CANCOM acquires Novosco for £70m

Key Takeaways

CANCOM Group has opened its first UK office and has made its inaugural acquisition in the UK by acquiring Novosco Group, a Belfast-based company.

The acquisition is seen as a strategic move to enhance CANCOM's capabilities, as Novosco's product portfolio complements CANCOM's offerings and customer base.

Prior to the acquisition, Novosco Group was projected to generate revenues of £55 million with an EBITDA margin of approximately 17% in the fiscal year 2019.

Hot on the heels of opening its first UK office, CANCOM Group has made its first UK acquisition – Novosco Group, based in Belfast. “Novosco’s product portfolio extends our capabilities tremendously and the customers we serve complement each other perfectly. We are very excited about this acquisition,” said Thomas Volk, CEO of CANCOM.

Prior to the transaction, Novosco Group forecast revenues of £55m and an EBITDA margin of approximately 17 percent in fiscal year 2019.