32 deals update Latest deals data from across the region International Applications
Completion Date: 03/2012
Details: The Barclays Corporate team based in Oxford, led by relationship director Vikki Hemming, have provided funding to International Applications to assist with the purchase of a commercial warehouse and office space to accommodate its continued growth
Funding: Loan £1 million Legal Advisers: Bower & Bailey, Banbury
Completion Date: 29/02/2012 Target: Algreta Solutions Acquirer: LF Europe Deal Value: Undisclosed
Details: Sale of the entire share capital of Algreta Solutions to LF Europe. Algreta Solutions is active in the sourcing, sale and recycling of Electronic Article Surveillance (EAS) products, accessories and services in connection with such EAS products to the retail industry
Funding: From existing working capital Audley Travel’s investment from Equistone
Completion Date: 19/03/2012 Target: Audley Travel
Acquirer: NewCo backed by Equistone Private Equity and founders Deal Value: Undisclosed
Details: Equistone has invested in Audley Travel, the UK’s leading provider of luxury tailor-made holidays with£63 million turnover in 2010 and 170 staff at their Oxfordshire base. The investment will enable Audley to continue its growth under the founders and continuing management team, joined by Richard Prosser as chairman
Funding: Equity from Equistone and founder roll-over, senior debt from RBS and Barclays
Corporate Financial Advisers: BDO LLP for founders (Paul Rus- sell, Peter Hemington and Richard Kelman); Deloitte for Equistone
Legal Advisers: Blake Lapthorn for founders (Edward Lee), Pinsent Masons for investor
Financial Due Dilligence: BDO for Vendor DD (John Parkinson, Oliver Burton, Dan James) Deloitte for Investor Top-Up DD
Commercial Due Dilligence: PwC
Corporate Financial Advisers: Rouse Chartered Accountants acting for Paul Clarke, Richard Peter Dowse and Michael Stewart (Algreta Solutions)
Legal Advisers: Pitmans LLP acting for Paul Clarke, Richard Peter Dowse and Michael Stewart (Algreta Solutions)
Financial Due Dilligence: PwC Commercial Due Dilligence: PwC
Management buyout of Network Research and Mktg Project Buzzbling
Completion Date: 03/2012 Target: Network Research and Marketing
Acquirer: Network Research and Marketing management team Deal Value: Undisclosed
Details: Meridian Corporate Finance LLP advised London-based Network Research and Marketing’s management team on their management buyout of the business. Network Research and Marketing helps companies to successfully measure satisfaction, loyalty and advocacy through employing business market research techniques
Funding: Centric Commercial Finance Corporate Financial Advisers: Meridian Corporate Finance Legal Advisers: Maxwell Winward LLP
Microsulis equity investment and option
Completion Date: 04/2012 Target: Microsulis Medical Acquirer: AngioDynamics Inc Deal Value: $5 million initial investment
Sale of ttMobiles
Completion Date: 03/2012 Target: ttMobiles Acquirer: Tangoe Inc Deal Value: Undisclosed
Details: Oxford law firm, Henmans LLP has advised on the multimillion-pound sale of Oxford-based company ttMobiles, to Tangoe Incorporated. ttMobiles provides mobile communications management solutions to European-based clients and its acquisition is central to US company Tangoe’s plans to expand its European operations. US firm, WilmerHale acted for Tangoe
Legal Advisers: Henmans LLP Purchase of Secure Care (Oxford)
Completion Date: 5/04/2012 Target: Business and assets of Secure Care (Oxford) Acquirer: Bailey Employment Services Deal Value: Undisclosed
Details: Sale and purchase of the business and assets of Secure Care (Oxford), a business specialising in the supply of high quality care and support services to individuals within their own home
Legal Advisers: Thomas Eggar LLP for the purchaser, Greene & Greene Solicitors for the vendor
Volution Group MBO by TowerBrook
Completion Date: 3/02/2012 Target: Volution Group
Acquirer: NewCo backed by TowerBrook Capital Partners LP and management Deal Value: Undisclosed
Acquisition of Birdland Park
Completion Date: 04/2012 Target: Birdland Park Acquirer: Livingstone Leisure Deal Value: Undisclosed
Details: Paris Smith acted for Livingstone Leisure who acquired the entire issued share capital of Birdland Park, based in the Cotswolds
Legal Advisers: Andrew Heathcock, Paris Smith LLP acted for Livingstone Leisure
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Details: Tertiary buyout of Volution Holdings by the management team backed by TowerBrook Capital. The group’s product range includes residential, commercial and industrial electrical fans and other ventilation products. Volution’s core brands – Vent-Axia, Manrose and Torin-Sifan – are the UK ventilation market leaders
Funding: Equity by TowerBrook, senior debt by Royal Bank of Scotland, GE and Bank of Ireland
Corporate Financial Advisers: BDO LLP (Jamie Austin & Richard Kelman) for management team, DC Advisory for sellers
Legal Advisers: Weil, Gotshal & Manges for TowerBrook, Stevens & Bolton LLP (Keith Syson, James Waddell and Laura Shackleton) for management team, CMS Cameron McKenna for sellers
Financial Due Dilligence: PwC for vendor DD, E&Y for Top-Up DD
Commercial Due Dilligence: BRG Building Solutions
Details: AngioDynamics made a $5m equity investment in Microsulis through the purchase of preferred stock representing a 14.3% ownership position. AngioDynamics has been granted ex- clusive distribution rights to market and sell Microsulis’ microwave ablation system in all markets outside the US and granted an exclusive option to purchase the global assets of Microsulis
Legal Advisers: Michael Moore, Paris Smith LLP acted for Microsulis
Acquisition of 31 franchises from Burger King
Completion Date: 29/03/2012 Target: Acquisition of 31 franchises from Burger King
Acquirer: Karali Deal Value: Undisclosed
Details: Karali has acquired 31 franchises from Burger King. In addition, it has assumed the obligation to develop a substantial number of new Burger King restaurants in the next 10 years
Funding: Working capital and bank finance Legal Advisers: Pitmans LLP acting for Karali Financial Due Dilligence: BDO Commercial Due Dilligence: Karali
Purchase of Inoplas Technology
Completion Date: 16/03/2012 Target: Inoplas Technology Acquirer: Dorset Plastics Deal Value: Undisclosed
Details: Sale and purchase of Inoplas Technology, a company specialising in the business of plastic injection moulding, over- moulding, assembly and finishing
Funding: Lloyds TSB Commercial Finance
Legal Advisers: Thomas Eggar LLP for the purchaser, Coffin Mew LLP for the vendors
THE BUSINESS MAGAZINE – THAMES VALLEY – MAY 2012
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