Life’s what you make it - first deal for TalkTalk Business since demerger
Our weekly free round up of key deals and major moves in the Rainmakers world
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It remains a surprise that the TalkTalk Business part of Sir Charles Dunstone’s heavily indebted telecoms business hasn’t changed its name now that it has demerged from the rest of the group.
Nevertheless, their impressive CEO Ruth Kennedy has proved she’s prepared to pursue her own path by acquiring Oxfordshire-based Planet IT, as part of its plans to expand its managed services and cyber.
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Planet IT, which made pre-tax profits of £379k on £16.4m turnover last year delivering managed IT support, cybersecurity and Microsoft cloud services to business customers.
Neither party will confirm how much TallTalk has paid, but industry experts say acquiring businesses are typically paying a multiple of five times profits for businesses of this size and scale.
However, Planet IT’s founders, Gavin Jones and Sean Smith, will continue to lead the business, which employs 87 people, alongside the existing leadership team, ensuring continuity for customers, partners and employees, which appears to suggest they are on some kind of earn out.
The combined business will have about £100m in turnover and 250 full time employees.
The company offers managed and unmanaged services spanning connectivity, networking, cyber security, cloud, IOT and voice and collaboration. It works with strategic technology partners including Cisco, Zoom and Mite.
Gavin Jones, Co-CEO at Planet IT, said the business was continuing its sponsorship of a stand at Oxford United Football Club, and that he and co-founder Sean Smith were staying and were “excited about the synergy”.
He declined to disclose any further details on the purchase price or the earn out terms, but said the business will trade as Planet IT - Part of Talk Talk Business.
He also said: “Over the past two decades, we have built a strong reputation for delivering high quality IT support and services. Joining TalkTalk Business gives us the scale and investment to build on that success.
“My co-founder Sean Smith and I will remain with the business, along with our leadership team, directors and staff, so our customers and suppliers will continue working with the same people they know and trust.
“Demand for secure managed IT services continues to grow as organisations rely more heavily on cloud platforms and digital infrastructure. Joining TalkTalk Business means we’ll be able to offer our customers a wider range of services, and support their growth more effectively, while continuing to deliver the high-quality service our customers expect.”
Ruth Kennedy, CEO at TalkTalk Business, said: “Bringing Planet IT into TalkTalk Business is an important step in expanding our managed services capabilities.”
Last year Salford Quays based Talk Talk Business abandoned plans to completely rebrand and ditch its legacy Talk Talk identity.
Manchester-based advisory firm Cowgills acted for TalkTalk Business, while Planet IT’s broker was Ox Advisory, the legal team was Freeths, and their accountancy firm, Wellers.
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BGF has notched up a chunky exit from its investment in search firm Metric – it found a buyer willing to take it off their hands, after just 20 months.
The bank-backed investor headhunted a tidy exit banking a 4.1x return and a punchy 138% IRR following a $100m (£78m) acquisition by Southfield Capital. Not bad for what’s essentially a very successful “short-term contract”.
Founded in 2019 by Joe Jani, Metric has been anything but metric-ulous in its growth. The firm has scaled to 130+ consultants across seven global offices - proving its expansion strategy wasn’t just a shot in the dark, but a perfectly placed hire.
For BGF, it’s another placement to brag about, its third Midlands exit in four years to deliver returns north of 120% IRR. Clearly, they’ve got a knack for spotting talent… and exits.
Jani said: “In the last two years, we’ve accelerated our growth ambitions, expanded our global footprint and built a very high-performing business that has a strong and collaborative culture at its core.
“BGF has played a significant part in delivering our growth plan, working with us in partnership to achieve this fantastic result for Metric.”
BGF investor Adam Huckerby added: “This exit is a fantastic result for everyone involved. It’s remarkable what the business has achieved in such a short period of time, but that is a reflection on the strength of Joe and the entire Metric team.”
All in all, a deal that really measures up.
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Acquisitive financial advisory business Perspective Financial Group has acquired Freedom Advice, in Leeds, and Mackrill Financial Management, in Ripponden. In total, six financial planning firms have joined Perspective in the first quarter of 2026.
Collectively, these new additions have hauled in another £825m in assets under management and expand the group’s geographic reach with new offices in Nottingham, Shrewsbury and central London as well as Yorkshire.
Ian Wilkinson CEO of Perspective, indicates the group is not slowing down its rapid expansion drive, with further acquisitions expected to be revealed in the coming weeks.
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NatWest has sold its employment law, HR, health and safety and environmental management consultancy business Mentor to Empowering People Group.
Mentor was launched in 1997 and is based in Glasgow, with an office in London.
Backed by Limerston Capital, Empowering People has offices across the UK, providing HR and health and safety support alongside employment law expertise.
Robert Begbie, NatWest’s commercial and institutional chief executive, said: “This sale marks an important step in our strategy to simplify and focus on what matters most to our customers and colleagues.”
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