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DEAL DIRECTORY ACQUISITIONS
WALSTEAD CLOSES WYNDEHAM DEAL
Walstead Investments has company’s working capital and
acquired UK print giant restructure its debt burden, which
Wyndeham Press Group in a deal was provided by Landsbanki.
Walstead Investments
that brings the print business Wyndeham is headquartered in
acquisition of Wyndeham Press Group
back into British ownership. Essex and has a reported turnover
The investment company was of £80 million, making it the third-
This announcement appears as a matter of record only established to acquire Wyndeham largest print business in the UK.
from its Icelandic investors with The company is expected to return
Funding provided by:
the backing of Leumi ABL, the to profitability this year.
asset-based lending subsidiary of Woodward said, “We have
Bank Leumi (UK) Plc. worked with Walstead on other
Leumi ABL, led by MD Phil transactions, so they knew we
Woodward, provided a £19.6 could act quickly to structure
Legal adviser to the acquirer:
million facility consisting of the right deal. The timescales were
confidential invoice discounting challenging but we were able to go
and plant and machinery finance. from introduction to completion in
The funds will boost the under four weeks.” ■
SNELL & WILCOX AND PRO-BEL IN MBO
UK technology companies Snell & Holdings on the sale of its share
Wilcox and Pro-Bel have merged in capital, and on the company’s
a £72 million management buy-out reinvestments within the
Snell & Wilcox and Pro-Bel merger
led by Snell & Wilcox CEO Simon combined entity.
Derry and FD Peter Fredericks, as Sean Kelly and Paula Eckton,
well as former Pro-Bel CEO partners in the corporate team,
This announcement appears as a matter of record only Graham Pitman, who becomes commented, “Lamport Bassitt’s
deputy chairman. experience in this type of
Legal adviser to ProBel:
The deal was backed by transaction, together with a good
HSBC and the Royal Bank of existing relationship with the
Scotland. Other investors client, enabled the team to provide
include Lloyds TSB Development its advice with speed, focus and
Capital (LDC), existing investor commerciality assisting the
Funding Provided by:
Advent Venture Partners and the transaction through to conclusion.”
management team. Other advisers on the deal
Southampton-based law firm included professional services firm
Lamport Bassitt acted for Pro-Bel PricewaterhouseCoopers. ■
DUO BUY BOLTON CARE HOME
Peter and Claire McGailey have standard of care in a homely
acquired Lyngate Care Home in environment.”
Peter and Claire McGailey
Bolton in a £1.4 million deal Dickson Haslam provided
backed by the Royal Bank of legal advice to RBS. Dominic
acquire Lyngate Care Home
Scotland (RBS). Hester, the partner who led
The husband and wife team the transaction, commented,
This announcement appears as a matter of record only
have a track record in the care “My role was to oversee the
Legal adviser to RBS:
home sector, previously owning transaction to ensure that RBS’s
Majestic Care Home in interests were fully protected.
Blackpool. They have plans to “The deal was unusual
develop the Victorian property, because completion was delayed
which can accommodate up to until after 1 October 2008,
41 residents. which meant that we were able
Finance provider to acquirer:
Peter McGailey said, “There is to take advantage of changes to
a strong demand for residential the ‘whitewash procedure’
care in Bolton and our aim is to introduced by the Companies
provide residents with a high Act 2006.” ■
48 Mergers & Acquisitions
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