MOORFIELDS COMPLETE SALE OF UK COMMUNICATIONS PROVIDER INCLARITY COMMUNICATIONS
A buyer has been found for the assets of UK communications provider, Inclarity Communications, which entered administration on 17th November 2022.
The London based UK business established in 1991 sold a mix of broadband, voice, cloud and other I.T. solutions to firms. The firm unfortunately fell into difficulty following a recent departure of management against a backdrop of declining revenue amidst heavy investment in product development.
Appointed administrators Moorfields Advisory advise that the Group’s physical and intellectual property assets have been successfully sold to DRD Communications, owners of VanillaIP/QudoCloud, on 13 December 2022.
Dave Dadds CEO of DRD said, “Inclarity was one of the earlier adopters in the VOIP marketplace with over 25,000 users, like VanillaIP, Inclarity operate a Cisco/Broadsoft platform. We look forward to working with both the Partners and Direct Client to delivery stability across the services, something that has been lacking in the recent past, along with support for over 2 million phone numbers where Inclarity are the Range Holder.”
Richard Keley, Partner at Moorfields said, “Following a short Administration trading period accompanied by an accelerated distressed business sale process which generated significant interest, we are delighted to have completed a sale of the business and assets to DRD Communications. The sale of the business preserves all of the jobs and represents the best outcome for creditors, as well as the business and its stakeholders.
“The company is a longstanding reputable provider with a substantial customer base and, under new ownership, we feel confident it will be able to prosper.”
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Moorfields Advisory Ltd is one of the UK's leading independent firms of restructuring and insolvency specialists. The highly skilled teams include restructuring professionals and licensed insolvency practitioners who provide leadership, experience and high-quality advice to companies and their stakeholders in financially distressed situations.
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