22 deals update Latest deals data from across the region
IFG Holdings
Completion Date: 04/07/2012 Target: IFG Holdings Acquirer: Deek Acquisitions Investor: AnaCap Financial Partners II, LP Deal Value: £70 million
Details: Shoosmiths acted for a bank in connection with financing part of the acquisition price for the purchase by the acquirer of the target, a corporate and trust services group operating in a number of offshore jurisdictions. The Shoosmiths team was: Sean Wright, Rebecca Mauleverer, Suzanne Love and Anna Voss
Legal Advisers: Bank – Shoosmiths LLP; AnaCap – Simmons & Simmons LLP
Financial Due Diligence: KPMG Commercial Due Diligence: LEK
Project Cloud
Completion Date: 20/07/2012 Target: Skymarket Acquirer: Iomart Group plc Deal Value: Undisclosed
Details: Venture CF (Drew Mellor/Pete Looseley) advised Skymar- ket, a well-established UK-based ISP, on disposal to Iomart plc, a UK-based data centre and hosting provider. The disposal provides growth capital and allows the remaining Sky group to concentrate on its software-led telecoms business and new ventures
Corporate Financial Advisers: Venture CF Legal Advisers: Tim Moss – Shoosmiths Financial Due Diligence: PKF
Burger King franchise Completion Date: 13/07/2012
Target: One Burger King franchise in Blackpool Acquirer: Karali Deal Value: Confidential
Details: Karali has acquired one franchise from Burger King in Blackpool Funding: Equity
Legal Advisers: Karali – Pitmans LLP (Philip Weaver); Burger King – Clarke Willmott LLP
NetBenefit (UK)
Completion Date: 01/07/2012 Target: NetBenefit (UK) Acquirer: Peer 1 (UK) Deal Value: £25 million
Details: Shoosmiths advised Peer 1 (UK) on its acquisition of NetBenefit (UK) from Group NBT (backed by HgCapital). The Shoosmiths team was: Jonathan Cathie (deal leader), Jason Hill and Hilary Keeping. The corporate team was supported by a team of specialist lawyers throughout the firm. Stephen Porter provided partner support to the team
Funding: A club of banks led by National Bank of Canada Corporate Financial Advisers: Oakley Capital (sell-side)
Legal Advisers: Peer 1 – Shoosmiths; Group NBT – Linklaters LLP; National Bank of Canada – McCarthy Tetrault Financial Due Diligence: Buy-side – Deloitte; Sell-side – Deloitte
www.businessmag.co.uk Working Partners and Beast Quest
Completion Date: 11/07/2012 Target: Working Partners and Beast Quest Acquirer: Management backed by Edge Performance VCT Deal Value: Not disclosed
Details: RSM Tenon performed financial and tax due diligence for the management team of Jeremy Banks and Tim Ricketts, backed by Edge Performance VCT, to acquire Working Partners and Beast Quest, the creators of children’s series fiction
Funding: Edge Performance VCT and Coutts & Co
Corporate Financial Advisers: Ingenious Corporate Finance – sell-side advisers
Legal Advisers: Speechly’s and Marriott Harrison – buy-side legal advisers
Financial Due Diligence: RSM Tenon – Lee Castledine and Peter Vandervelde, directors of corporate finance; Kim Robinson, senior manager corporate finance
Infochem Computer Services
Completion Date: 18/06/2012 Target: Infochem Computer Services Acquirer: KBC Advanced Technologies plc Deal Value: £9.5 million
Details: Shoosmiths acted for KBC Advanced Technologies on the acquisition. The Shoosmiths team was: Emma Gibson (lead partner) and Rachel Reeves
Funding: HSBC Corporate Financial Advisers: BDO LLP Legal Advisers: KBC – Shoosmiths Financial Due Diligence: BDO
Royal Wells Hotel
Completion Date: 07/2012 Target: Royal Wells Hotel , Tunbridge Wells Acquirer: Peter Ratcliffe Deal Value: £700,000 Details: Acquisition of other 50% shareholding in Hotels 109 Funding: Bank of Scotland Corporate Financial Advisers: HW Corporate Finance Legal Advisers: Wedlake Bell LLP
Raymond Brown
Completion Date: 07/2012 Target: Raymond Brown Group Deal Value: Undisclosed
Details: Spectrum provided debt advisory services to Raymond Brown Group on the raising of a new package of debt facilities for the continued development of its business operations
Funding: Lloyds Banking Group THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – SEPTEMBER 2012 MBO of SDH UK
Completion Date: 02/07/2012 Target: SDH UK Acquirer: SDH Bidco backed by August Equity LLP Deal Value: Confidential
Details: Shoosmiths acted for August Equity on its investment in SDH UK, the parent company of SecureData Europe, a specialist IT security provider. August Equity-managed funds have committed significant additional funding to the SecureData group to supplement organic growth plans with acquisitions to create the leading independent UK-managed security services provider. The Shoosmiths team was: Sean Wright (lead partner), Gareth Davies (solicitor) and Janine Esbrand (trainee solicitor)
Funding: HSBC Corporate Financial Advisers: Meta Corporate Finance
Legal Advisers: August – Shoosmiths; Management – Rawlison Butler Financial Due Diligence: Grant Thornton Commercial Due Diligence: CIL
Safestone Technologies
Completion Date: 07/2012 Target: Safestone Technologies Acquirer: Help/Systems International Deal Value: Confidential
Details: RSM Tenon provided financial due diligence on the acquisition of Safestone Technologies by Help/Systems International
Legal Advisers: Cobbetts LLP for Help/Systems
Financial Due Diligence: RSM Tenon – David Copley, corporate finance director; Rob Holmes, corporate finance associate director
Completion Date: 20/07/2012 Target: Tessella
Acquirer: Tessella management team backed by Mobeus Equity Partners Deal Value: £18 million
Details: MBO of Tessella, an international provider of science- powered technology and consulting services (management backed by Mobeus Equity Partners). Founder Kevin Gell retained a significant minority stake and seat on the board
Funding: MBO backed by Mobeus Equity Partners
Corporate Financial Advisers: Grant Thornton, HMT Corporate Finance
Legal Advisers: David Tighe & Zoe Pepper, Manches LLP; Nabarro LLP
Financial Due Diligence: Charles Whelan for HW Corporate Finance LLP
Tessella MBO Completion Date: 22/06/2012
Target: The business and undertaking of Hampshire Funerals
Acquirer: CPJ Field & Co Deal Value: Undisclosed
Details: Lamport Bassitt advised CPJ Field & Co on the acquisi- tion of the six-site funeral business operated by Hampshire Funerals
Legal Advisers: John Newton and Oliver Kelly of Lamport Bassitt for CPJ Field & Co; Beeton Edwards LLP and Trethowans LLP for the seller
Financial Advisers: Baker Tilly for CPJ Field & Co; HJS Accountants LLP for the seller
Building and Survey Advice: Dan Butt of Now Chartered Surveyors for CPJ Field & Co
Funders: Barclays Bank plc Hampshire Funerals
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