Aquiline Capital Partners LLC entered into an agreement to acquire HSM Ltd. from Jaywing plc (AIM:JWNG) for £0.5 million on November 19, 2018. HSM ltd. will be sold on a cash free, debt free basis. In addition, Jaywing has entered into a three-year services agreement with Aquiline. The services agreement will provide Jaywing with a minimum of £0.36 million during the three-year period. HSM recorded £6.03 million of revenue and an EBITDA of £0.14 million and a loss before tax of £0.03 million for the year ended March 31, 2018. As at March 31, 2018, HSM had net assets of £1.2 million. Completion of the sale is conditional on receipt of Financial Conduct Authority consent regarding the change of control, which is expected to be obtained within 30 working days. Nicholas Wells and Callum Davidson of Cenkos Securities plc acted as financial advisors to Jaywing. Squire Patton Boggs (US) LLP acted as legal advisor to Aquiline Capital in the transaction. Aquiline Capital Partners LLC completed the acquisition of HSM Ltd. from Jaywing plc (AIM:JWNG) on January 10, 2019.