24 deals update Latest deals data from across the region Sale of Star Technology Services
Completion Date: 11/2012 Target: STH Acquirer: Claranet Deal Value: £55 million
Details: Claranet, one of Europe’s leading managed-service providers, has acquired Star, a UK provider of managed technology services for £55m. The acquisition creates the largest mid-market provider of integrated hosting and network services in the UK and continental Europe. The expanded business will have revenues of more than £120m
Legal Advisers: Clark Holt, commercial solicitors, Swindon, acted for the shareholders of Star
Completion Date: 01/2013 Target: Wiltshire Medical Services Acquirer: Moonray Healthcare (Bermuda) Deal Value: Confidential
Details: Moonray Healthcare has made a substantial investment in Wiltshire Medical Services (WMS), a primary care services provider delivering care to more than 450,000 patients. As part of the deal WMS will acquire Telehealth Solutions (THSL), a leading provider of telehealth technology. The combination will create an integrated, primary care-focused organisation with market-leading expertise across a broad range of remote patient management services
Funding: Moonray Healthcare Corporate Finance Advisers: Springboard CF (vendor M&A)
Legal Advisers: DAC Beachcroft (Moonray Legal DD), Gateleys (vendor legal)
Financial Due Diligence: RSM Tenon: Nick Williams, partner. Peter Wear, associate director Tax Due Diligence: RSM Tenon: Michelle Harris, partner
Acquisition of Aggregated Telecom
Completion Date: 01/2013 Target: Aggregated Telecoms t/a 8el Acquirer: Selection Services Deal Value: Confidential
Details: Palatine Private Equity and Beechbrook Capital have backed the management of Selection Services, a leading IT managed service provider, in the acquisition of Aggregated Telecom, which trades as 8el. The acquisition will significantly increase Selection’s service capabilities, creating a business with nearly 400 employees and revenues of £37 million. It represents a major step towards the business offering a full suite of IT services to its target SME and mid-market audience
Funding: Palatine Private Equity, Beechbrook Capital. Barclays Bank also provided additional working capital facilities to the enlarged group
Corporate Finance Advisers: Grant Thornton (Palatine Private Equity)
Legal Advisers: Gateleys (Legal Due Diligence)
Financial Due Diligence: RSM Tenon: Peter Vandervelde, partner. Peter Wear, associate director Commercial Due Diligence: CIL Tax Due Diligence: RSM Tenon: Michelle Harris, partner
Project Forest
Completion Date: 31/12/2012 Target: Classic Folios Acquirer: Tower Bridge Equity Deal Value: Undisclosed
Sale of W M Shipping
Completion Date: 31/01/2013 Target: W M Shipping
Acquirer: Santova, a company incorporated in the Republic of South Africa Deal Value: Undisclosed
Details: Sale and purchase of W M Shipping, a company specialis- ing in freight forwarding and acting as a line agent or non-vessel operating container carrier from its UK base
Corporate Finance Advisers: BCMS Corporate Legal Advisers: Thomas Eggar LLP for the vendors
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Details: Classic Folios, the market-leading supplier of custom leather folders and branded leather binders, was advised by Drew Mellor of Venture CF on its disposal to Tower Bridge Equity, a Private Equity group. Tax advice was provided by Tracy Jenkins of HWB Accountants
Corporate Finance Advisers: Venture CF
Legal Advisers: Jonathon Roy, Michael Moore and Richard Atcherley – all of Paris Smith (for the vendor)
Financial Due Diligence: Chris Poston – Royce Peeling Green (RPG)
Commercial Due Diligence: Stephen Jarman – Taylors Solicitors
Continued on page 26 ... THE BUSINESS MAGAZINE – THAMES VALLEY – MARCH 2013 Oxford University Press
Completion Date: 21/01/2013 Target: Nelson Thornes Acquirer: Oxford University Press Deal Value: Confidential
Details: Manches LLP advised Oxford University Press (OUP) on its acquisition of Nelson Thornes, extending OUP’s range of educational publishing. OUP acquired the publisher from Infinitas Learning, one of Europe’s leading providers of products and services for teaching and learning, for an undisclosed sum
Legal Advisers: David Tighe & Zoe Pepper (Manches) Salon Supplies Completion Date: 01/02/2013
Target: The business and assets of George Choppen & Sons (Hertford) trading as Deltagroom
Acquirer: KB Salon Supplies Deal Value: Confidential
Details: Lamport Bassitt advised Salon Supplies, a leading local supplier of hair, beauty and salon products turning over £10 million per annum, on the acquisition of target
Legal Advisers: Oliver Kelly and John Newton of Lamport Bassitt acted for Salon Supplies. Roach Pittis acted on the sale side
Property Adviser: Dan Butt of Now Chartered Surveyors Completion Date: 31/01/2013
Target: Coolmation, Coolmation Service and Climate4Hire
Acquirer: Swegon AB and Investment AB Latour
Deal Value: Undisclosed
Details: Meridian Corporate Finance LLP advised the shareholders of the Coolmation group, an HVAC service, design and installation firm based in Ringwood, on the cross-border sale to private equity-backed Swegon AB, a Swedish ventilation and indoor climate systems manufacturer
Funding: Investment AB Latour Corporate Finance Advisers: Meridian (vendor)
Legal Advisers: Blake Lapthorn LLP (vendor), Trethowans LLP (management), DMH Stallard (acquirer UK counsel), Advokatfirman Vinge AB (acquirer Swedish counsel) and MCM Avvocati (exiting supplier counsel)
Financial Due Diligence: PwC AB and Investment AB Latour
Tax Advisers: Bluespire South LLP (vendor and management), Barclays Wealth Management (vendor) and AJ Bell (SIPP Advisory)
Coolmation
Moonray Healthcare investment
Completion Date: 20/12/2012 Target: Celaton
Acquirer: Business Growth Fund plc Deal Value: £2.5 million
Details: HMT LLP, led by partner Andrew Thomson, advised Business Growth Fund on its investment in Celaton Legal Advisers: Wragge & Co LLP Financial Due Diligence: HMT
Investment in Celaton
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