Completion of Acquisition of stake in MXLG
Tialis Essential IT PLC announced the completion of its acquisition of a 50% investment stake in MXLG Acquisitions Limited, a joint venture between MXC JV and Liberty Global Europe 2 Limited. The acquisition, initially announced on September 12, 2025, was conditional upon receiving consent from Santander UK plc, which was granted on October 6. The company views this acquisition as a key strategic initiative aligned with its growth objectives and expects it to positively impact assets over the medium term, adding meaningful shareholder value. The Board believes this agreement demonstrates the continued execution of their strategy, focusing on sustainable growth through targeted acquisitions.
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On 12 September 2025, Tialis (AIM: TIA), the mid-market IT managed services provider, announced that it had signed a conditional share and purchase agreement with MXC JV Limited for the acquisition of a 50 per cent. investment stake in MXLG Acquisitions Limited, a joint venture between MXC JV and Liberty Global Europe 2 Limited (the "Acquisition").
The Acquisition was conditional upon receipt from Santander UK plc ("Santander") of its consent to the Acquisition, as required pursuant to the terms of the Company's debt arrangements with Santander.
Tialis is now pleased to announce that it received Santander's consent to the Acquisition on 6 October and accordingly the Acquisition has completed, marking the completion of a key strategic initiative in line with our stated growth objectives.
Completion of this deal represents a significant milestone for the Group and is expected to have a positive impact on assets over the medium term. The Board is confident that this transaction will add meaningful shareholder value.
Commenting, Chairman Ian Smith said:
"The finalisation of this agreement demonstrates the continued execution of our strategy, focusing on sustainable growth through targeted acquisitions. This is a highly complementary addition to our business that aligns with our core values and strengthens our market position. On behalf of the Board, I would like to thank our shareholders for their continued support and our team for their dedication in bringing this deal to a successful conclusion."
The Board looks forward to providing further updates in due course.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.