Project Description

HMT undertook financial due diligence for Whistl on their acquisition of home shopping fulfilment services provider Clientbase Fulfilment Limited (“Clientbase”).

Founded in 1999, Clientbase Fulfilment is a privately owned firm providing full e-commerce and home shopping solutions for companies, including pick & pack, 140 seat contact centre capability, warehousing, returns handling and delivery services.

Based in Paignton, Devon, the company has built up an impressive customer base with well-known brands including Cisco, Dogs Trust, Madeleine, Peter Hahn, RSPCA, Secret Lab, Scotts of Stow and Sophie Conran.

Clientbase Fulfilment was founded by Managing Director David Fanous, Sales & Marketing Director Rob Smeddle, and Financial Director Angus Dick.  Following the transaction, David will remain with the company with Rob becoming a consultant, and Angus will take retirement.  The company’s 250 employees will continue to be located at its two sites in Devon and will continue to trade under the Clientbase brand.

The acquisition of Clientbase accelerates Whistl’s rapid expansion into fulfilment and contact centre services, most recently announcing the expansion of its facilities in Rushden and a new warehouse in Northampton.  Through this acquisition, Whistl will now have 8 fulfilment warehouses across the UK and over 500 seat contact centre capability.

HMT undertook financial due diligence for Whistl as part of the transaction.

Manoj Parmar, Chief Financial Officer at Whistl commented:

Having provided Financial Due Diligence services to Whistl on three previous acquisitions, we were delighted to once again work with Paul and the HMT team, who provided an efficient and timely process for all parties involved to add Clientbase to the Whistl family.”

Paul Read commented:

“We are delighted to have advised Whistl on another acquisition, with the acquisition of Clientbase Fulfilment assisting in their growth and expansion into fulfilment centre services and further strengthening their position as the UK’s leading delivery management services company.  Online shopping continues to grow, and the combination of Clientbase and Whistl’s expertise will enable the company to provide the necessary resource to meet this increasing demand.”