Q&A for Centric Telecom customers further to Centric joining The Adapt Group
Who are Adapt?
Adapt is a Virtual Network Operator (VNO), so unlike traditional network operators, Adapt is not restricted to providing solutions on its own fixed assets. Using the assets of multiple carriers, Adapt is free to advise on the most suitable network and technology partners, delivering the best choice for each customer depending on their unique requirements. Adapt's VNO model enables all organisations, whatever their size, to benefit from enterprise level pricing and service levels.
Adapt's approach is simple: Keep the customer at the centre of everything it does. Adapt provides, manages and monitors a single SLA on behalf of its customers with transparency and a commitment to service excellence. Since its formation in 2001 and from organic growth alone Adapt has seen steady growth rates of over 50% per year, recording revenues of £16M last year. The Centric acquisition now accelerates this rate of growth, seeing the Adapt Group already set to produce revenues of over £30 million next year
Why did Adapt acquire Centric?
The Centric business is a complementary business within Adapt’s VNO model and strengthens the Adapt Group; broadening the product and service offering as well as extending the customer base.
How do both companies benefit and complement each other?
Adapt is a leading provider of collocation and managed IP services. Centric brings a highly complementary portfolio of managed in-building IP communications services. The two companies share similar suppliers and customers. Adapt’s business model originated around customer’s collocation requirements and IP connectivity. Centric’s model is around “lighting” multi-tenanted buildings with fibre infrastructure. Combining these forces within Adapt will bring huge benefits and opportunities to businesses looking to benefit from IP network connectivity
How financially stable is Adapt?
Adapt is a privately held company funded through a mixture of debt and equity investments from HSBC and mezzanine financiers. Business stability is built around forward contracted revenues currently calculated to be worth in excess of £100 million. It therefore came as no surprise that Adapt’s existing funding partners chose to re-invest for the purpose of supporting the Centric acquisition
What does it mean for me as a Centric customer?
It will be business as usual, but with greater combined financial, technical and operations resources which mean Centric can deliver more value and a wider range of services. Adapt’s business has been built around service excellence and Adapt will reinforce this ethos within Centric.
What are the plans for integrating the companies?
For the first few months, the companies will continue to operate separately as the two organisations get to know each other better. A comprehensive plan is in progress that takes into consideration relationships with customers, landlords, employees and suppliers as well as processes, systems and network integration
Will there be any changes to the service you provide to my company?
Services will continue to be provided by Centric and you should continue to contact Centric in the usual way for your account management and service management enquiries. The big difference is that Centric customers will now have a wider portfolio of services available to them from Adapt, as well as the enhanced support from Adapt’s customer-focused approach.
Who should customers call for support issues?
The current method of communicating with the Network Operations centre and raising service issues will remain in place. That is the use of the www.centrictelecom.com portal and the
0800 068 6485 or 020 7306 2220 phone numbers.
Will my account management team change as a result of the acquisition?
Account management contacts remain the same.
Who will be invoicing me and who should I contact for billing issues?
There will be no change to your invoicing and payment arrangements. Billing or invoicing queries should be directed to your Centric contact.
Please contact Heather.shuker@adaptplc.com for any additional questions