deals update 15 Latest deals data from across the region MBO of Fibercore from Cisco
Completion Date: 16/02/2011 Target: Fibercore Acquirer: HIG Europe Deal Value: Not disclosed
Details: MBO of Fibercore from Cisco. Fibercore manufactures and designs specialty optical fibre for customers globally within the aerospace, defence and telecommunications industries. Fibercore’s products are central to the navigation systems used on platforms including airliners, business jets, helicopters, satellites and space vehicles
Funding: HIG Europe (Debt & Equity)
Corporate Finance Advisers: BDO Corporate Finance (South- ampton) (Paul Russell & Richard Kelman) Legal Advisers (NewCo): SJ Berwin (London) (Perry Yam)
Legal Advisers (Management): Paris Smith (Southampton) (Andrew Heathcock)
Financial Due Diligence: BDO Corporate Finance (Southampton) (Darren Phillips) Commercial Due Diligence: N/A
Williams Grand Prix Holdings plc IPO
Completion Date: 03/2011 Deal Value: €250 million
Details: Manches (David Tighe, Patrick Baddeley, James Went and Richard Stevens) acted for Williams Grand Prix Holdings plc on its listing on the Frankfurt Stock Exchange. The IPO included an offering of 2,409,383 shares with an initial listing price of €25.25 per share, giving a market capitalisation for Williams on listing of €250m
Legal Advisers: Manches Financial Due Diligence: Grant Thornton
Project Leek
Completion Date: 02/2011 Target: Harris Brothers Tyres Acquirer: Micheldever Tyres Deal Value: Not disclosed
Details: RSM Tenon Corporate Finance undertook financial due diligence on Harris Brothers on behalf of Micheldever Tyres Legal Advisers: Thomas Eggar Financial Due Diligence: RSM Tenon – Nick Willams
Project Raven
Completion Date: 11/02/2011 Target: The security division of Redstone Managed Solutions Acquirer: RMS Managed ICT Security (RMS) Deal Value: Not disclosed
Details: Transcend Corporate Finance has advised Newco, RMS, on the buyout of the security division of Redstone Managed Solutions. RMS trades as a specialist provider of IT security, offering solutions in anti-virus, firewall, access and data-loss prevention. RMS has partnerships with leading vendors including CA, Checkpoint, Microsoft, McAfee, and Sophos
Funding: Venture Finance, Birmingham office (Guy Walsh) Corporate Finance Advisers: Transcend Corporate (Ian Aldridge) Legal Advisers: Ansons LLP (Jas Singh) Financial Due Diligence: N/A Commercial Due Diligence: N/A
THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – APRIL 2011
Completion Date: 02/2011 Target: N/A Acquirer: N/A Deal Value: £165 million
Details: Working alongside HSBC Australia & HSBC Czech Republic, HSBC’s Thames Valley Corporate Banking Centre has announced its participation in Game’s core banking facilities. The funding for this deal demonstrates HSBC truly international capabilities
Funding: HSBC Thames Valley Corporate (Rachel Sauvé, Harry Jarman)
Corporate Finance Advisers: N/A Legal Advisers: N/A Financial Due Diligence: N/A Commercial Due Diligence: N/A
W Lucy acquisition of Zodion
Completion Date: 03/2011 Target: Zodion Acquirer: W Lucy & Co Deal Value: Confidential
Details: Aquisition of the business and assets of Zodion, a street lighting controls business based in Halifax, by W Lucy, a switch- gear and lighting manufacturer based in Thame, Oxfordshire
Funding: None Corporate Finance Advisers: None Legal Advisers: Manches (W Lucy), Shoosmiths (Zodion)
Aircom International
Completion Date: 02/2011 Target: Aircom International Acquirer: HIG Europe Deal Value: Not disclosed
Details: Aircom is the world’s largest independent provider of network planning and optimisation software and services to the mobile telecoms industry. Aircom estimates that every day, the top-20 global operators depend upon its tools and consultants to improve network coverage and service quality for more than 1.1 billion subscribers worldwide. The business was founded in 1995, is headquartered in Leatherhead in the UK and employs over 900 professionals spread across 14 offices worldwide servicing customers in 135 countries. Aircom is forecast to deliver over £90 million revenues in 2011
Funding: HSBC & Barclays provided debt financing Corporate Finance Advisers: Ernst & Young Legal Advisers: DLA Piper Financial Due Diligence: Ernst & Young Commercial Due Diligence: Analysys Mason
Moonray Healthcare
Completion Date: 02/2011 Target: Telehealth Solutions Acquirer: Moonray Healthcare Deal Value: Not disclosed
Details: RSM Tenon Corporate Finance undertook financial due diligence on Telehealth Solutions on behalf of Moonray Heathcare Legal Advisers: Beachcroft’s (Bristol)
Financial Due Diligence: RSM Tenon – Nick Willams and Rob Holmes
The Game Group
Completion Date: 02/2011 Target: Route2mobility Acquirer: Motability Operations Group plc Deal Value: Undisclosed
Details: Motability Operations Group, a not-for-profit company that runs the Motability Car and Powered Wheelchair and Scooter Schemes, acquired Route2mobility, a subsidiary of charitable trust company Enham. The acquisition of the remaining book of open policies allows Motability Operations Group to bring the service under one roof, freeing Enham to concentrate on core activities
Vendors: Enham Corporate Finance Advisers: Meridian Corporate Finance LLP Legal Advisers: Shoosmiths Due Diligence: PwC
Project Claymore
Completion Date: 28/02/2011 Target: Concept Group/Concept Group (Sales) Acquirer: Xerox Capital (Europe) Deal Value: Undisclosable
Legal Advisers: Osborne Clarke – Sara Valentine, partner/Sarah Wyatt, associate
Next Deadline
The next Deals Update will appear in our May 2011 issue
Deadline for submissions is Wednesday Apr 13
Submissions are free. If you would like to submit deal information or to advertise on this page contact:
Tanya Liddiard 0118-9745308
tanya@elcot.co.uk
Elcot Publications is not responsible for the accuracy of information in the deals update section which is supplied by individual firms
Route2mobility
Lloyds funds Leadbitter acquisition
The management of the Leadbitter Group and French contractor Bouygues Bâtiment International have completed the successful acquisition of the group from its Dutch owner Heijmans NV, thanks to a funding package provided by Lloyds Bank Corporate Markets. The deal, approved by the European Commission competition authorities, sees the management of Leadbitter Group, led by CEO Bob Rendell, acquire a 49% share of the business with Bouygues taking a strategic 51%. The acquisition enables the group to continue to increase its market share in its key sectors, aided by strong support and resources from Bouygues.
The competitively-priced lending package consists of a senior term loan, coupled with a working capital facility, and will give the new business the funding it requires to meet its growth ambitions.
www.businessmag.co.uk
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