4Wall agrees in principle to purchase assets of HSL Group
- Details
UK - 4Wall Entertainment, a US-based provider of lighting and video rentals, sales, and services, has reached an agreement in principle to acquire the assets of HSL Group Holdings Ltd. of Blackburn, UK.
As part of the agreement, the majority of HSL's staff would remain on-board and the facility and location would be rebranded as 4Wall UK, creating the first international presence for 4Wall. The company currently has 10 locations in the US.
Under the agreement current HSL MD Simon Stuart would lead the sales team of the UK branch, assuming the role of VP of Business Development for 4Wall UK. The entirety of the HSL sales team is expected to move forward with the 4Wall branch as well, continuing to serve their current customer bases while also pursuing new business.
Simon Stuart comments: "I've been very public about the financial stress HSL had found itself in recently. By joining 4Wall, we have found a family who appreciates our people as much as our equipment and our facility. This new family ensures the long-term stability of our location, while also giving us the ability to grow faster than we could have ever imagined under the HSL banner."
4Wall and HSL had previously worked together on concert touring acts traveling between the two countries, creating a natural partnership between key employees and even customers that will be strengthened moving forward.
4Wall COO Wes Bailey adds: "We've worked with the HSL team over the past few years and we know that they hold the same values as us when it comes to quality gear and amazing customer service. We have often said that we wouldn't expand into the international market unless the right opportunity came up. HSL is that opportunity. The staff is hardworking and knowledgeable, the equipment is impeccable, and they are primed to grow exponentially with our system and structure in place behind them."
The new 4Wall UK would take advantage of the current 165,000 sq. ft. building HSL currently inhabits, which includes large prep areas, training facilities, WYSIWIG suites, and more. "We are excited to inherit as part of this deal a fantastic facility for our clients both current and future to call home in the UK," Bailey said.
The purchase is expected to be completed during April, and HSL will continue to remain open for business throughout the integration process.
(LSi Online)
