London, UK (Vocus/PRWEB) 1 March 2011
XLN Telecom, the London based telecom provider, announce the arrival of a Neil Conaghan as Chief Financial Officer. Neil joins XLN Telecom from KPMG Corporate Finance where he was Head of Telecoms. At a time of consolidation in the industry, Neil will work alongside the CEO, Christian Nellemann, on managing growth and helping to deliver the company’s acquisition strategy.
XLN Telecom was recently listed as #6 in the 2011 Sunday Times Buyout Track having posted a 100% profit increase from 2008 to 2010. The Sunday Times Buyout Track 100 league table ranks Britain's 100 mid-market private equity-backed companies with the fastest-growing profits (EBITDA) over their latest 2 years of available accounts.
In addition to KPMG, Neil has previously worked for HSBC Investment Bank and was a Senior Manager for M&A at Vodafone.
Neil Conaghan said:
“The telecoms industry is changing rapidly. Large incumbent players are declining in importance while the business provider market remains fragmented. XLN Telecom has excellent technology, a superior service platform and following its recent refinancing will be a major player in consolidating the market. I look forward to working with the team to make the most of all our opportunities.”
Christian Nellemann, Founder and Group CEO said:
“We have a profitable and scalable business with excellent investors and a superb management team. We plan to grow organically, by acquisition and through a range of new product and service introductions for the small business market. It’s an exciting time and XLN is a highly capable business. Neil will add significantly to our team and will enable us to add value rapidly.”
In September 2010 ECI Partners, a UK mid-market private equity firm, invested in XLN Telecom alongside management, acquiring a majority stake from Zeus Private Equity. The additional investment from ECI gives XLN considerable financial resources to act as a key consolidator in its market.
Tom Wrenn, who led the deal for ECI, said:
“XLN is a superb growth business in a sector that has performed strongly during the recent downturn. It is led by a high-quality management team that has a clear vision for the future. XLN has considerable scope to add more products and services and is in an excellent position to act as a platform for consolidation in the fragmented telecoms market. Neil will add significant expertise and will accelerate the growth strategy. We are delighted he has agreed to join.”
Find more details about the company at: http://www.xlntelecom.co.uk
About XLN Telecom
XLN Telecom Ltd. was founded by Christian Nellemann in 2002. It is located in London, United Kingdom and supplies business phone lines and business broadband to more than 120,000 customers. Deregulation of the UK Telecom’s industry has enabled XLN to offer an alternative phone service to BT™ at a considerably lower cost.
XLN is the fastest growing independent Telecom Service Provider in the UK focusing on the Small Business sector. The company is profitable and backed by a leading institutional investor.
XLN’s founder and CEO was first recognised as Ernst & Young’s Entrepreneur of the Year in 2006 for Technology and Communication, winning again in 2010. The Telecom Provider has also been a National Business Awards Finalist for 5 years: 2004, 2005, 2006, 2009 and 2010. In 2007 and 2008, XLN Telecom was ranked on the Sunday Times Tech Track 100 survey of the 100 fastest growing technology companies in the UK and won the Small- to Medium-sized Enterprise category of the 2010 Best Business Awards. In 2011 XLN was listed as #6 in the Sunday Times Buyout Track 100.
About ECI Partners
Originally founded in 1976 as Equity Capital for Industry, ECI is one of the longest established private equity groups in the UK. With offices in Manchester and London, and a team of 21 dedicated professionals, ECI specialises in buyouts, buy-ins and development capital deals of £10 million to £150 million.
ECI is owned by its team and manages private equity funds with a capital base of over £880 million and has provided funds for over 250 companies.
In December 2008 ECI raised ECI 9, a £437 million fund and ECI’s ninth buyout fund. This fund exceeded the original £400m target in just three months with over 90% of the capital being committed by existing ECI investors.
ECI’s other notable investments in the Software and IT Services sector include Ascribe, Clinisys, ClarityBlue, GK Communications, Language Line, MM Group, NCC, OSI and Guardian iT.