Major Merseyside employer back from the brink following takeover deal
One of Merseyside’s largest private sector employers has clinched a rescue deal, TheBusinessDesk.com can reveal.
The Contact Company (TCC), which was founded and run by the former Liverpool City Region LEP chair Asif Hamid, had filed a notice of intention to appoint administrators on Friday.
FRP Advisory partners David Acland and Martyn Rickels were working with The Contact Company on its restructuring plans, which has resulted in its sale to Sensée, the London-based work-from-home CX Outsourcer Sensée, for an undisclosed sum.
The deal forms a new UK-based customer experience outsourcing group, with The Contact Centre’s 1,200-strong workforce more than doubling Sensée’s 800 workers.
The two companies will continue to trade as Sensée and The Contact Company. Steve Mosser will remain in the role of Sensée Group CEO and Asif Hamid will remain as chief executive of The Contact Company.
Hamid said: “This is fantastic news for TCC, its clients and our dedicated team.
“Sensée has earned a reputation as the premier CX [customer experience] outsourcer in the UK with its unparalleled WFH technology platform that connects the best talent to the best brands. We are proud to join the Sensée family and look forward to an exciting future together.”
Steve Mosser said: “This acquisition allows Sensée to offer exciting new advantages to TCC and its clients. With our unique talent elasticity, scalability and productivity, we will enhance customer experiences and deliver even greater value.
“In turn, Sensée will benefit from TCC ’s extensive experience in the retail and public sectors and their expertise in running highly efficient office-based services. Our portfolio of clients in the Financial Services industry will also benefit from the extended ability to support a broader range of FCA-regulated services that requires a physical office location.”
Hamid set up the call centre company in 2006 with 15 staff and grew to employ more than 1,500 people by 2022, handling customer enquiries for major retailers and Liverpool Football Club.
It suffered a “severe cyber attack” in March 2022 which left the company unable to operate and required its IT infrastructure to be rebuilt. Hamid has previously described the attack as a “body blow” for the company.
Its most recent accounts, for the year to March 2022, reported a pre-tax loss of £2.4m as the company’s failure to win new business had seen turnover drop 20% to £33m.
Towards the end of 2022 it agreed a funding facility with Independent Growth Finance.
Hamid has been a long-standing figure in the Liverpool business community. He was appointed as chairman of the Liverpool City Region LEP in 2017, which has now been integrated into the Liverpool City Region Combined Authority, and has been honorary president of the Wirral Chamber of Commerce since 2018.
In October 2010, his firm acquired its 30,000 sq ft Grade A office block in Birkenhead for £3.1m.
The Queensgate building was completed in 2008 shortly before its developer, Felton Construction, went into administration.
Plans for Monarchs Quay
In 2017, reports linked The Contact Company with bold plans to develop a 1,200-seat call centre on Monarch’s Quay, part of Liverpool’s Kings Dock, close to the M&S Bank Arena.
Although planning permission was granted for the project it failed to materialise, and in September 2019, the city council announced it was to buy up the remainder of Kings Dock and redevelop the site.
David Acland, Restructuring Advisory Partner at FRP Advisory, said: “The Contact Company is a major employer with an impressive roster of client contracts, but has not been immune to the challenges faced by the wider sector.
“It’s a pleasure to be able to not only ensure a smooth transition for customers and continuity of service, but also to preserve almost a thousand jobs.”
Shoosmiths provided legal advice to FRP.
