Headquartered in Chepstow, TXO Systems employs about 120 staff serving more than 1,000 customers globally with Virgin Media, BT, Telefónica and AT&T among some of its long-term clients. MMX Communications works with clients operating in market sectors where high technology telecommunications assets are employed. The deal creates a combined business with an annual turnover approaching £40m and 225 employees operating across five continents, from offices in the UK, Brazil, the US and Australia. The services provided by MMX are complimentary to TXO and bringing the customer offer together gives TXO a unique position in the market.
We provided full-service assistance to TXO, carrying out legal due diligence, negotiating and structuring the transaction and managing its completion, all within the parties’ 8-week timetable.
Philip Barratt, Senior Associate, and Kellsey Logue, Solicitor, led the acquisition on behalf of Capital.
Philip said:
This acquisition provides TXO with not only a great opportunity to grow the business but also evidence that it can negotiate and execute a deal promptly and effectively. It was great to work with Darren and Simon on this acquisition – in MMX Communications, TXO has acquired a great business which will provide TXO with a platform to build even further and we look forward to working with TXO as they continue to grow.
Darren Pearce, Group CEO of TXO, said:
This acquisition is important to TXO as it presents significant opportunities for continued growth and marks the start of a new chapter in our success story. Phil, Kellsey and the rest of the team at Capital Law provided excellent, commercial advice and guidance, and played a critical role in enabling us to execute this transaction efficiently and on time. We look forward to continuing our relationship with Capital Law and calling on their expertise as the business develops.
