deals update 43
Latest deals data from across the region Fundraising by PlayJam
Digital Barriers plc acquires Zimiti
Target: Zimiti Acquirer: Digital Barriers plc Deal Value: £10 million
Details: BDO LLP and Osborne Clarke have assisted Digital Barriers plc in its acquisition of Zimiti. Zimiti focuses on the development of Unattended Ground Sensor technology, which is used in a range of surveillance and protective applications across both the defence and security sectors
Legal Advisers: Osborne Clarke Financial Due Diligence: BDO
Project Benjamin Blue Sky Access disposal
Completion Date: 10/2011 Target: Blue Sky Access Acquirer: Lavendon Group plc Deal Value: £7.4 million
Details: Osborne Clarke has advised the shareholders of powered access equipment designer Blue Sky Access (Blue Sky) on its sale to the Lavendon Group plc, the market leader in powered access equipment rental in Europe and the Middle East
Legal Advisers: Osborne Clarke (Blue Sky Access), Eversheds (Lavendon)
Completion Date: 7/10/2011 Target: Benefex Acquirer: Business Growth Fund plc Deal Value: £4.2 million
Details: Osborne Clarke has advised the Business Growth Fund on its first investment, a £4.2 m growth capital deal with employee services provider Benefex
Legal Advisers: Osborne Clarke (Business Growth Fund), Shoosmiths (Benefex)
Refinancing of Veryan Holdings
Completion Date: 10/2011 Deal Value: £5 million
MTI Technology acquires Global Secure Systems
Target: Global Secure Systems Acquirer: MTI Technology Deal Value: Undisclosed
Details: BDO LLP provided financial due diligence to MTI on its acquisition of Global Secure Systems (GSS). GSS is a specialist IT security consultancy which complements MTI’s infrastructure, storage, networking and virtualisation business
Funding: MTI funded from its own cash reserves Legal Advisers: DAC Beachcroft Financial Due Diligence: BDO
Completion Date: 26/10/2011 Acquirer: Sirigen Deal Value: $3 million
Details: UK Biomedical firm Sirigen has announced it has raised $3m of further finance, which it will use to support the commercialization of its High Sensitivity FluorescenceTM (HSFTM) amplification technology
Micheldever Group
Completion Date: 5/10/2011 Deal Value: £99 million
Details: New debt facilities to refinance existing lines and to assist funding of future acquisitions. The deal completed simultaneously with the acquisition on Tyreland a chain of 7 retail and wholesale branches in Dorset, Hampshire and Wiltshire
Funding: HSBC together with RBS, Santander and GE Capital
Legal Advisers: Daniel Bastide, Steven Clifford, Leon Arnold, Hayley Bevis, Nicola Burden, Sarah Naylor and Philip Gray of Thomas Eggar LLP for Micheldever Group DLA Piper UK LLP for the banks
Financial Due Diligence: KPMG Commercial Due Diligence: Armstrong Transaction Services
THE BUSINESS MAGAZINE – THAMES VALLEY – DECEMBER 11/JANUARY 12
Funding: YFM Equity partners Legal Advisers: Osborne Clarke
Treble B
Completion Date: 19/10/2011 Target: Treble B Tyres (Cymru) Acquirer: Micheldever Tyre Services Deal Value: Undisclosed
Details: Sale and purchase of Treble B Tyres (Cymru), a company specialising in the sale and fitting of tyres, motor parts and the servicing of motor vehicles
Legal Advisers: Thomas Eggar LLP for the Purchaser CooperBurnett Solicitors for the Vendors
Details: Manches LLP acted for the company led by Reading based partner Rob Hayes who was supported by associate, Elizabeth Yell. Veryan Holdings is a a clinical-stage medical devices company focused on a three dimensional vascular stent for peripheral vascular disease
Legal Advisers: Manches for Veryan Holdings Taylor Wessing for Investors (Imperial Innovations Businesses LLP and Seroba Kernal Life Sciences LP)
Sirigen
Completion Date: 10/10/2011 Deal Value: $5 million
Details: Mundays LLP acted for PlayJam, the leading social games network for TV, in relation to its recent fundraising by a syndicate of investors including Adobe, GameStop and Endeavour Ventures. Mark Andrew and Julian Harvey led the Mundays team assisted by Alexander Young and Fiona Moss
Legal Advisers: Mundays acted for PlayJam Digital Barriers plc acquires Keeneo SAS
Completion Date: 08/2011 Target: Keeneo SAS Acquirer: Digital Barriers plc Deal Value: €6.5 million
Details: BDO LLP and Osborne Clarke have assisted Digital Barriers plc in its acquisition of Keeneo SAS. Founded in 2005 as a spin-out from INRIA, a French research institute, Keeneo provides proprietary video analytics software solutions to the security, aviation, mass-transit, energy and industrial sectors from its base in Sophia-Antipolis, France
Legal Advisers: Osborne Clarke Financial Due Diligence: BDO
Market Town Taverns
Completion Date: 29/10/2011 Target: Market Town Taverns Acquirer: Heron & Brearley Deal Value: Undisclosed
Details: MTT runs 15 managed taverns in north and west Yorkshire specialising in high-quality cask ales, continental beers and quality wines coupled with good value brasserie style food in welcoming and well appointed/maintained locations in prime locations in the main towns and suburbs in it trading area
Funding: H&B exisiting resources/facilities
Corporate Finance Advisers: Miles Stanyard, H W Corporate Finance, Leeds
Legal Advisers: Paul Emmott, Emma Stubbs and Rebecca Whitehouse of Walker Morris in Leeds Commercial Due Diligence: In house by H&B
Airinmar Holdings
Completion Date: 11/10/2011 Target: Airinmar Holdings Acquirer: AAR Corp Deal Value: Non-disclosable
Details: AAR Corp has acquired Airinmar Holdings, an international provider of aircraft component repair management services. The newly-acquired business will operate as part of AAR’s Aviation Supply Chain segment
Legal Advisers: Osborne Clarke
Next Deadline
The next Deals Update will appear in our February 2012 issue
Deadline for submissions is Monday Jan 16
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
www.businessmag.co.uk
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