Digital agency’s disposal of contact centre completes

Jaywing, the Sheffield-based digital agency, has completed the sale of its contact centre business, HSM, to Bidco.

Bidco, which is backed by New York and London-based private equity firm Aquiline Capital Partners LLC, has acquired HSM in a £500,000 deal; first announced in November 2018.

Jaywing said this morning: “The disposal of this non-core asset strengthens the balance sheet; simplifies the Jaywing offering; provides a sizeable and ongoing revenue stream; reduces a lease obligation and allows management to concentrate entirely on developing the core business.”

The listed agency has also entered into a three-year services agreement with Bidco, which will provide Jaywing with a minimum of £360,000 during the three-year period.