22 deals update
Latest deals data from across the region Plant Fix
Completion Date: 06/09/2012 Target: Plant Fix Acquirer: LNB Group Deal Value: Confidential
Details: Lamport Bassitt advised the sellers on the sale of the entire issued share capital of the Target. The Target, based in Southampton, is a market leader in the plant maintenance, civil engineering and fabrication sectors
Legal Advisers: Oliver Kelly of Lamport Bassitt for the sellers. Hill & Abbott for the acquirer
Corporate Financial Advisers: Henry Campbell-Jones of Hornblower Business Brokers
Completion Date: 23/08/2012 Target: The business and certain assets of Keytools Acquirer: Hypertec Deal Value: Confidential
Details: Lamport Bassitt advised Keytools, a leading supplier of assistive technology and ergonomic computer equipment, on the sale of its business and assets to the acquirer
Legal Advisers: Oliver Kelly of Lamport Bassitt for Keytools. Wragge & Co LLP for the acquirer
TC Communications Holdings Completion Date: 12/07/2012 Project Scotland
Completion Date: 30/07/12 Target: Project Development International Acquirer: OIG Holding (UK) and Troll Management BV Deal Value: Not disclosable
Details: Osborne Clarke (Sara Valentine) and RSM Tenon (Steve Brown) acted for the sellers/management team of Project Devel- opment International on the sale/management buyout to OIG
Funding: Cash funded Corporate Financial Advisers: RSM Tenon (Steve Brown)
Legal Advisers: Osborne Clarke (Sara Valentine/Vicky Hill) and Ploum Lodder Princen (UK and Dutch legal advisers to the sellers/ management team); White & Case (OIG)
Financial Due Diligence: OIG Commercial Due Diligence: OIG
Stadium Group plc acquires IGT Industries
Completion Date: 11/09/12 Target: IGT Industries Acquirer: Stadium Group plc Deal Value: £4.2 million
Details: Stadium Group plc, an AIM listed engineering group specialising in plastics and electronics, has acquired IGT Industries, which designs and manufactures front panel solutions, membrane keyboards, electronic sub-assemblies and graphic overlays
Funding: HSBC
Corporate Financial Advisers: Rob Holmes, corporate finance director, RSM Tenon. David Copley, corporate finance partner, RSM Tenon
Legal Advisers: Blake Lapthorn – James Hawkeswood and Mat Wilson
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Target: TC Communications Holdings Deal Value: Confidential
Details: Lamport Bassitt provided legal advice to Target on the equity investment by Maven Capital Partners and debt provision by HSBC to Target for the continued development of its business operations. The Lamports‘ team included Sean Kelly, Oliver Kelly and Malin Svanberg Larsson
Legal Advisers: Lamport Bassitt – Target. Norton Rose – HSBC Funding: Maven Investment Partners; HSBC
Redevelopment of Hampshire‘s Ageas Bowl
Completion Date: 08/12 Target: Rosebowl plc Group Deal Value: £40 million
Details: A multi-disciplinary team from Paris Smith LLP advised Rosebowl and its subsidiary companies on a £40m redevelop- ment of the Ageas Bowl to include a four star Hilton Hotel and additional conferencing and hospitality facilities, a state-of-the- art media centre, bars, restaurants and a spa and leisure club
Funding: Eastleigh Borough Council
Legal Advisers: Paris Smith for Rosebowl Group – James McNeil (banking), James Snaith, (construction), Mark Howarth (property) Janet May (planning)
Sale of Espicom
Completion Date: 15/08/12 Target: Espicom Acquirer: Business Monitor International Deal Value: Undisclosed
Details: Sale and purchase of Espicom, a company specialising in business intelligence relating to the global pharmaceutical and medical device sectors
Funding: Bank of Scotland
Legal Advisers: Thomas Eggar LLP for the vendors. Norton Rose LLP for the purchaser
Continued on page 24 ... THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – OCTOBER 2012 Next Deadline
The next Deals Update will appear in our November 2012 issue
Deadline for submissions is Monday October 15
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
Keytools
Completion Date: 22/08/12 Target: Eddingtons
Acquirer: BIMBO (Part management buyin, part buyout) Deal Value: Undisclosed
Details: Leumi supported the acquisition of Hungerford-based Eddingtons with Invoice Discounting, stock finance and cashflow facilities. Eddingtons import and sell cookware and kitchenware to large multiples and smaller retailers, and the business is seasonal. The cashflow loan was agreed at very short notice to maximise headroom, post completion
Funding: £ undisclosed: CID facility + stock finance
Legal Advisers: Shoosmiths acted for Leumi ABL; Darbys acted for the management team and Blandy & Blandy acted for the vendors. Go Industry completed collateral reviews encompassing debtors and stock
Thru Deck Services
Completion Date: 08/12 Target: Thru Deck Services Acquirer: Structural Metal Decks (SMD) Deal Value: Undisclosed
Details: CW Fellowes Corporate Finance team advised the shareholders of SMD on its recent acquisition of Thru Deck Services
Corporate Financial Advisers: Philippa Robinson, CW Fellowes
Legal Advisers: Michael Moore of Paris Smith Financial Due Diligence: CW Fellowes
Leumi ABL/Eddingtons
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