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Today’s news in brief – 27/2/2024

Hazlewoods Corporate Finance has guided the £18.1m management buyout of Smart Numbers Ltd by YFM Equity Partners. The Southampton-based communications company, founded by Scott Woolaway in 2005, began by offering trackable inbound phone numbers and has evolved into an Ofcom-registered telecoms reseller and Google Partnered digital marketing business. Woolaway retains a significant shareholding. Rich Grover, Hazlewoods Corporate Finance Director, praises Woolaway’s dynamic leadership, foreseeing greater successes. Woolaway commends Hazlewoods for clear, straightforward advice during the transaction, emphasising their decade-long trusted partnership.

FRP Corporate Finance has supported Wiltshire-based Platinum Motor Group in acquiring Pebley Beach, adding two car dealerships. As a long-term adviser to Renrod Holdings (Platinum’s parent company), FRP offers buy-side support. The deal, facilitated by partner Mark Naughton and associate director Freddie James, aids Platinum Motor Group’s geographical expansion, strengthens Hyundai business, and introduces Suzuki to its portfolio. The acquisition aligns with Platinum’s strategic growth, and Jeremy Cuff, Managing Director, anticipates integrating Pebley Beach’s respected operations under Platinum’s umbrella, ensuring continuity post the retirement of Pebley Beach’s owner, Dominic Threlfall.

Beever and Struthers has advised on the management buyout (MBO) of HFL Building Solutions Group, a Manchester-based independent building maintenance company. Founded in 2005 by Dave Saxton, HFL offers mobile maintenance and integrated facilities services. Saxton, supported by family members, leads as the group managing director post-MBO. Beever and Struthers’ corporate finance, debt advisory, and tax advice contribute to the undisclosed sum transaction. Dave Saxton expresses delight in sole ownership, highlighting HFL’s growth and commitment to maintaining it as a family-run business with the newly promoted family members as directors and shareholders.

TC Group has completed a merger with London-based Citroen Wells, creating ‘TC Citroen Wells.’ The merger forms part of TC Group’s holistic approach, offering clients comprehensive services across business and personal affairs. Citroen Wells, established in 1952, brings its experience and forward-thinking ethos to the merger. The combined entity aims to expand services and expertise while retaining operational control. Citroen Wells’ senior partner, Stephen Simou, emphasises shared values in proactive personal service. TC Group CEO, Richard Keyes, anticipates a seamless transition and continued quality service for Citroen Wells clients.

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