This week in the ICT Channel

Every friday morning, Comms Dealer magazine rounds up the top channel news that broke during the week.

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In this week's news...

TalkTalk provides demerger and refinancing update

TalkTalk Group states it has made 'significant progress'?since its H1 2024 update towards demerging its network wholesale platform business and its residential broadband customer business, with these trading independently as PlatformX Communications and TalkTalk Consumer respectively from March 1st.

The two businesses have agreed with a long-term exclusive wholesale agreement for TalkTalk Consumer to access PlatformX.

The existing TalkTalk Holdings board will remain in place until the refinancing is complete. Sir Charles Dunstone will continue as Chair and Tristia Harrison DBE (pictured) as CEO until that time.

It also reports progress on plans to refinance the Group’s RCF facilities and senior secured notes with maturities in November 2024 and February 2025 respectively.

The Group has entered into an exclusivity agreement with a global financial institution for investment of new equity into Platform X.

Sky reported earlier this week that TalkTalk Group could enter exclusivity talks with 麦格理集团 , but TalkTalk does not confirm here the name of the financial institution.

TalkTalk is working with the same financial institution to raise new debt facilities on Platform from third party lenders.

A debt raise process on the TalkTalk Consumer business is also ongoing.

The Group hopes for total proceeds from the equity investment and third-party debt facilities to refinance the Group’s existing debt facilities in full.

Allseybrook takes ownership stake in Inform

Ellie Allseybrook , Business Development Director, has acquired a ten percent share in Inform Billing , following her ten-year anniversary with the business.

She joined the business as a part-time Marketing Manager when Inform Billing had a team of seven and served around 50 customers.

This investment elevates Allseybrook as a key stakeholder in the business alongside MD Shaun Bodsworth .

He said: "Ellie's impact on Inform Billing has been transformative. Welcoming her as a part owner of the business is a testament to her integral role in our growth."

Allseybrook added: "Becoming a part owner is a true reflection of the collaborative efforts and shared vision that drive our success."

Upcoming 'Channel Forecast' session....

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Flotek adds ￡3m to turnover with OES deal

Flotek Group Limited has acquired OES to bolster its regional presence in the northwest and north Wales.

The deal adds ￡3.1m turnover, 22 members of staff and experience in managed IT, cyber security, managed print, and web development.

Flotek Groups total turnover is now north of ￡10.5m, with over 80 individuals employed.

CEO Jay Ball said: “This acquisition will boost our regional growth, allow Flotek to enter the managed print and web business, and develop our provision for the legal sector.”

OES’s brand will be maintained and its management team, Wayne Jones , Peter Edwards , and Luke Murray , remain in their roles as MD, Head of Finance, and IT Manager respectively.

Jones adds: "We can now offer a broader range of services and use Flotek's resources to increase our reach in the region.”

Firstcom Europe names new Sales and Commercial Director

Firstcom Europe Ltd has appointed Mark Boden as Sales and Commercial Director to underpin “huge” expansion plans.

Boden brings over 25 years of industry experience including roles at Daisy and Azzurri Communications . He most recently served as Channel Director – North at Gamma .

In these roles Boden has worked across the breadth of the sector, from SMB to enterprise, selling both direct and indirect to range of partners.

Christian Bleakley , CEO of Firstcom Europe commented: “I’ve known Mark professionally and personally for many years and have long held the desire to bring his expertise to the business.”

Boden added: “I will build strong relationships with our customers, partners and suppliers and support our ambitious growth plans.”

Redsquid takes ESG lead with B Corporation certification

MSP Redsquid has joined a progressive group of ESG champions having achieved B Corporation certification following a two year campaign to improve the company's policies and practices on various aspects of sustainability and social responsibility.

The Herts-based MSP underwent a rigorous assessment process that evaluated its performance across five areas – governance, workers, customers, community and environment – scoring 93.6 points, well above the 80 points required to gain the certification.

B Corporations balance purpose and profit and raise the bar on social and environmental performance, transparency and accountability, and are legally required to consider the impact of their decisions on all stakeholders including workers, customers, suppliers, the community and the environment.

"This certification is a recognition of our commitment to create a positive impact for our stakeholders and to align our purpose and profits," stated Sohin Raithatha , CEO of Redsquid.

"We believe that being a B Corporation will help us attract and retain the best talent, enhance our reputation and trust with our customers and partners, and drive innovation and growth in our industry."

Raithatha noted that Redsquid will continue to monitor and report on its performance and impact and seek new ways to improve its operations and services in line with the B Corporation principles.

"We have embarked on a journey of continuous learning and improvement, and to collaborate with other B Corporations and stakeholders to create a more inclusive and sustainable economy," added Raithatha.

Thanks for reading, and we hope to see you back here next friday for the latest news update. Be sure to subscribe at the top of this newsletter to get your copy.