deals update 33 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 – THAMES VALLEY – 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


Docherty Chimney Group acquires MMF


Docherty Chimney Group, the UK’s largest independent supplier of chimney products, has acquired MMF, one of its major competitors and another specialist chimney and flue supplier. The enlarged group will have an unrivalled range of products and provide expertise, support and increased levels of product availability across the UK.


Docherty Chimney Group and MMF will continue to trade as separate businesses, together the two companies will have:


• Increased regional presence – the group has 11 branches – vastly improving the ability to rapidly supply products and provide customer support across the UK.


• Increased financial stability, strength and buying power with group turnover increasing to £20 million.


• More than 140 employees, UK wide.


• Increased investment in employees’ skills and training – MMF will now have access to Docherty’s Sure Fire training centre in Ripley, Derbyshire.


• A solid fuel liner production machine will be installed at MMF’s Smethwick factory enabling improved distribution of solid fuel liner.


• The two companies together have been in business for almost 100 years and the group has a management team comprised of some of the UK’s leading industry experts.


Allister Moorcroft, managing director of Docherty Chimney Group commenting on the acquisition, said: “With the acquisition of MMF, Docherty Chimney Group is another step closer to achieving its goal of becoming the UK’s preferred supplier of chimney and related products.


“Rising distribution costs mean our customers increasingly require us to provide a wide range of products available locally at short notice.


“Adding MMF’s network of branches and the expertise of their staff we have dramatically improved our ability to serve our customers across the country. Docherty Chimney Group is now well positioned to meet the demands of a growing but still very competitive market.“


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60