Southampton’s Clarke Willmott oversees sale of Capital Cash to Cash Converters

Lawyers from Southampton’s Clarke Willmott have advised the management team at Capital Cash Limited on the sale of their business to Cash Converters UK in a deal estimated at £13.9 million.

Capital Cash becomes a major franchisee for the country’s largest second-hand retailer, which offers pawnbroking, buyback, and retailing of pre-owned goods.

The deal will see Cash Converters add another 42 outlets to its 188 existing UK franchises, providing it with both a larger physical footprint and an experienced management team from Capital Cash.

The exchange of contracts was announced on the Australian Securities Exchange (ASX), where Cash Converters is listed. While the companies currently await regulatory approval from the UK FCA, it is hoped that the deal will be completed in early summer.

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Overseeing the transaction was Richard Swain, Corporate Partner at Clarke Willmott’s Southampton offices. He was supported by Corporate Solicitor Bryony Warren, among others at the firm.

Richard said: “This was a great deal to be a part of, and we are really pleased to have been able to support the Capital Cash management team on a transaction which is a fundamental part of the strategic growth of the Cash Converters brand in the UK.”

Capital Cash’s Managing Director Carl Murray takes over as CEO for Cash Converters UK as part of the acquisition.

He said: “We have worked with Richard Swain and the team at Clarke Willmott for a number of years on multiple transactions, and it has been a pleasure working with Richard, Bryony and the team again on this transaction. Their diligence and professionalism are a credit to them and the firm.”

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