Multiple deal for Hart Shaw

Share this article
Have your say

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.”