Addleshaw Goddard (AG) has advised the UK arm of technologies group Solutions 30 in a rescue deal for the business of Mono Consultants which will reportedly safeguard every job at the Glasgow-headquartered telecoms service provider.
Mono is “one of the largest” telecommunications infrastructure providers in the fragmented UK market. The impact of Covid on working practices and activity levels “proved challenging” for the company despite its “strong historic performance and future prospects”, said AG.
The pre-packaged acquisition, “enabled by Mono’s growth potential, reputation and order book”, will reportedly allow the business to “come back stronger” as part of the Solutions 30 Group, alongside its existing ‘Comvergent’ business.
The AG Restructuring team was led by Tim Taylor and included Barry Davies, Jason Scott, Emma Widdowson, Jawad Ilyas, Elizabeth Oakley and George Bird.
Additionally, Katy Stevenson from Data Protection and Florence Millar from Employment provided additional support.
Taylor said: “The aftermath of the pandemic is still being felt in a number of sectors, but this deal demonstrates how a business with strong fundamentals can attract the right purchaser to emerge stronger from the challenges of the last 18 months.
“There are a number of reasons why Mono’s business is a great fit for Solutions 30, and the business can now thrive as the market rebounds.”
He added: “Crucially, we are delighted to have been able to offer our help and expertise to preserve Mono’s business and all 165 jobs.”