VASANTA completes acquisition of YES2 Solutions
Vasanta has announced that it has formally agreed to enter into a transaction to secure the future of its important customer YES2 Solutions. This transaction means that YES2 will become a wholly owned subsidiary of the Vasanta Group.
The YES2 team, led by M.D. Steve Perry, have done a fantastic job in stabilising the business and improving profitability since the company that was formed after the merger of the GB and Winstonmead businesses encountered financial difficulties in 2011. Vasanta was heavily involved in supporting this process.
Steve Perry has, for some time however, recognised that YES2 would benefit from the support of a larger Group to ensure its future success, and, after a number of unsuccessful discussions with different parties, it was decided that Vasanta was the only viable acquirer of the business. YES2 will be managed by Steve Perry as a standalone company within the Vasanta Group.
Robert Baldrey, Vasanta Group CEO commented “We have, for some time, been exploring options with Steve Perry in order to secure the future potential of YES2 Solutions. In the absence of a viable alternative option, we have taken the difficult, but correct, decision to take control of YES2 Solutions. Ultimately, this decision is in the best interests of all of Vasanta’s customers and in particular of YES2’s loyal staff & customers.”
Steve Perry, MD of YES2 solutions commented “After a great deal of hard work and short term change, now is the right time to find a viable solution that will allow YES2 to plan further forwards into its future. After speaking to a number of different parties who expressed an interest, Vasanta is the only current viable option to achieve this aim.”