Serial entrepreneurs return to acquire tech business they formed in 2010
Two serial entrepreneurs have acquired a tech business they originally founded in 2010, for an undisclosed sum.
Damian Hanson and David Hague have rejoined One iota, which is based at the Sharp Project, a hub for digital entrepreneurs in north Manchester.
One iota was acquired by Sanderson Group in 2013 as one of the UK’s most highly regarded digital retail technology specialists.
Having been appointed by the duo in 2016, Christian Brooks then led and completed a management buyout in 2020.
Since then One iota has continued to grow and it now counts brands such as Hugo Boss, Pro:Direct, SportsShoes.com and Regatta as key customers.
Damian Hanson and David Hague have built and exited several other businesses together in the past 15 years, including Mission Labs, which was acquired by Gamma Communications in 2021 for £46m.
Now Christian Brooks has welcomed One iota’s two founders back in to lead and invest in the business.
Stephen Jarman, partner in the corporate team at Clarke Willmott in Manchester, advised Hanson and Hague on the transaction, assisted by Chloe Santiago.
He said: “It’s always a delight to work with David and Damian and, having acted for them on the original 2013 sale, it’s strange the way things come full circle.”
Former CEO, Christian Brooks, welcomed the original founders, saying: “Their original vision was excellent and some of the passion and energy they have shown for the continued development of One iota is exciting and refreshing.
“I look forward to supporting them, our talented team and our valued customers on the journey in the coming years.”
Damian Hanson said: “The business has achieved a great deal in recent years, and we believe under our leadership it will continue to flourish.”
David Hague said: “Whilst the retail technology sector has advanced significantly I know that our future vision in the retail sector will delight our existing customers and attract new retail brands.”
Christian Brooks received legal advice from Anton Stirrett of Primas Law. He will remain with the business in an advisory capacity with Ed Lawrenson and James Lendrum retaining key leadership roles.
