An infrastructure companies supplier backed by one of many world’s largest buyout companies is in superior talks to purchase rival Telent for about £270m.
As soon as a part of Marconi, one in all Britain’s most well-known industrial names, Telent ended up underneath the management of JC Flowers, the non-public fairness agency, as a part of a deal involving Pension Insurance coverage Company, the specialist insurer, a number of years in the past.
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It supplies a spread of companies to telecoms and different communications suppliers.
M Group has seen off competitors from Amey, the outsourcing group backed by Lord Hammond, the previous chancellor, to safe its exclusivity interval, with a proper supply anticipated inside days.
Folks near the state of affairs cautioned, nevertheless, that there was no certainty {that a} deal could be reached.
At the very least one non-public fairness bidder additionally submitted an indicative supply for Telent, they added.
Telent is run by Jo Gretton, who was a part of its founding administration group in 2006, having beforehand labored for Marconi.
Amongst its contracts is one it was awarded by IBM to play a job within the deployment of the brand new Emergency Providers Community throughout the UK.
CVC declined to remark, whereas Telent couldn’t be reached for remark.
