Parlem Telecom has signed a financing agreement worth six million euros with the venture capital asset manager Inveready. The company will use the resources to make new corporate acquisitions that will allow it to increase its presence in the Catalan market and position itself as a reference telecommunications group, as well as to continue attracting customers and increasing turnover.
Recently, the company led by Ernest Pérez-Mas has acquired companies such as Girona-based Infoself, specialized in providing telecommunications, connectivity, cybersecurity, and cloud solutions to companies, or Valencia-based Ecolium Energia, focused on the management of green energy projects and photovoltaic self-consumption. Operators Octel and Bucle, Tecno-so and Sonnet were other additions made in the last fiscal year, and it also launched Aproop Telecom, a new operator for the Valencian market.
The agreement with Inveready has been carried out through the issuance of convertible bonds, at a price of 7 euros per share. Parlem's partners can extend it up to seven million euros.
It is not the first time that Parlem has resorted to Inveready. A little over a year ago, Parlem issued a convertible bond worth three million euros to finance territorial expansion with the opening of stores throughout Catalonia. Inveready led the subscription of the bond together with other main investors of Parlem. With these resources, the acquisition of small companies was also contemplated.
This operation was the prelude to its arrival on BME Growth, an debut that will celebrate its first year next month. The growth it registered during 2021 resulted in doubling its turnover, up to 36.7 million euros, with an increase of 95% compared to the 2020 business (18.8 million euros), and tripling that of 2019, when it earned 10.9 million euros.
In the last fiscal year, the gross operating profit reached 1.31 million euros. However, the increase in costs due to its IPO ---accounted for at around 600,000 euros---, the increase in personnel, and the amortizations due to the integration of the aforementioned companies, have settled the group's balance sheet with losses of 3.5 million euros.
During 2021, Parlem reached 153,000 active lines, which represents an 85% increase compared to the previous year (83,000 active lines), and consolidated a network of 19 direct customer service stores distributed throughout Catalonia.