The structure of the split is that the new Operator will take on Neil’s Dartford customers whilst Neil keeps his Sevenoaks customers.

Splitting businesses in this way is a three-way win for all the parties involved:

• Neil realises a substantial cash sum and in the process streamlines his business to increase his focus on his core geographic area, which we know maximises ongoing financial returns.
• The new Operator buys a franchise including the foundation of a group of high quality customers, with Neil nearby to help him with any transitional issues. As a result he can be profitable from day one and reduce the risks of start-up.
• Ed’s gets a new Operator in Dartford. This is another building block in growing the Ed’s brand, which we know has far-reaching benefits across the whole of the network.

Neil has applied the same commitment, professionalism and enthusiasm to successfully completing this transaction as he has to growing his Ed’s business. We wish both parties all the very best in the next stage.