insidermedia.com periodically invites expert third parties to share their views on the industry’s most pressing issues. In this piece Phil Miller, M&A director at TXO, speaks to Insider, following a number of acquisitions made by the firm in recent months
In December, TXO announced the agreed acquisition of Andover-based specialist networking decommissioning and engineering services provider Lynx UK Ltd.
One month later, it then swooped for TEQPORT, a German tech-enabled network service provider with asset recovery and decommissioning expertise, to expand its global presence.
Now Miller said that with the support of committed private equity backing from TowerBrookCapital Partners, the firm will pursue opportunities for future acquisitions.
He told Insider: “It’s a fragmented market globally, there are lots of opportunities to bring like-minded organisations together and make a real impact on circular economy services in telecoms.
“We’re fortunate to have fantastic and committed private equity backing from TowerBrook Capital Partners especially in recent acquisitions like Lynx and German asset recovery specialists TEQPORT. With this support, we’re empowered to pursue opportunities as we look to expand TXO’s global footprint.”
Miller noted that the acquisition strategy going forward “remains more of the same”, expanding into new markets and consolidating TXO’s ambition of being the number one telecom circular economy company in the world.
“We like to think of our strategy as a patchwork of opportunities that we will look to fill in to support the broader TXO strategy with high performing, great people,” he said.
Miller said the focus will always be on organic growth alongside M&A.
“Growth by acquisition is about delivering on the broader TXO strategy by buying, instead of building, and we make that conscious decision every time we look at an opportunity,” he added.
“It’s not just about acquiring value, but creating value with every acquisition – making TXO and the acquired business more than the sum of their parts. So, beyond what we add through acquisition, it’s about creating a model where we can export existing TXO + acquired capabilities to drive growth across the group.”