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DEAL DIRECTORY MANAGEMENT BUY-OUTS/RAISING FINANCE
KEY CAPITAL PARTNERS BACKS SABOTAGE BIMBO
Cambridge-based private equity appointed by KCP to provide due
firm Key Capital Partners (KCP) diligence on Fly53. The team was
Management buy-out of Sabotage
has invested £3.6 million in the led by managing director Patrick
buy-in management buy-out of Woodall and senior consultant
fashion business Sabotage. Sophie Pearce.
Founded by Will Rigg, Woodall said, “We undertook
This announcement appears as a matter of record only
Worcester-based Sabotage a rapid assessment of the
trades as Fly53 and supplies Fly53 offer, encompassing the
Commercial due diligence provider:
independent, online and multiple market, concept, business plan
fashion retailers. and key sensitivities for the
Rigg is joined by an MBI team company going forward. Our
comprising managing partner recommendations enabled Key
Simon Smith and FD John Bailey. Capital Partners to be confident
Legal adviser to the Vendor (Will Rigg):
KCP partner Mike Fell also joins about the future growth potential
the board of Sabotage as a non- of the business.”
executive director. Other advisers include Harrison
Pragma Consulting was Clark and Cobbetts LLP. ■
ASSOCIATED ENGINEERING SERVICES IN MBO
Northampton-based Associated transaction in an extremely
Engineering Services (AES) has difficult debt market.”
Management buy-out of Associated
been bought by its management Legal adviser to the
in a deal led by managing management team was Andrew
Engineering Services Limited
director Paul Leeson, James Kerr, head of the company and
This announcement appears as a matter of record only
Harman and Phil Mitchell. commercial department at Borneos
The terms of the deal were Solicitors. Kerr said, “Contrary to
Lead adviser to management:
not disclosed. press reports, banks are still
Rabby Persaud and Craig lending to businesses provided
Chamberlain led the MacIntyre they are well managed. In the case
Hudson Corporate Finance team of AES, the new owners have
who helped to structure the deal already been involved in the
Legal adviser to the acquirer:
and secure funding. Persaud management of the company for
commented, “Our team’s track quite some time, which will
record and experience was undoubtedly ease the transitional
paramount in us being able to period following the retirement of
source and secure lending for the the sellers from the business.” ■
WARWICK EFFECT POLYMERS IN FUNDING ROUND
Warwick Effect Polymers (WEP), Dr Richard Palmer, executive
a polymer technology company, chairman of WEP, commented,
has raised £1 million from º“We are very pleased to have
Warwick Effect Polymers receives
new and existing investors secured this investment from
funding
including Catapult Venture Catapult, and the continued
Managers, Mercia Technology support from our existing
This announcement appears as a matter of record only
Seed Fund and Oxford investors in these difficult
Funding provided by:
Technology VCT. investment markets.”
WEP is a University of Graham Mold, Catapult
Warwick spin-out that supplies director, said, “WEP has a
its biopolymer technology number of evaluation deals
PolyPEG to pharmaceutical and on a variety of drugs with
biotechnology companies. highly reputable global
Catapult led the funding players and the first licence
round, with an investment is expected to be signed
of £600,000. this year.” ■
52 Mergers & Acquisitions
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