Mon, 11 Mar 2013 | BUSINESS SALE
Hasgrove has confirmed that it is to sell its marketing and technology subsidiary Amaze to St Ives Marketing Services.
Hasgrove, a wide-reaching communications and business strategy services provider, will sell Amaze for a total of around £25 million. This sum will be spread across an initial payment of £15.3 million, which is to include a £1.8 million repayment of intercompany debt. A further payment of £9.7 million will then be handed over at a later date once the business has achieved set profit targets in the year to 31 December 2013. All of the deal is subject to the approval of shareholders but it is set to go ahead.
The business seller has noted that Amaze requires a partner with the ability to increase investment in the company in order to boost its profits. At the moment its owner was unable to do this and had been turning down new business opportunities due to a lack of resources.
Amaze was founded in 1997 and posted revenues of £17.3 million in the year to 31 December 2012, while its operating profits before management recharges were £1.7 million.
St Ives is set to operate Amaze as a subsidiary and will manage it from its existing locations through the current team of staff.
____________________________________________________________________________
Related articles:
Now is the time to buy a business
A very successful popular farm shop; an expanding and profitable business. Prominent main road location with passing road traffic. Located adjacent to a busy Petrol Station and close to the Garden Centre. Dorchester approx. 7 miles. Wareham approx. 1...
LEASEHOLD
Prominently located on Bournemouth’s West Cliff. Generous site approaching ½ acre with dual access. Well-equipped rooms with direct dial telephones, colour televisions, tea making facilities, trouser presses, ironing facilities and hairdryers. Key fo...
LEASEHOLD
Highly regarded 2 AA rosette restaurant and function/ wedding venue. AA 5 star guest accommodation rating. Purpose built bedroom block (1999). High quality fittings and equipment. UPVC double glazing with window blinds. Gas fired central heating. Bat...
FREEHOLD
08
|
May
|
Pipeline manufacturer acquired by engineering group | BUSINESS SALE
UTS Engineering has acquired pipeline manufacturer and servi...
08
|
May
|
JMG Group expands commercial insurance services with acquisition | BUSINESS SALE
JMG Group has expanded its commercial insurance services and...
08
|
May
|
Assets to be sold as steel processing firm ceases trading | ADMINISTRATION
A steel processing business based in the Liverpool City Regi...
25
|
Jul
|
SP Group Limited enters administration | ADMINISTRATION
Based in Redditch in the West Midlands, SP Group Limited is ...
11
|
Nov
|
Seagrass St Ives enters administration | ADMINISTRATION
A top St Ives seafood restaurant featured in The Good Food G...
15
|
Jul
|
Hasgrove to use division sale proceeds for digital development | DIVISION SALE
Manchester-based marketing company Hasgrove has sold off its...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.