Benchmark International is pleased to announce the acquisition of Middlesbrough-based Doocey North East by Swedish group Netel.
Doocey North East is a specialist utility services provider delivering contract services for telecommunications and fibre-optic networks. Works include the installation of ducts, micro-ducts, access chambers, street cabinets, fibre optic cable installation for local authorities and major private clients. Employing 15 people, in 2020/21 the company recorded net sales of approximately £6.5m.
Founded in 2000, Netel is a leading specialist in critical infrastructures in Northern Europe, carrying out projects as well as services and maintenance for the industry's largest players in power, telecommunications, heating, and water and sewage. The business has a strong local presence via 18 offices and has approximately 660 employees. In 2021, Netel had sales of more than SEK 2.4 billion.
The acquisition marks Netel’s second in the UK within two months as the group rapidly continues its expansion in the growing British fibre market.
Charlie Doocey, CEO of Doocey North East, commented: “We have a strong order backlog for coming years and see continued good opportunities to grow with new and existing customers. Being part of the Netel Group gives us additional strengths and the ability to win bigger contracts.”
Ove Bergkvist, President and CEO of Netel, said: "With the acquisition of Doocey, we are broadening our presence and offering in the attractive UK infrastructure market. We see more opportunities for expansion in the British market for critical infrastructure in fibre, power, district heating, water and sewage as well as associated civil engineering work.”
Europe: Michael Lawrie at +44 (0) 161 359 4400 / Enquiries@BenchmarkIntl.com
Americas: Sam Smoot at +1 (813) 898 2350 / Smoot@BenchmarkIntl.com
Africa: Anthony McCardle at +27 21 300 2055 / McCardle@BenchmarkIntl.com
ABOUT BENCHMARK INTERNATIONAL
Benchmark International is a global M&A firm that provides business owners with creative, value-maximizing solutions for growing and exiting their businesses. Benchmark International has handled over $8.25 billion in transaction value across various industries from offices across the world. With decades of M&A experience, Benchmark International’s transaction teams have assisted business owners with achieving their objectives and ensuring the continued growth of their businesses. The firm has also been named the Investment Banking Firm of the Year by The M&A Advisor and the #1 Sell-side, Privately Owned M&A Advisor in the World by Pitchbook’s Global League Tables.