In January 2008, Fourth Hospitality acquired ABS Ltd. We asked Tony O’Shaughnessy, founder of ABS, to tell us more about the two companies joining.
“ABS and Fourth Hospitality had known each other for years and we’d always talked to each other about working together in partnership.
“ABS offered a trading platform and it was a natural fit to the marketplace that Fourth Hospitality was working in.
“The great thing about the two companies was that there was minimal overlap in what we both offered to our customers. When Fourth approached us about the acquisition, it made strategic sense from a product point of view.
“It also made sense for the ABS shareholders because we had been going for 19 years and it gave us the opportunity to do two things: to scale up the business and to allow the shareholders to realise and to capitalise on their holdings. These were the key reasons why the proposition could fly.”