Deal makers from Hart Shaw Corporate Finance and lawyers Hlw Keeble Hawson have sold four South Yorkshire mobile ‘phone franchises on the same day.
The companies, WAP Communications, 24-7 Connect, 635 Connect and Crystal Connect, had common shareholders and have been acquired by Talk Direct (Leeds).
Dan Fountain, joint managing director of the businesses, said: “We realised that the market is moving to larger ‘super franchisees’ and that long term value could only be generated by consolidating our companies into a larger structure.”
Hart Shaw head of corporate finance, Steve Bell, added: “The companies are long standing clients of the practice and real value was generated through the identification of a strategic acquirer that would pay a premium to secure these companies. Whilst the transaction in itself was straightforward, complexities arose out of the fact we were dealing with four independent companies alongside a franchisor that had a right of veto.”