TXO Systems Boosts Growth With Acquisition of MMX Communications
CHEPSTOW, Wales, June 4, 2019 /PRNewswire/ -- TXO Systems, a global market leader in telecom asset management, has increased its range of multidisciplinary services and expanded into new sectors with the acquisition of MMX Communications.
The deal creates a combined business with an annual turnover approaching £40 million and 225 employees across a network of six offices in the UK, US, Brazil and Australia. The acquisition complements TXO Systems' expertise in the supply of multi-vendor telecoms network equipment, by adding MMX Communications' specialist support services into its group capabilities.
Established in 2010, MMX Communications is one of the largest privately-owned specialists in support services to the UK communications sectors. From its HQ in Solihull its 80-strong team provide a unique combination of telecoms repair, field-based support (Field Force) and spare parts management services (SPMS) to its extensive customer base, which includes the likes of Virgin Media, major UK utilities companies and National Air Traffic Services (NATS), among others. The company is also known for its expertise in the telecoms, utility, public and oil and gas sectors.
The deal follows a period of sustained year-on-year organic growth for TXO, driven by international expansion and a global customer base.
The synergies between the two businesses present significant opportunities for continued growth and the acquisition marks the start of a new chapter in TXO's success story, says Group CEO Darren Pearce:
"Our clients will benefit directly from our expanded services."
"In MMX we've found a professional, well-respected and successful business that has a deep knowledge of the industry and a shared passion for delivering quality. The technical expertise within its team is impressive and its services are complementary to ours, which together bring a new dimension to our customer offer and gives us a unique position in the market. We're excited about what these new capabilities mean for our customers and the growth of the market."
TXO is key to the circular economy in the telecoms sector. Through its services it greatly extends the lifetime of telecoms equipment. Its asset management services ensure there is a market for used network equipment. Every year, well over half a million telecoms parts are sustainably acquired, redeployed, resold and recycled by TXO. The addition of MMX's operations, which include repair services, completes the circular economy loop.
MMX will continue to operate under its well-known brand name as part of the wider TXO Systems Group.
SOURCE TXO Systems
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