Guildford: Penningtons rings the right numbers for New Call Telecom investment

Penningtons Solicitors LLP’s Guildford-based corporate team has acted for New Call Telecom and its management in the investment by entrepreneur and prominent City figure, Dr Jerome Booth, who has bought out the existing investor, Guernsey-based Hawk Investment Holdings. 

With its new backer, New Call, whose residential telecom brands include Primus Saver, Planet Talk, Just Dial and Rate Buster, plans to develop its existing customer service and market-leading offers and pursue a buy-and-build strategy over the next three years.

Based in Burnley, Lancashire, London and New Delhi, India, New Call was founded in 2010 and has become one of the fastest-growing residential telecom service providers in the UK, with a well-established customer base.

Booth, who retired earlier this year as head of research at fund manager Ashmore Group to focus on his private business interests, will become chairman of New Call which is on track to exceed £20 million in turnover in the next 12 months.

The cross-departmental Penningtons team was led by corporate partner, David Kendall, from the firm’s Guildford office together with corporate partners, Helen Drayton and James Klein; employment partner, Julian Yew; and corporate tax partner, Sarah Cardew.

Booth was represented by Neil Walmsley of Greene & Greene while Colin Maltby of On Demand Lawyers acted for Hawk Investment Holdings.

Commenting on the completion of the transaction on June 26, Penningtons' Kendall said: “This was a complicated and challenging deal which involved corporate, employment and tax specialists from our London, Cambridge, Guildford and Basingstoke offices. We were praised by our client for our level of service and professional approach and look forward to advising New Call on its future acquisition plans.”