Press Release 3 May 2022 Mitie expands mobile telecoms capability with the acquisition of 8point8 Mitie Group plc (“Mitie”) announces today that it has acquired 8point8 Support Limited, 8point8 Training Limited and Vantage Solutions Limited (collectively “8point8”), a leading provider of design and construction services in the UK, predominantly for mobile telecoms tower infrastructure. Total consideration is £10m and the acquisition will be accretive to earnings and funded through existing facilities. With the growing demands of the 5G rollout, network upgrades and passive infrastructure investment, Mitie’s strategy is to build a leading Telecoms Support Services company, providing acquisition, design and construction (ADC) services, and maintenance to the mobile telecoms tower infrastructure sector. Following Mitie’s recent acquisitions of DAEL Ventures UK and P2ML Limited, integrating 8point8 into its telecoms division will give Mitie greater capacity to self-deliver additional end-to-end services. 8point8 also includes two associated businesses, 8point8 Training – an industry leading training provider – and Vantage Solutions – a specialist contract lifting business. Together, these capabilities will provide Mitie with the opportunity to set the standard in health and safety for the industry whilst adding the capacity to increase self-delivery of critical services. For the 12 months ended 31 December 2021, 8point8 generated combined revenues of £18.3m and profit before tax of £0.6m, with gross assets of £6.2m. Performance since 31 March 2021 has seen 8point8 make a strong recovery from the significant operational disruption associated with the COVID pandemic. Highlights Revenue is expected to grow significantly as the mobile telecoms industry gears up to establish a full 5G network over the next 3-5 years and replaces the installed Huawei infrastructure.8point8’s key customers include some of the UK’s leading mobile telecoms operators and will expand our existing portfolio.The consideration of £10m will be paid in cash and will be funded from existing facilities.The management of 8point8 will be joining Mitie Telecoms and Sam Storer, currently MD of 8point8, will be appointed Chief Commercial Officer of Mitie Telecoms.The transaction is structured as an acquisition of three separate legal entities 8point8 Support Limited, 8point8training Limited and Vantage Solutions Limited. Andy Train, MD Mitie Telecoms, said: “The acquisition of 8point8 substantially increases our capacity within the fast-growing mobile telecoms sector and adds another well-respected team to the Mitie Telecoms business. We are now one of the largest Telecoms Support Services businesses in the UK, with strong capabilities to support all aspects of cell site acquisition, design, construction and ongoing site maintenance, allowing us to better serve our existing customers and to continue to add new clients as the rollout of 5G in the UK gathers pace.” Read next Press Release 3 October 2022 Mitie hits all annual ESG targets putting it on track to meet 2025 goals 2022 ESG report released detailing how Mitie hit all 13 ESG targets for the year, putting Mitie on track to meet its overall 2025 ESG goals Environmental highlights include saving customers 375,000 tonnes of… Read More Press Release 27 September 2022 Broadcaster extends facilities management contract with Mitie The BBC has extended its facilities management contract with Mitie for a further two years 780 colleagues work on the contract, delivering a range of integrated FM services for the broadcaster’s sites including its… Read More Press Release 12 May 2022 Andy Burnham unveils Mitie’s new northern technology hub Mitie has unveiled its new Technical Services Operations Centre (TSOC) in Wythenshawe, Greater Manchester, showcasing its cutting-edge workplace technology Officially opened by Andy Burnham, Mayor of Greater Manchester, the TSOC is Mitie’s new Hub… Read More Press Release 28 April 2022 Mitie showcases latest innovation with the launch of its Cleaning and Hygiene Centre of Excellence • Mitie has launched its new Cleaning and Hygiene Centre of Excellence, to showcase the latest innovation in cleaning science and technology• Made up of six Zones, the new Centre in Birmingham demonstrates best… Read More See Resource Archive
Press Release 3 October 2022 Mitie hits all annual ESG targets putting it on track to meet 2025 goals 2022 ESG report released detailing how Mitie hit all 13 ESG targets for the year, putting Mitie on track to meet its overall 2025 ESG goals Environmental highlights include saving customers 375,000 tonnes of… Read More
Press Release 27 September 2022 Broadcaster extends facilities management contract with Mitie The BBC has extended its facilities management contract with Mitie for a further two years 780 colleagues work on the contract, delivering a range of integrated FM services for the broadcaster’s sites including its… Read More
Press Release 12 May 2022 Andy Burnham unveils Mitie’s new northern technology hub Mitie has unveiled its new Technical Services Operations Centre (TSOC) in Wythenshawe, Greater Manchester, showcasing its cutting-edge workplace technology Officially opened by Andy Burnham, Mayor of Greater Manchester, the TSOC is Mitie’s new Hub… Read More
Press Release 28 April 2022 Mitie showcases latest innovation with the launch of its Cleaning and Hygiene Centre of Excellence • Mitie has launched its new Cleaning and Hygiene Centre of Excellence, to showcase the latest innovation in cleaning science and technology• Made up of six Zones, the new Centre in Birmingham demonstrates best… Read More