28 deals update Latest deals data from across the region
Stewart Plastics
Completion Date: 16/06/2011 Target: Stewart Group Holdings Acquirer: ECI Partners LLP Deal Value: £17 million
Details: ECI, the leading UK mid-market private equity specialist, invested £12m in Croydon-based Stewart Group Holdings in a BIMBO that values the business at £17m
Funding: Private Equity Corporate Finance Advisers: BDO LLP Legal Advisers: SJ Berwin LLP, Eversheds LLP and ASB Law LLP Financial Due Diligence: KPMG Reading
Nexeon series ’C’ refinancing
Completion Date: 07/2011 Deal Value: £40 million
Details: Rob Hayes led the Manches team who acted for Nexeon on its £40m series ’C’ investment funding round by Imperial Innovations and Invesco Perpetual
Funding: Imperial Innovations and Invesco Perpetual Legal Advisers: Manches; Osborne Clarke (for the investors)
EOG fundraising Completion Date: 07/2011
Details: Charles Russell LLP advised AIM-listed Europa Oil & Gas (Holdings) plc on its £2.1 million cash placing. A condition of the placing was completion of a $1.6m loan note issued to YA Global Master SPV and a £5m standby equity agreement also with Yorkville
Corporate Finance Advisers: finnCap
Legal Advisers: Charles Russell LLP for EOG; Field Fisher Water- house for finnCap
Acquisition of Wireless Logic
Completion Date: 16/08/2011 Target: Wireless Logic Acquirer: ECI Partners LLP Deal Value: £35 million
Details: PwC Corporate Finance and Transaction Services advised ECI Partners on the acquisition of Wireless Logic, Marlow-based machine-to-machine communication devices producer. The owner of Wireless Logic is the UK-based entrepreneur, Peter Jones, who acquired the business back in 2002
Corporate Finance Advisers: PwC (advisers to ECI)
Legal Advisers: Osborne Clarke (Wireless Logic), Burgess Salmon (ECI) Financial Due Diligence: PwC (ECI) Commercial Due Diligence: PwC (ECI)
Sale of Halyard (M&I)
Completion Date: 04/08/2011 Target: Halyard (M&I) Acquirer: Aegeus Marine Deal Value: Undisclosed
Details: Sale and purchase of Halyard (M&I), a company specialising in the manufacture of exhaust silencing, vibration and noise controls for marine engines, to Aegeus Marine
Funding: N/A
Legal Advisers: Thomas Eggar LLP for the vendors; SNR Denton UK LLP for the purchaser
www.businessmag.co.uk
Completion Date: 01/08/2011 Target: MeetingZone Acquirer: GMT Communications Partners LLP Deal Value: £38.5 million
Details: GMT Communications Partners, the European TMT- focused private equity group teamed up with management to acquire MeetingZone, the fast-growing independent conferencing and collaboration service provider, for a total consideration of £38.5m
Funding: Private Equity Corporate Finance Advisers: KPMG LLP Legal Advisers: DLA Piper Financial Due Diligence: E&Y Commercial Due Diligence: E&Y
Sale of Card Processing Solutions
Completion Date: 14/07/2011 Target: Card Processing Solutions Acquirer: XLN Telecom (No.1) Deal Value: Undisclosed
Details: Sale and purchase of Card Processing Solutions, a company providing credit and debit card facilities to XLN Telecom (No. 1), part of the XLN group, a provider of telecoms solutions to small businesses
Funding: N/A Corporate Finance Advisers: Alistair Britton, Clayton Ventures
Legal Advisers: Thomas Eggar LLP for the vendors; Squire, Sand- ers & Dempsey (UK) LLP for the purchaser Financial Due Diligence: BDO LLP
we7 funding round Deal Value: Not disclosed
Details: Patrick Baddeley acted on the funding round for we7 led by Eden Ventures, Pentech Ventures and Qualcomm Inc Legal Advisers: Manches
Country Greenhouses
Completion Date: 07/2011 Target: Country Greenhouses Acquirer: Alitex Deal Value: Undisclosed
Details: Amanda Brockwell at Coffin Mew LLP has recently assisted Alitex with the acquisition of Country Greenhouses
Legal Advisers: Amanda Brockwell of Coffin Mew for the buyer; Tom Smitham of Charles Russell for the seller
Project Freeze
Completion Date: 08/2011 Target: Frutina Acquirer: Slush Puppie Deal Value: Undisclosed
Details: The corporate team at south coast law firm Coffin Mew LLP, has advised the shareholders of Frutina in the disposal of the entire share capital of the company to Slush Puppie
Funding: NatWest and RBSIF
Legal Advisers: Amanda Brockwell and Lucy Grey, with support from Owen Santry of Coffin Mew for the sellers; Sarah Walton of Weightmans for the buyer
Next Deadline
The next Deals Update will appear in our November 2011 issue
Deadline for submissions is Wednesday Oct 12
Submissions are free. If you would like to submit deal information or to advertise on this page contact:
Tanya Liddiard 0118-9766411
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 – OCTOBER 2011 Project Warwick Completion Date: 08/2011
Details: Barclays Corporate, led by retail & wholesale relationship director Ian Corben, completed loan funding to successful kitchen manufacturers/retailers, John Lewis of Hungerford plc, to allow the firm to purchase the freehold premises of one of their showrooms in the Thames Valley
Funding: Barclays Corporate
Legal Advisers: Simon Alldis of Woolley Bevis Diplock LLP, Brighton
Chancellors Group
Completion Date: 07/2011 Target: Chancellor and Sons Acquirer: Chancellors Group of Estate Agents Deal Value: Not disclosed
Details: Rob Hayes acted for The Chancellors Group on the acquisition of a new estate agency branch in Camberley Legal Advisers: Manches LLP
Sale of Lightech to GE Lighting
Completion Date: 13/09/2011 Target: Lightech Acquirer: GE Lighting Deal Value: Not disclosed
Details: Cavendish was appointed in June 2010 following the introduction of Lightech’s latest range of LED specific power supply products. The lead partner was Joe Stelzer, chief operating officer and technology partner at Cavendish
Project Amphora
Completion Date: 22/08/2011 Target: Attenda Acquirer: Darwin PE and existing management Deal Value: £50 million
Details: Thames Valley CBC have announced HSBC’s support for the Darwin Private Equity backed buyout of Attenda Group, a leading pure-play provider of IT managed service solutions to 100+ mid-sized enterprise and independent software vendor clients worldwide. Total debt was arranged on a two-bank club basis alongside Investec which consisted of term debt, a revolving credit facility and equipment finance (solely provided by HSBC Equipment Finance). This was already an existing HSBC name and is managed by Andrew Waller, relationship manager
Funding: Undisclosed Corporate Finance Advisers: Investec Advisory Legal Advisers: DLA Piper Financial Due Diligence: Grant Thornton Commercial Due Diligence: CIL
John Lewis, Hungerford
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