Engineering Firm Obelisk Gobbled by Constructel Visabeira

Somerset-based telecoms and engineering company Obelisk, which is involved in the construction of some UK full fibre broadband networks, has today been acquired by global telecoms and energy networks giant Constructel (Grupo Visabeira) for an undisclosed sum.

With an office in Wellington, Obelisk currently employs 250 people across its offices in Somerset and Ireland (Cavan and Dublin), providing infrastructure solutions for the region’s telecoms providers. By comparison, Constructel Visabeira recently provided a projected annual turnover in excess of €1 billion (roughly £850 million).

The new deal should support Obelisk’s growth strategy and will see the business join Grupo Visabeira alongside other telecommunications companies. such as MJ Quinn, and provide access to new markets including the UK, France, Germany, Belgium, Portugal, Spain, Italy, Denmark, Sweden and the US.

Obelisk said it would continue to provide existing services and turnkey infrastructure solutions to clients in the UK telecoms and energy sectors, alongside a newly diversified offering and increased technical capacity to help build further growth opportunities in digitalisation, technology infrastructures, fibre deployment. Not to mention their continued investment in mobile and wireless networks.

Obelisk CEO, Ronnie Delaney, said:

“We are very pleased to welcome this new chapter in Obelisk’s growth. The coming together of Obelisk and Constructel Visabeira will create one of Europe’s leading telecommunications and energy services companies, with expected annual turnover in excess of €1 billion. Obelisk is now well positioned to accelerate new growth opportunities, to continue investing and expanding our skilled workforce across the UK, and to offer more complete solutions for our clients in new and existing markets.”

Constructel Visabeira CEO, Nuno Marques, added:

“We welcome Obelisk to Constructel Visabeira group and look forward to working with their talented team of professionals to expand our productive and operational capacity. We place quality and efficiency at the centre of everything we do, and as we look toward new trends in the telecoms, power and technology sectors, our new partnership with Obelisk will complement our overarching vision to increasingly meet the global needs of our various international markets.”

Constructel Visabeira was advised by EY on fiscal issues and DWF on legal advice, while Obelisk was advised by IBI Corporate Finance, who provided corporate financial advice, and Amoss Solicitors who provided legal advice.