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DEAL DIRECTORY MANAGEMENT BUY-INS/OUTS
LANGLEY’S GROWTH PLANS GO THROUGH THE ROOF
Langley Waterproofing member of Haslers Corporate
Systems, a design and Finance team, said, “We
Management buy-out of
solutions provider serving negotiated the deal structure
Langley Waterproofing Systems Ltd
the roofing industry with the vendors, sourced the
(predominantly working on debt funding and coordinated
public sector refurbishment the transaction over a 12-
This announcement appears as a matter of record only
projects in London) has been month period through what
Lead corporate finance adviser to the acquirers: bought by its management for has been described as the
an undisclosed sum. most difficult banking
The buy-out of the Daventry environment we have seen for
concern was led by Tony a number of years.”
Silvestri, who plans to Langley was established
Legal adviser to the vendor:
expand the business by in the 1920s and has several
winning contracts for more district councils, Anglia
commercial work and projects University and the Yorkshire
outside London. Building Society on
Dominic Dumville, a key its books.■
ACUITY ADDS FLAVOUR TO ICE CREAM BUY-OUT
A luxury ice cream maker in sold by Gareth Roberts and
Hill Station
Wales has been freed from Paul Ellison at Tenon Recovery
buy-out
administration after its new in a deal that included two of
managing director bought its subsidiaries.
the business. Acuity was advised by John
This announcement appears as a matter of record only
Hill Station, which includes Riddick in the Newbury office of
Legal adviser to the management team: Yorkshire Dales, Thayers and law firm Thomas Eggar LLP.
Granelli among its brands, was Riddick said that since helping
acquired by David Levelle and to close the deal, the new owners
venture capitalist Acuity Capital, have retained the firm as an
who formed Loseley Dairy Ice adviser. “Thomas Eggar is
Cream to complete the deal. pleased to have helped Acuity
The AIM-listed Cwmbran and, more significantly, ensured
company was put into that many jobs at the company
administration after racking are now in safe hands in what are
up debts of £6 million. It was difficult economic times.” ■
CRESCENT BACKS NISOFT BUY-OUT
NiSoft, a Belfast-based provider of Crescent received legal advice
safety management document on the terms of its investment by
Management
systems, has been bought by its a team from its existing solicitor,
buy-out of NiSoft
management in a deal that Mills Selig. The firm was led on
includes its US subsidiary. the deal by senior solicitor Chris
The buy-out was led by chief Guy, who was assisted by Andrew
This announcement appears as a matter of record only
executive Doug Deardorf, who Gilliland and Kathryn Walls from
Funding provided by: invested in the transaction its corporate team and property
alongside private equity firm specialist Gary Rocks.
Crescent Capital. Guy said Mills Selig has
NiSoft, which provides its acted for Crescent on some
systems to power stations and oil of its previous investments:
Legal adviser to the funder:
refineries around the world, was “Crescent’s backing of NiSoft
bought for an undisclosed sum. adds another exciting company
Deardorf now intends to develop to its portfolio and gives Doug
the company with managing Deardorf the opportunity to grow
director Colin Walsh. the business.” ■
60 Mergers & Acquisitions
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