deals update 23 • Independent M&A boutique in Reading, covering London & Southern England.
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Spectrum Corporate Finance LLP One Forbury Square The Forbury, Reading RG1 3BB
Investment in FoundOcean
Completion Date: 12/06/2012 Target: FoundOcean Acquirer: Ambienta SGR Deal Value: Undisclosed
Details: Ambienta SGR, the largest investor focused on growth environmental investments in Europe, acquired 35% of the equity of FoundOcean, a leading global provider of foundation grouting services to the offshore global energy construction sector. B P Collins LLP acted for FoundOcean and its management team in connection with the investment
Corporate Financial Advisers: David Fawcus (for FoundOcean)
Legal Advisers: B P Collins (David Smellie and Harriet Jones for FoundOcean and its management team); McDermott Will & Emery, Studio Grimaldi, Burges Salmon (for Ambienta)
Financial Due Diligence: PwC (for Ambienta) Industry Media
Completion Date: 07/2012 Target: Industry Media Acquirer: James Grant Group Deal Value: Undisclosed
Details: Spectrum Corporate Finance LLP advised the management team of Industry Media on its disposal to James Grant Group
Funding: Gresham Private Equity Corporate Financial Advisers: Spectrum Corporate Finance Legal Advisers: Blake Lapthorn
MBO of CTC Aviation
Completion Date: 06/2012 Target: CTC Aviation Group Acquirer: Inflexion Private Equity Deal Value: Undisclosed
Details: HSBC, sole arranger, recently provided senior debt in support of Inflexions and the MBO of CTC Aviation. CTC is a leading global provider of tailor-made aviation training services
Funding: HSBC Legal Advisers: Kimbells Freeth and Pinsent Masons Financial Due Diligence: PwC Commercial Due Diligence: ICF SH & E
Palmer Legal Technologies
Completion Date: 06/2012 Target: Palmer Legal Technologies Acquirer: Proven (UK) Deal Value: Undisclosed
Details: Proven, the leading global investigations firm, acquired Palmer Legal Technologies, a specialist provider of electronic discovery, regulatory compliance and digital forensic services
Legal Advisers: Justin Starling and Elizabeth Yell, Manches LLP THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – SEPTEMBER 2012
Completion Date: 04/07/2012 Target: Hazlette Ventures Acquirer: Christopher Howell Deal Value: Confidential
Details: The acquisition of the whole allotted and issued share capital of the target, along with the beneficial interest of the sale shares and the beneficial interest in the property known as Oceano Club
Funding: Equity
Legal Advisers: Acquirer solicitors- Pitmans LLP (Philip Weaver); Target solicitors- Braganca Bruno & Assaciodos (Catia Cardoso)
Project Gold Completion Date: 26/06/2012
Target: Watermeadow Medical and Watermeadow Medical Consulting Inc (Watermeadow) Acquirer: United Drug plc Deal Value: Up to £13 million
Details: United Drug, a leading international provider of services to healthcare manufacturers and pharmaceutical retailers has acquired Watermeadow Medical and Watermeadow with financial due diligence provided by BDO LLP. Watermeadow is a leading healthcare communications and consultancy agency headquartered in the UK with offices also in the US. Its services include medical writing and preparation of promotional and educational materials typically for products pre-launch
Funding: United Drug Legal Advisers: Pinsent Masons (Buy-side) Financial Due Diligence: BDO Commercial Due Diligence: N/A
Project Development International
Completion Date: 30/07/2012 Target: Project Development International Acquirer: OIG Holding (UK) Deal Value: Confidential
Details: Sale of Project Development International to OIG Holdings (UK)
Corporate Financial Advisers: Steve Brown, corporate finance director, RSM Tenon
Legal Advisers: White & Case (lawyers to Bidder); Osborne Clarke (lawyers to Target)
We7 Sale
Completion Date: 14/06/2012 Target: We7 Acquirer: Tesco Deal Value: £10.8 million Details: Acting for We7 in its sale to Tesco for £10.8m Legal Advisers: Patrick Baddeley, Manches LLP
• International reach as the UK member of the Alliance of International Corporate Advisers (“AICA”)
www.aoica.org.
Hazlette Ventures Completion Date: 01/06/2012
Target: The Ultimate Event Company
Acquirer: Events by Appointment (part of The Appointment Group) Deal Value: Undisclosed
Details: Stewart Lambert and Lamport Bassitt advised The Appointment Group on the acquisition of The Ultimate Event Company and subsequent equity investment by management
Corporate Financial Advisers: Stewart Lambert of James Cowper Corporate Finance LLP for the acquirer; Oasis Europe for the sellers
Legal Advisers: Oliver Kelly and Malin Svanberg Larsson of Lamport Bassitt for the acquirer; Speechly Bircham LLP for the sellers
Quadra Foods Completion Date: 07/08/2012
Target: Assets of Quadra Foods, Stickpack Europe, Dairystix and Farmright (all in administration) Acquirer: Plympack and Guiston LLP Deal Value: Undisclosed
Details: Purchase of assets relating to the production of Dairystix single portion milk packs by Plympack, a subsidiary of Brightbor- ough Capital, turnaround specialists based in Oxfordshire, and the purchase of milk processing assets by Guiston
Corporate Financial Advisers: Grant Thornton (acting as administrators for the selling companies)
Legal Advisers: Justin Starling, Zoe Pepper and Kerry Sharp of Manches LLP
Stanhope Group Holdings
Completion Date: 07/2012 Target: Minority stake in Stanhope Group Holdings
Acquirer: Mitsui Fudesan (UK) and Alberta Investment Management Corporation Deal Value: Undisclosed
Details: Manches LLP acted for private investors on the sale of their project involving the redevelopment of BBC Television Centre Legal Advisers: James Went, Manches for minority shareholders
Next Deadline
The next Deals Update will appear in our October 2012 issue
Deadline for submissions is Monday September 17
If you would like to submit deal information or to advertise on this page contact:
Tanya Thomas • 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 www.aoica.org
Project Ultimate
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