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Founders Freed to Grow by Selling Former Telecom Business at a Premium

Founders Freed to Grow by Selling Former Telecom Business at a Premium
Wednesday, May 11, 2022

CLIENT: Signal Solutions

Panthera Accounting supports a swift and successful telecom company sale and doubles its value versus previous estimates, enabling partners to move on and build their next business.

Mark Rose and John Baker are founding partners at Signal Solutions. Today they focus their time and energy on meeting a booming demand for better mobile business connectivity. It was made possible by outperforming on the sale of their former company, telecom service provider Boosh365, with the aid of Panthera Accounting.

Creating a different experience

Panthera has worked with them since 2019 when John introduced Mark to managing director, Tory Wagg.

Mark had not had a good experience with accountants. He said: “I struggled for years with accountants. None really understood our business and its complex relationship with Vodafone. We needed advice and answers to questions that weren’t asked every day – not simply help with yearend accounts.”

John felt that Panthera would be a better fit. “You need an accountant to support you, not battle against you. I knew that with Panthera we could be up front about where we were, what we needed and where we wanted to take the business. After meeting Tory, Mark completely agreed.”

 Mark found it a very different experience. “Tory didn’t pretend to understand the whole business but recognised it was not straightforward. She provided a pricing structure that included advice when we needed it. This paid real dividends later when she guided us through the challenge of selling the business.”

Building up business value

Panthera worked with John and Mark to ensure complete clarity around business finance. At that time, the partners did not envisage selling for at least three years. “We were still considering whether to run the telecom and Signal Solutions businesses separately or together. Tory helped us understand the benefits of both routes” Mark recalled.

Panthera helped the partners prove a higher financial value in the telecom business than they had assumed. Mark told us: “When I looked to sell the business a few years ago, we were badly advised by our accountant and nearly accepted a very low offer. From the outset, Tory thought we were undervaluing and highlighted things we should be pointing out to a buyer.”

The fresh approach enabled John and Mark to reach a valuation that represented its true potential. Mark continued: “We originally had the impression that things like existing debt in the business would lower its value. Tory helped us see its future value and establish a new valuation at around double the original level.”

Meeting the need for speed

In March 2020, the partners rejected a low offer. In late April they were surprised to receive a revised offer from the same buyer. It had funding in place, but only for a fast purchase. The deal had to close in just over 4 weeks.

Their solicitor was sceptical about any accountant’s ability to manage due diligence and planning for a fast sale. Mark recalled: “It would have been easy for Panthera to be sceptical too. Instead, they were simply there when we needed them, and it was the solicitor we had to chase.”

Panthera provided due diligence support, liaised with the buyers’ accountants and advisors, and helped prepare sellers’ accounts and answer requests for information. They enabled John and Mark to prebook timeslots for financial discussion and bring in the solicitor or broker as appropriate. John said: “They nailed what would be involved to complete in the time. We knew when we’d have access to Tory and the team and also what our costs would be.”

The second run at selling the business was significantly different from the first. Mark said: “This time, we had the confidence to reject the first offer from our buyer – and in the final deal we came very close to our valuation of around £1m.”

Enabling a new future

The partners can now focus on building up Signal Solutions to help businesses across the UK communicate better with the aid of mobile signal boosters. Mark added: “We couldn’t have done this without Panthera. I always got the sense that Tory was excited to be on the journey with us.”

Both leaders see a big difference in Panthera’s contribution compared to other accountants. John concluded: “I’ve worked with many accountants. Panthera is different, particularly in how they handle pricing. They make it transparent, and that builds trust.”

Mark’s final remarks confirmed an altered experience of accounting: “Tory and the Panthera team are the opposite of stuffy, old-school accountants. It’s a modern kind of accountancy service, and they are there to help you and your business. If you want someone who’s going to be on your team, not just an accountant, use Panthera.”

What our clients say

For us, there is nothing better than a happy customer. Here are just a few that let us know how much we mean to them.

Pete Dungey

Simple, efficient and most importantly, hassle-free.

We found Panthera via our search for a Xero expert. We knew the software we wanted to use, and needed a forward-thinking accountancy partner who could get us up and running, and teach us the ropes moving forward. Tory and her team have always been on hand to answer our questions, and help us to grow as a business, particularly during periods of big change, such as becoming VAT registered. They are always on hand to alleviate any concerns and help to keep our records in order, which makes our year-end accounts an absolute breeze! Being based in Bristol, our relationship is entirely email based, alongside one consolidation meeting at year end - this keeps things simple, efficient and most importantly, hassle-free.

Pete Dungey Kaleido Grafik Limited
Anita van Eijndhoven

Talk Our Language

The support and service we receive from Panthera Accounting is very good. Everything from regular meetings, a prompt e mail response and the transition of our Xero software (which we find very pro active indeed) has and is all remarkably efficient. We find Panthera talk our language and make any process as painless and easy as possible.

Anita van Eijndhoven Quidne-IT
Ash & Tim Lane

Panthera brush aside the stereotype of the typical accountant

We got in touch with Panthera Accounting by way of a recommendation; we haven't looked anywhere else since. They are an extremely professional yet relaxed group of people. We were slightly daunted by the idea of accountants but Panthera brushed aside y the stereotypes. They are very understanding when answering any questions we may have. They are completely efficient, offer sound business advice, and are fantastically priced. We will continue to recommend them.

Ash & Tim Lane Starveacre Fencing
Jayne Johnson

An Asset to my Business!

The whole team at Panthera are great! Working with them has been a huge support to my growing business. They help me to understand the numbers I need to know. They give me technology solutions like Xero so that I can process things quickly and have access to my own figures. They are quick to reply, highly knowledgeable, nothing is too much trouble and as well as making sure that everything is compliant and on time, they are enthusiastic, professional and fun to work with.

Jayne Johnson Better People
John Baker

Absolute joy - they provide a first class service on every level

Working with Tory and the team at Panthera is an absolute joy - they provide a first class service on every level; from simple Xero issues through to more complicated tax enquiries, they’re always on-hand to help me get it right. I’m certainly not their biggest customer, but I’m always made to feel like their most important one.

John Baker BKR Solutions
John Castle

Professional and Friendly

I would like to say that Panthera Accounting have helped me with my business accounts for more than 4 years now. They have consistently offered an excellent competitively priced service that works both professionally and in such a friendly way that I would highly recommend them to everyone considering using their services.

John Castle Ilexanna Limited & Birch Castle Homes Limited
Jonathan Morrison

They are always there to answer queries and sort out issues

I had been with Mr Dunn for 20 years when upon his death Panthera took over the business. They now play a bigger part in the running of my business, they do all the stuff that has to be done but I don't like doing ie book keeping, VAT, wages, and returns. They are always there to answer queries and sort out issues and make sure all Tax deadlines are met. Their costs are fair, service is great and I have and would highly recommend them.

Jonathan Morrison Wallingford Builders
Pippa Scott

Professional, friendly and personal service.

Panthera Accounting have gone above and beyond the call of duty to guide and support our Company. They offer a professional, friendly and personal service that can take the stressful and sometimes frightening feelings out of running a business. They have guided us through the working of Xero and have offered “teaching sessions” on the day to day running of the accountancy package. Our only regret is that we didn’t join their team earlier.

Pippa Scott Scott's Commercial Services Limited
Sara Southey

Panthera puts the personal back in to accountancy!

Tory and her team have provided a friendly, approachable and helpful service from the start. They have delivered a quality service, above and beyond anything I could have expected. Panthera, with the help of the Xero package, have taken the stress, strain and confusion out of managing my company and personal accounts. I look forward to working with them for many years to come.

Sara Southey Bluestones Garden Design
Tracey Miller

Panthera are fantastic.

Panthera are fantastic. Always professional, going the extra mile for their clients and delivering superb service. I recommend them all the time to my clients.

Tracey Miller Bigger, Brighter, Bolder BBB

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