Elite Telecom picks up TRS
Shropshire-headquartered Tariff Reduction Services (TRS) has been bought by Elite Telecom for a six-figure sum.
The acquisition of the fixed line and mobile provider adds 420 new customers to Chorley-based Elite's portfolio.
Elite Telecom said the buy – its third of the year – will add £1.4m to its revenues.
Matt Newing, chief executive of Elite, said: "The acquisition of TRS will allow us to continue our growth plan, build on our existing services and offer an enhanced Elite experience for our customers.
"We will be working towards our overall growth strategy which is achieved organically and through growth by acquisition."
The latest acquisition follows deals to buy Cardiff-based XL Networks in July and London-based company Liquid Business Services at the end of September.
Elite reported revenues of £17.4m in the year to 31 July 2010 and a pre-tax profit of £1.5m. Its clients include Air France, Intercontinental Hotels and a number of Premier League football clubs.
