End of HSS6 Oct 2025 09:42
The market seems to like this but beginning of the end in my opinion. The 'sold' part ( check definition of sold as that usually implies you get some money for it not pay £26m) will continue to trade as separate company. Again my opinion only but Proservice will become part of Speedy in due course. Speedy have all the power and a 5/8 year agreement.
HSS will essentially become a broker with minimal assets relying wholly on Speedy to service their customers. Speedy have paid £35m for 10% of the business and £360m in annual revenue. Only one winner in this deal from what I can see other than it maybe extends the life of HSS for a couple more years.
One question to ask, if you are a contractor do you choose HSS who will then put your order through Speedy or just go direct to Speedy.