deals update 21 Latest deals data from across the region Haldanes Retail Group acquisition of Netto Stores


Target: Netto Stores Acquirer: Haldanes Retail Group Deal Value: Undisclosed


Details: HMT Corporate Finance, led by partner Andrew Thomson and associate director Catherine Jones, advised Haldanes Retail Group in its acquisition of 20 new supermarkets trading as Netto. This follows the acquisition of Netto Stores (UK) by Asda and almost doubles Haldanes’ portfolio of stores. The new stores will be operated under a new brand ’UGO’


Corporate Finance Advisers: HMT Corporate Finance Sale of Kell Systems


Completion Date: 15/04/2011 Target: Kell Systems Acquirer: Scheider Electric (UK) Deal Value: Confidential


Details: Acted on behalf of 24 selling shareholders on disposal of entire issued share capital of Kell Systems Funding: Working capital of purchasers Corporate Finance Advisers: Grant Thornton Legal Advisers: Pitmans, Pinsent Masons Financial Due Diligence: N/A Commercial Due Diligence: N/A


Oddbins


Completion Date: 04/2011 Target: Oddbins Acquirer: European Food Brokers Deal Value: Undisclosed


Details: Sale of certain trade and assets of Oddbins (in admin- istration) Funding: N/A Corporate Finance Advisers: Spectrum Corporate Finance LLP Legal Advisers: N/A Financial Due Diligence: N/A Commercial Due Diligence: N/A


Sale of Longacre Homecare


Completion Date: 15/04/2011 Target: Longacre Homecare Acquirer: Encara Finance Deal Value: Confidential


Details: Disposal of business and assets of Longacre Homecare to Encara Finance Funding: HSBC Corporate Finance Advisers: BDO Legal Advisers: Pitmans, Shoosmiths


Daler Rowney


Completion Date: 03/2011 Acquirer: Daler Rowney Deal Value: Undisclosed


Details: Lloyds Bank Acquisition Finance Unit and Lloyds Bank Corporate Markets (Reading) have supported the Electra-backed primary buyout of Daler Rowney with a term loan and rotating credit facility. Daler Rowney is the world’s second-largest manu- facturer and distributor of fine art materials


Funding: Lloyds Bank Corporate Markets (Reading) THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JUNE 2011


Completion Date: 04/2011 Target: Attimore Veterinary Group Acquirer: CVS (UK) Deal Value: Confidential


Details: Disposal of the Attimore Veterinary Group, a five-site veterinary practice, to CVS (UK)


Funding: N/A Corporate Finance Advisers: WH Ireland


Legal Advisers: Charles Russell LLP for the sellers, Blake Lapthorn for the purchaser Financial Due Diligence: N/A Commercial Due Diligence: N/A


Disposal of Basildon Chemical Company


Completion Date: 04/2011 Target: KCC Corporation Acquirer: Basildon Chemicals Deal Value: Undisclosed


Details: HMT Corporate Finance, led by partner Andrew Thom- son, advised the shareholders of Basildon Chemical Company, a leading specialist manufacturer of silicone emulsions and compounds, on the disposal to KCC Corporation, an international chemical manufacturer based in South Korea. HMT led a competi- tive sales process which resulted in realising maximum value for the shareholders


Corporate Finance Advisers: HMT Corporate Finance Legal Advisers: White and Black Legal, Linklaters Financial Due Diligence: PwC Samil


Bristol Cars


Completion Date: 15/04/2011 Target: Bristol Cars and Bristol Cars Services Acquirer: Kamkorp Autokraft Deal Value: Confidential


Details: Kamkorp Autokraft, part of the Frazer-Nash group of companies, advised by Pitmans LLP, has acquired the goodwill and assets of Bristol Cars and Bristol Cars Services


Funding: Private Equity Corporate Finance Advisers: RSM Tenon, Marlow Legal Advisers: Pitmans Financial Due Diligence: N/A Commercial Due Diligence: N/A


Hall & Woodhouse


Completion Date: 04/2011 Target: N/A Acquirer: N/A Deal Value: £65 million


Details: Refinance of Hall & Woodhouse, the independent family brewer based in Blandford Dorset. Hall & Woodhouse were established in 1777 and now operate from over 260 tenanted and managed houses along the south coast from Devon to Kent


Funding: Barclays, HSBC and Lloyds Bank Corporate Markets Corporate Finance Advisers: N/A Legal Advisers: Osborne Clark Financial Due Diligence: N/A Commercial Due Diligence: N/A


Project Gold Completion Date: 20/04/2011


Target: Detection Systems Operations of General Dynamics Armament and Technical Products Acquirer: Chemring Group plc Deal Value: £55.2 million


Details: PwC provided financial due diligence to Chemring in relation to the acquisition of the Detection Systems Operations and certain assets of GDATP, a subsidiary of General Dynamics Corporation


Funding: Placing Corporate Finance Advisers: N/A Legal Advisers: DLA Piper Financial Due Diligence: PwC Commercial Due Diligence: N/A


Hallmark Hotels acqusition


Target: Aerodrome Hotel Acquirer: Hallmark Hotels Deal Value: Undisclosed


Details: HMT Corporate Finance, led by partner Andrew Thomson, introduced the Hallmark Hotels Group, backed by Palatine Private Equity, to the opportunity to acquire the Aerodrome Hotel based in Croydon, for an undisclosed sum. HMT both sourced the opportunity and advised Hallmark throughout the negotiations with the vendors. Palatine estab- lished the Hallmark Hotels Group in October 2007 with the aim of acquiring underperforming three-star hotels and converting them into four-star luxury hotels. The Aerodrome is the eighth to be acquired by the Group


Funding: Palatine Private Equity Corporate Finance Advisers: HMT Corporate Finance


Next Deadline


The next Deals Update will appear in our July/August 2011 issue


Deadline for submissions is Wednesday June 8


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


www.businessmag.co.uk Attimore Gooch & Housego plc acquisition


Completion Date: 04/2011 Target: Crystal Technology LLC Acquirer: Gooch & Housego Deal Value: $13.75 million


Details: HMT Corporate Finance, led by partner Peter Barrand and assistant director Catherine Jones provided both corporate finance and due diligence services to Gooch & Housego on its acquisition of Crystal Technology, a Californian-based manufacturer of acou- sto-optic, electro-optic and fibre optic components and systems, and oxide single crystal materials for optical applications. The total consideration of $13.75m is being funded through a combination of cash and new bank debt provided by the company’s bankers, Royal Bank of Scotland


Corporate Finance Advisers: HMT Corporate Finance Financial Due Diligence: HMT Corporate Finance


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