deals update 21 Acquisition from Wood Group of Bournemouth Completion Date: 31/03/2012


Target: BMW and MINI vehicle dealership from Wood Group and Wood of Bournemouth


Acquirer: Ridgeway Garages (Newbury) Deal Value: Undisclosed


Details: Acquisition of the business and assets of certain BMW and MINI vehicle dealerships, including new and used passenger car and commercial vehicles sales, servicing, repairs, parts sales and ancillary activities, from Wood Group and Wood of Bournemouth


Funding: Arranged by the Royal Bank of Scotland plc


Legal Advisers: Pitmans LLP acting for Ridgeway Garages (Newbury) Financial Due Dilligence: Ridgeway Commercial Due Dilligence: Ridgeway


Management buyout of Spinlock


Completion Date: 03/2012 Target: Spinlock Acquirer: Spinlock management team Deal Value: Undisclosed


Details: Meridian Corporate Finance LLP advised Spinlock’s management team on their management buyout of the business. Based in Cowes, Isle of Wight Spinlock are a world leading designer and manufacturer of rope holding equipment for sailing boats from dinghies to the largest superyachts


Corporate Financial Advisers: Meridian Corporate Finance Legal Advisers: Trethowans LLP


Project Stadium


Completion Date: 03/2012 Target: MMF Acquirer: H Docherty Deal Value: Undisclosed Details: H Docherty acquisition of competitor MMF Funding: Natwest Bank (Andrew Matthews)


Corporate Financial Advisers: Haines Watts CF (Richard Hall & Steve Wicks)


Legal Advisers: Thomas Eggar for Bank (Sarah Naylor), Clifton Ingram for Predator (Bill Annan)


Financial Due Dilligence: RSM Tenon (Pete Wear & Rebecca Guerin)


Project Renoir


Completion Date: 28/03/2012 Target: Longbeach Arts Acquirer: Renoir Topco Deal Value: Undisclosed


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 Financial Advisers: Savigny Partners


Legal Advisers: Osborne Clarke (Sara Valentine/Sarah Wyatt) Ashurst (David Carter/Nicola McKenzie) Other Advisers: Deloitte (Claire Webster/Oscar Wingham)


THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – MAY 2012 Company Sale of Industrial Engineering Plastics


Target: Industrial Engineering and Plastics Acquirer: Foresight Private Equity Deal Value: Undisclosed


Details: Meridian Corporate Finance LLP advised the shareholders of Hampshire-based Industrial Engineering Plastics on the undisclosed sale of trade and assets to Foresight Private Equity. Industrial Engineering Plastics is a leading distributor and manufacturer of plastics to industry


Corporate Financial Advisers: Meridian Corporate Finance


Legal Advisers: Trethowans LLP (target); ASB Law LLP (acquirer)


Funding: Foresight Group LLP (Private Equity) Lloyds TSB Com- mercial Finance (Debt) Commercial Due Dilligence: Corporate Information Financial Due Dilligence: Wilkins Kennedy LLP


$10.8 million funding for Sefaira


Completion Date: 04/2012 Target: Sefaira Deal Value: $10.8 million


Details: Beanstalk Corporate Finance helped building energy efficiency software company Sefaira secure the largest series A funding round in the cleantech sector in the UK for over two years, with funding of $10.8m


Funding: Braemar Energy Ventures, Chrysalix SET and Hermes GPE


Corporate Financial Advisers: Beanstalk Corporate Finance Legal Advisers: SJ Berwin


Project Peach


Completion Date: 10/04/2012 Target: Camera Corps Acquirer: Vitec Investments Deal Value: Undisclosed


Details: Disposal of the entire issued share capital of Camera Corps to Vitec Investments. Camera Corps are a world leading provider of speciality remote camera systems used by broadcast- ers for capturing high quality images, particularly at major sporting events. Vitec Investments is a subsidiary of the Vitec Group plc, an international provider of products and services for the broadcast, photographic, and MAG (military, aerospace and government) markets


Corporate Financial Advisers: Grant Thornton UK LLP


Legal Advisers: Pitmans LLP acting for the shareholder of Camera Corps Financial Due Dilligence: KPMG Commercial Due Dilligence: Vitec


Management buyout of RMA Consulting


Completion Date: 03/2012 Target: RMA Consulting Acquirer: Newco Deal Value: Undisclosed


Details: Meridian Corporate Finance LLP advised Newco on the management buyout of Hampshire-based RMA Consulting. RMA Consulting is a design, innovation and development consultancy


Corporate Financial Advisers: Meridian Corporate Finance Legal Advisers: Shoosmiths


Next Deadline


The next Deals Update will appear in our June 2012 issue


Deadline for submissions is Monday May 14


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


Lucketts Travel increases fleet


Fareham-based award-winning family firm Lucketts Travel has added Coliseum Coaches to its business in a deal which will increase fleet numbers and provide additional customer choice.


Coliseum Coaches, based in Southampton, can trace its history back to the 1890s, and like Lucketts has always been run by the same family. Together the two companies have 200 years combined experience in the coach travel business.


With 12 coaches and 15 staff, Coliseum Coaches is a much smaller business than Lucketts, but driven by similar values. The company name and all staff will remain. The only noticeable change will be the addition of three new vehicles to the fleet under new the ownership arrangements. The Pitter family, previous owners of Coliseum Coaches, will continue to be a part of the company. Mark Pitter, son of former owner David, will stay as general manager to head the Southampton side of the business.


David Luckett, chairman of Lucketts Travel, said: “It’s a good deal for both family firms. It means we can expand our company and continue to offer even better value and flexibility. Coliseum operates a superb modern fleet and has a rich history in providing quality services in and around Southampton. It’s perfect fit with our own business and expansion plans.“


With a contract to transport Southampton Football Club, and other deals with leading tour operators, Coliseum Coaches is well regarded in the Southampton area. Last year its turnover was £1.3 million, a figure the new owners hope to build on.


With a fleet of 80 modern luxury coaches, Lucketts Travel – placed 183 on the Solent 250 list by The Business Magazine – is well known for offering luxury coach hire for the leisure, holiday and corporate markets. Its ability to weather the recent economic climate was recently highlighted by the Daily Telegraph, which named it one of the UK’s top medium-sized businesses.


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