36 deals update Latest deals data from across the region
MBO Lymington Precision Engineers
Completion Date: 02/2011 Target: LPE (Lymington) t/a Lymington Precision Engineers Acquirer: Lymington Precision Engineering (Newco) Deal Value: Undisclosed
Details: Paris Smith, led by Douglas Cooper and Richard Swain advised management on their management buyout of the entire issued share capital of LPE. LPE, established in 1980, is a leading manufacturer of precision machined components, fabrications, assemblies and kit sets for the telecommunications, defence, oil, space, medical and marine industries
Funding: Backed by Vine Street Capital
Legal Advisers: Paris Smith LLP (Douglas Cooper and Richard Swain) acted for management
Northbrook College Completion Date: 03/2011
Details: Led by relationship director Alan Bark and supported by Ashley Branch of the Barclays Corporate team based in Oxford, Barclays Capital has provided a £5.2 million finance package to Northbrook College Sussex to support the college in its plans to redevelop the Broadwater campus in Worthing and restructure existing borrow- ing. As part of the deal, the college has committed its day-to-day banking to Barclays
Legal Advisers: Solicitors – Eversheds Wassen
Completion Date: 28/02/2011 Target: Refinance Acquirer: Vital Health Foods Deal Value: Not disclosed Funding: HSBC – sole bank (Andrew Waller & Richard Povey)
Project Field
Completion Date: 28/03/2011 Target: Refinance Acquirer: Management Deal Value: £36 million
Details: Refinance of existing loan notes and bank debt, backing the existing highly-succesful and experienced management team Funding: HSBC – sole bank (Richard Povey & Paul Sharp) Corporate Finance Advisers: Deloitte & Touche Financial Due Diligence: KPMG Commercial Due Diligence: Deloitte
The British Geographical Survey (BGS)
Completion Date: 03/2011 Target: The British Geographical Survey (BGS) Acquirer: PANalytical Deal Value: Not disclosed
Details: Rob Jonckheer, Richard Stevens and Leanne Warren acted for The British Geographical Survey (BGS) on the sale of its XRF laboratory facilities to PANalytical. BGS is a component body of the Natural Environment Research Council (NERC), the nation’s principal supplier of objective, impartial and up-to-date geological expertise and information for decision making for governmental, commercial and individual users
Legal Advisers: Manches
www.businessmag.co.uk Completion Date: 03/2011
Details: The Barclays Corporate team based in Apex Plaza, led by relationship director Phil Edwards has provided funding to Halestyle (London) to finance a residential development scheme in Covent Garden
Funding: Undisclosed Legal Advisers: Osborne Clarke for Barclays, Pitmans for Halestyle Commercial Due Diligence: Cluttons
Sale and purchase of Millstone Communications
Completion Date: 08/04/2011 Target: Millstone Communications Acquirer: Mosto SA Deal Value: Undisclosed
Details: Sale and purchase of the entire issued share capital of Millstone Communications
Funding: None Corporate Finance Advisers: None
Legal Advisers: Thomas Eggar LLP for the vendors. Mishcon de Reya for the purchaser
Next Deadline
The next Deals Update will appear in our June 2011 issue
Deadline for submissions is Wednesday May 11
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
THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – MAY 2011 Project Exeter
Completion Date: 02/2011 Target: Churcher Homecare Deal Value: Undisclosed
Details: Coffin Mew recently acted for a private investor in his investment into construction specialist, Churcher Homecare Corporate Finance Advisers: Menzies LLP
Legal Advisers: Amanda Brockwell and Lynne Beasant of Coffin Mew LLP
Wallacesacks.com
Completion Date: 31/03/2011 Target: Online business and assets of
Wallacesacks.com Acquirer: The Diverse Investment (London) Group Deal Value: Undisclosed
Details: Sale and purchase of the online business and assets of
Wallacesacks.com from Wallace Sacks Funding: None Corporate Finance Advisers: None Legal Advisers: Thomas Eggar LLP for purchaser
Halestyle (London) Sale of Leyton Fern & Co
Completion Date: 03/2011 Target: Leyton Fern & Co Acquirer: Newlands Coffee Deal Value: Undisclosed Details: Sale of the entire issued share capital of Leyton Fern & Co Funding: None Corporate Finance Advisers: None
Legal Advisers: Thomas Eggar LLP for vendors. Steele Raymond for the purchaser
Hawk-Eye Innovations
Completion Date: 01/04/2011 Target: Hawk-Eye Innovations Acquirer: Sony Professional Solutions Europe Deal Value: Not disclosed
Details: Cavendish was appointed by Mark Getty to sell Hawk-Eye. The sale process was run on a global basis through seamless co- operation with our alliance partners in M&A International. Offers were received from a number of multi-billion dollar corporations with Sony emerging as the preferred bidder
Funding: N/A
Corporate Finance Advisers: Cavendish adviser to vendor, Ernst & Young adviser to purchaser
Legal Advisers: Charles Russell to vendor, Baker Mackenzie to purchaser Financial Due Diligence: Ernst & Young Commercial Due Diligence: N/A
Glenside
Completion Date: 03/2011 Target: Glenside Acquirer: Bowmark Capital Deal Value: Undisclosed
Details: Spectrum successfully supported Bowmark Capital in the management buyout of Glenside Funding: Bowmark Capital and RBS Corporate Finance Advisers: Spectrum Corporate Finance LLP Legal Advisers: Shoosmiths Financial Due Diligence: Hazlewoods Commercial Due Diligence: Candesic
Project Renoir
Completion Date: 28/03/2011 Target: Longbeach Arts Acquirer: Renoir Topco Deal Value: Confidential
Details: Osborne Clarke (Sara Valentine/Sarah Wyatt) acted for the sellers/management team of Longbeach Arts/Daler-Rowney in connection with the management buyout of Longbeach Arts by Renoir Topco, which was funded by Electra and Lloyds TSB Bank plc
Corporate Finance Advisers: Savigny Partners
Legal Advisers: Osborne Clarke (Sara Valentine/Sarah Wyatt). Ashurst (David Carter/Nicola McKenzie) Other advisers: Deloitte (Claire Webster/Oscar Wingham)
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