Corporate Finance Deal - Dael Ventures Group

Mitie Group plc has acquired DAEL Ventures Limited, a leading provider of acquisition, design and construction (ADC) services in the UK for mobile telecoms infrastructure, for £15 million paid in cash. 

Bishop Fleming provides audit, accounting, tax and business consultancy in the UK, and helped to deliver the transaction for the DAEL shareholders, enabling the company to continue its ambitious plans to grow.

The acquisition will broaden Mitie's expertise in the fast-growing telecoms sector, delivering end-to-end service for its customers and giving Mitie market-leading capabilities.

DAEL Ventures, (together with its subsidiaries DAEL Telecom, JB Towers and JISTICS), is the UK arm of MAK Holding Limited, which is related to DAEL Group Netherlands.  DAEL Group Netherlands will continue to operate under its existing private ownership and is not part of the transaction.

Alongside ADC services, DAEL Ventures also provides specialist managed services of temporary mobile infrastructure to support the special events market, as well as bespoke structural engineering and design services for telecoms assets. 

DAEL’s customer base includes leading telecoms providers in the UK.  Revenue is expected to grow significantly as the telecoms industry gears up to establish a full 5G network of the next three to five years.

Andy Train, Managing Director, DAEL Telecom, and James Brennan, Managing Director, JB Towers, will join Mitie to create a new Telecoms business unit within Mitie's Technical Services division.

Mitie were advised by legal firm Mayer Brown LLP. 

The shareholders of DAEL were advised by BPE Solicitors LLP and Bishop Fleming’s Corporate Finance team.

Phil Bentley, Chief Executive Officer, Mitie, said:

"The acquisition, which is aligned with our new growth and margin enhancement strategy, provides us with the opportunity to broaden our scale and expertise in the fast-growing telecoms sector.  Mitie will now have market-leading capabilities, putting us in a strong position to take advantage of the growth prospects arising from the rollout of 5G in the UK." 

Bishop Fleming was crowned as ‘Business of the Year’ at the British Chamber Awards in 2019 and is currently ranked in the Top 30 in the Accountancy Age league table.