Team Telecom Group


Jamieson Corporate Finance has acted as lead financial adviser to Spice plc on the proposed sale of its Telecoms Business, Team Telecom Group (“TTG”) to its Management Team backed by Gresham. The transaction is a Class 1 disposal and as such remains conditional on shareholder approval. The Management Team is led by existing Chairman, Peter Burridge and Chief Executive, Mike Norfield.

Jamieson were introduced to Spice and the Telecoms Business in Spring 2009 by Peter Burridge. TTG was considered non-core to Spice and JCF were approached to provide strategic advice on price, structure and execution potential for the sale of the business.   Following private equity interest, Jamieson were appointed to run a formal auction for the business on behalf of Spice, and to advise Management on their terms with each of the bidders.

“our brief to Jamieson was to deliver a fair outcome for all parties and, above all from a Spice perspective, minimise execution risk and maintain absolute confidentiality of the process throughout. We are pleased to say they delivered on all fronts”

Oliver Lightowlers, Group Finance Director

TTG designs, installs, supports, maintains and operates telecoms infrastructure assets around the world. The business is organised under three brands, being “Simoco”, “AirRadio” and “Indigo”, and encompasses both the wire line and wireless sectors and works in worldwide mission critical environments, such as utilities, aviation, defence and the emergency services.

“Getting deals done in the current environment is far from straightforward, so we are particularly pleased to have been able to deliver this disposal for Spice, one that represents the first major step in their strategy of focusing on their Supply and Utilities facing Distribution operations. The success of this process was due in large part to the hard work and dedication of the Management team and we wish them every success for the future”.

Stuart Coventry, Jamieson

“For Jamieson to credibly advise both Spice and management was a big ask and only possible due to the unusual circumstances of the deal. However our choice was fully vindicated by the quality of the outcome. Their specific experience in the Private Equity sector and overall professionalism throughout ensured that the right result was achieved for all parties. We would have no hesitation in working with the team at Jamieson again”

Peter Burridge, Chairman