Mpirical sold to Hexatronic Group AB
BCMS has advised Mpirical Ltd (“Mpirical”), a specialist in the provision of online mobile and wireless telecoms technology training, on its sale to Hexatronic Group AB (“Hexatronic”), a Swedish-listed technology group.
First established in 2002, and based in Lancaster, UK, Mpirical is an ISO 27001 certified provider of telecoms technology training across the entire mobile and wireless industry. With expertise across a range of technologies – including 5G, 4G, 3G, 2G, Next Generation Voice, IoT and Wi-Fi – Mpirical offers cutting-edge accredited programmes to a global client base, including telecoms service providers, telecoms equipment vendors, telecoms network analysis providers and government/public sector organisations. Mpirical’s training is a blend of video on demand, live online and live onsite classroom delivery.
“BCMS proved an invaluable advisor every step of the way, from initial identification of potential acquirers through to completion” – Graeme Green, Mpirical
The company’s key differentiator lies in its extensive digital content offering. Mpirical has developed an online learning library of 1,500 training videos, delivered on demand to learners in over 180 countries, all via Mpirical’s Learning Management System (LMS). Known as the LearningZone, this proven online delivery channel has been developed in-house and enables Mpirical to provide training to customers globally.
Headquartered in Gothenburg, and listed on the Swedish stock exchange, (STO:HRO), Hexatronic develops, markets and delivers a wide range of innovative products and system solutions mainly for passive fiber optic infrastructure, with global trademarks like Matrix, Viper, Stingray, Raptor, InOne, Drytech™, Lightmate®, Skyline and Wistom®. The group also offers agnostic theoretical and hands-on telecoms training through its training companies.
Hexatronic has grown through strategic acquisition in recent years. The group has 800+ employees across the globe and sales offices and/or subsidiaries in Norway, Denmark, Finland, UK, Italy, Estonia, Latvia, Lithuania, Germany, China, New Zealand, Australia, US and Canada.
Under the terms of the transaction, Hexatronic has acquired 100% of the shares in Mpirical. The company’s three founding directors – Graeme Green (Managing Director), Drew Mason (Business Development Director) and Philip Nugent (Technical Director) – will remain in their current roles, alongside fellow shareholding director Gavin Mitchell (Content Director).
Deal rationale
There are clear synergies to the transaction. While Hexatronic already offers a range of telecoms training, Mpirical’s technical excellence both in terms of the LMS platform and its specialism in video content creation will enhance Hexatronic’s training capabilities globally.
Commenting on the transaction, Henrik Larsson Lyon, CEO Hexatronic Group, said: “We are excited to welcome Mpirical’s team of highly professional individuals within mobile and wireless telecoms training to Hexatronic Group. The company will broaden Hexatronic’s training offering of foremost specialised 5G training where we see large growth potential in the coming years. Mpirical’s technical team will also be able to support Hexatronic’s other training companies with Mpirical’s own developed and proven Learning Management System as well as competence in creating professional online training videos to enhance their online offering.
“Hands-on training is an important part for most of our training companies, but online training has shown to be an attractive complement for our clients especially for the theoretical part of the course. Online training also enables Hexatronic to offer training globally which will broaden Hexatronic Group’s geographical span outside of the already established training businesses in Sweden, Norway, the UK, the US and soon Germany.”
Mpirical Managing Director Graeme Green said: “We are truly excited to be joining the Hexatronic family at what is a very interesting period in the evolution of telecommunications networks and the convergence of fixed and mobile systems, especially with the current global rollout of 5G. Being part of the Hexatronic Group will enable us to accelerate our development plans for the LearningZone, in addition to continuing to broaden our portfolio of training courses.”
Commenting on BCMS’ role in the transaction, Graeme Green added: “BCMS proved an invaluable advisor every step of the way, from initial identification of potential acquirers through to ultimate legal completion.”
DMH Stallard acted as legal counsel to Hexatronic for its acquisition of Mpirical, while Mills & Reeve acted as legal counsel to the shareholders of Mpirical.
