deals update 25 Vittles Foods
Completion Date: 08/11/12 Target: Vittles Foods
Acquirer: Givesco Bakery A/S and Richard Handscombe Deal Value: Confidential
Details: The acquisition of 75% of the share capital of Vittles Foods by Givesco Bakery A/S and a smaller percentage by Richard Handscombe. Vittles Foods retains existing management who will be working with the acquirer to expand and improve the business
Funding: Existing resources Corporate Finance Advisers: N/A
Legal Advisers: Pitmans LLP (Andrew Peddie and Samantha Ladbrook) advising the acquirer and Spearing Waite LLP (Kate Blank) advising the sellers
Financial Due Diligence: N/A Commercial Due Diligence: Richard Handscombe
iJento Investment
Completion Date: 24/10/12 Target: iJento Acquirer: N/A Deal Value: $8 million
Details: Manches LLP acted for iJento on its $8m equity investment led by MMC Ventures and existing investors Nauta Capital and Oxford Capital Partners. iJento is a technology leader in digital and multichannel customer intelligence and will use the investment to drive its global growth plans
Funding: N/A Corporate Finance Advisers: N/A
Legal Advisers: Manches (Justin Starling, James Went) for iJento. Taylor Wessing for MMC/Nauta Financial Due Diligence: N/A Commercial Due Diligence: N/A
Project Direct
Completion Date: 31/10/12 Target: Comms Direct (Sales) Acquirer: BDR Networks Deal Value: Undisclosed
Details: Venture CF (Drew Mellor) advised BDR Networks on the acquisition of Comms Direct (Sales), an established telecoms and networking specialist company. This deal aligns the BDR group’s growth through targeted acquisition strategy alongside VentureCF’s excellent reputation in the telecoms market
Corporate Finance Advisers: VentureCF Tax Advice: HWB (Tracy Jenkins)
Next Deadline
The next Deals Update will appear in our February 2013 issue
Deadline for submissions is Monday January 14
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
Coffin Mew helps Tructyre Fleet Management grow its business
The corporate team at Coffin Mew Solicitors has helped Tructyre Fleet Management, one of the south’s largest companies of its type, nearly double its size following the strategic acquisition of one of its competitors, the PK Commercial group of companies.
Tructyre Fleet Management, based just off the M3 near Winnall in Winchester, manages and maintains tyres on large commercial fleets of trucks and vehicles for customers such as large supermarkets, hauliers and other transport companies with household names; principally covering the south coast up to the M4 and London and Weymouth to Portsmouth.
It has acquired the PK Commercial group of Companies which carry on similar activities in Kent, Sussex and Surrey, providing Tructyre with the capacity to service all their customers’ requirements along the length of the south coast. This includes the main arterial routes from the leading south coast ports into London and the M25 as well as Heathrow and Gatwick airports. The combined turnover of the group will be in excess of £25 million and the acquisition will also open up the opportunity for Tructyre to get involved in both the retail and commercial markets.
Amanda Brockwell, who led the Coffin Mew team, worked with Glenn Sherwood, the managing director of Tructyre, to conclude the deal. Brockwell said: “We were delighted to be part of the deal which has given Tructyre a considerable share of this market – placing the company in a unique position that enhances its products and services to its all-important customer base while allowing it to grow its offering now and into the future.“
Sherwood said: “We were delighted that Amanda and the team were able to work with us in securing this very important deal. Amanda was instrumental in the buyout of Tructyre in 2006 when it went alone after Tony Todd, MD of Micheldever Tyres, sold to Graphite Group in February 2006, so it seemed fitting to continue our partnership in another business milestone for Tructyre.“
Details: Amanda Brockwell
amandabrockwell@coffinmew.co.uk
THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – DECEMBER 12/JANUARY 13
Shoosmiths advises on IT innovator deal
Shoosmiths’ Southampton-based corporate team has advised privately- held Inventif RMA Holdings (RMA Consulting) on its sale to NTT DATA EMEA.
NTT DATA EMEA is a wholly-owned subsidiary of the Japanese-based global IT innovator, NTT DATA Corporation. RMA Consulting was founded in 2005 and focuses on the design and delivery of business solutions to experts in various sectors, including public, healthcare, and finance. Clients include Adobe, The Met Office and NATO.
The acquisition of RMA Consulting will bring specialist user experience and design consultancy skills to NTT DATA and complement its existing range of business and IT capabilities.
RMA’s joint managing directors, Peter Lelliott and Chris Boutler, will remain in the company, taking on expanded roles across the enterprise and financial services divisions within the NTT DATA UK and EMEA business.
Porter commented: “The decision to go to market was a well-thought-out strategic move by RMA Consulting and a welcomed opportunity for us to be able to use our corporate experience and capability to gain the best result for our client.“
“Shoosmiths was more than just an adviser, it was a true partner in this transaction and contributed greatly to a positive outcome for all. Its considerable experience of dealing with overseas buyers was invaluable,“ added Lelliott.
Shoosmiths’ team was led by partner Stephen Porter and solicitor Lisa Sigalet.
DEALS AWARDS 2013
SOLENT
Now open for entries See overleaf for details
www.businessmag.co.uk
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