The business services team of i-DealNet, led by Partner Steve Bartlett, and assisted by Executive Rajbir Turna, has advised the shareholders of Connect Assist Limited on a fund raising and equity restructuring. i-DealNet acted as lead advisor.
This transaction enables the established senior management team to assume a position of greater control and influence in the day to day running of the business, and to extend their ownership in the business.
Connect Assist is a provider of complex and socially responsible inbound contact centre services, principally focused on the charity sector, and associated technology solutions. Its highly trained staff deal with difficult issues on a daily basis, ranging from financial crises, to homelessness and psychiatric support. The business has thrived on providing a high quality, added value service, enabling its clients to provide better and more measurable outcomes for their service end users.
Commenting on the transaction, Connect Assist founder Patrick Nash said: “This transaction allows the shareholders of Connect Assist to position and focus the business for the future. Under the established leadership of Ron Moody we shall continue to concentrate on providing a crucial and valuable service to our clients, and we shall be growing and developing the business to provide further and better support to existing and new clients.”
Patrick said: “All of the shareholders of Connect Assist are extremely grateful for the high quality of advice provided to us by i-DealNet. Their professional and determined approach has delivered an outcome to us that we are delighted with. They worked closely with us to structure the right deal for us, and we would not hesitate to recommend their services to others.”
Steve Bartlett, Partner at i-DealNet, added: “It’s been a pleasure working with Patrick, Ron and the team at Connect Assist. This was a complex transaction with a number of stakeholders to consider, but the end result is a business that is now very well positioned for continued growth. We expect to see the shareholders and employees of Connect Assist continue to push the business forward.”
Shoosmiths, led by Emma Gibson and Robert Pook, acted as legal advisers; and David Thomas of SpencerGardnerDickins acted as tax adviser to the shareholders of Connect Assist.
The transaction was backed by a multi-million pound finance facility provided by RBS/NatWest.