core TMT franchise.”

Oakley Advisory Limited (“Oakley”), the independent corporate finance firm offering expert specialist advice across the TMT sector, has advised Zegona Communications plc (“Zegona” or the “Company”) on its £100.5m placing of new equity with global institutional investors.

The proceeds of the placing will enable Zegona to increase its ownership position in Euskaltel SA (“Euskaltel”), the leading telecommunications group in northern Spain.

The Oakley team, comprising Christian Maher and Victoria Boxall, acted as Financial Advisor and Co- Bookrunner on the deal.

Victoria Boxall, Director, Oakley, commented:

We are extremely pleased to have had the opportunity to advise Zegona on its latest equity fundraise. We are particularly proud to have successfully completed this transaction, which is one of the largest placings completed in the London market in recent months

Oakley Advisory Limited (“Oakley”), the independent corporate finance firm offering specialist advice across the TMT sector, is pleased to have advised Just Eat plc on its acquisition of Flyt Limited.

Flyt is a leading software platform that helps restaurant groups and restaurant suppliers globally to install point of sale (“POS”) integrated services that improve their customers’ experience and their own operational efficiency. Flyt’s technology removes the need for manual restaurant processes, reduces driver hold times in restaurants and eliminates the need for many customer-care contacts and costs.

Founded in 2013, Flyt has been a pioneer in game-changing technology for the hospitality industry. Flyt works with over 3,000 quick service and branded restaurants, including some of the UK and world’s largest brands such as KFC, Tim Hortons, Mitchells and Butlers, Pizza Express and Nando’s.

Just Eat is a current customer of Flyt and became a minority shareholder in the company in 2016 with an 8% stake. The acquisition enables Just Eat to further invest in Flyt’s technology and offer Flyt’s services to more of its restaurant partners globally. Just Eat customers will benefit from the growth in choice that this enables and an even smoother ordering experience. It will help deliver Just Eat’s ambition to work with a much wider range of Quick Service Restaurants and Branded Retail Groups both in the UK and globally.

The Oakley team was led by Christian Maher, Managing Partner and included Christian Craggs, Managing Director, Marc Jones, Director, and Max Gilbert, Associate.

Christian Maher commented:

We are delighted to have supported Just Eat on this transaction. Flyt’s leading technology will help Just Eat further deepen its partnerships with leading restaurant groups, in turn enriching the choice and service levels it delivers to end customers. Oakley has enjoyed a long relationship with Just Eat, including assisting with its successful IPO in April 2014, and the acquisition of SkipTheDishes in December 2016.