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South West technology success story acquired by overseas buyer

Exeter-based tech firm WiFi SPARK is aiming to accelerate its growth plans after being acquired by Kinetic Solutions Limited, a UK subsidiary of the Volaris Group.

WiFi SPARK is the leading specialist in providing commercial WiFi solutions across a range of sectors, including healthcare, transport and retail from shopping centres to stadiums, rail networks, hospitals and large venues.

The corporate finance team at PKF Francis Clark and corporate legal team at Foot Anstey have advised WiFi SPARK’s shareholders, headed by managing director Matt O’Donovan, on the sale of the business.

Canadian-headquartered Volaris Group is an active acquirer of technology companies in a diverse range of vertical markets and is globally ranked as a Top 50 lower middle market software investor.

Matt O’Donovan said: “I am very excited about the future for WiFi SPARK and look forward to further driving the business forward alongside the team at Volaris. I believe that the Volaris Group will further strengthen the offering and create significant opportunities to the benefit of all our customers and people.

We are very grateful for the expert advice and guidance provided by PKF Francis Clark and Foot Anstey throughout the process.”

PKF Francis Clark’s team comprised Andrew Killick and Matt Willmott.

Andrew said: “We have worked with WiFi Spark for many years, and are delighted to have assisted them on the sale of the business.

This is a fantastic example of a post Covid lockdown deal where we are seeing active acquirers looking for strategic purchases of high quality businesses.

“This transaction demonstrates that companies with strong fundamentals, and in sectors that have not just survived but thrived, are still undertaking transactions and provide opportunities for shareholders to realise value. For many business owners it could be that now is the right time to be thinking about future exit plans, especially in light of potential Capital Gains Tax changes.”

Foot Anstey’s team comprised Duncan Sykes, Dan Schofield and Dominic Cromwell.

“As long-standing advisors to WiFi SPARK it was fantastic to help deliver the transaction with PKF Francis Clark and enable shareholders to achieve their goals,” said Duncan. “We look forward to watching the business continuing to thrive within the new group.”

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