38 deals update Latest deals data from across the region MBO of Procam Television
Completion Date: 07/05/2013 Target: Procam Television Acquirer: Newco/Management Deal Value: Undisclosed
Details: HMT LLP, led by partner Andrew Thomson and director Paul Read, advised Newco and existing management on the buyout of Procam Television, the UK’s largest broadcast hire company. Foresight Group backed the transaction with a £1.8 million investment
Funding: Foresight Group LLP Legal Advisers: Marriott Harrison LLP Financial Due Diligence: HMT
Jigsaw24
Completion Date: 08/04/2013 Target: Jigsaw24 Acquirer: Newco Deal Value: Not disclosed
Details: The IT services team at Transcend Corporate, led by Ian Aldridge, has advised incoming CEO, Martin Balaam, and a Newco on a growth capital investment in Jigsaw24 by NorthEdge Capital LLP. Jigsaw24 has a turnover of £60 million and offers IT solutions with particular expertise in Apple, Adobe, and Creative Solutions
Funding: NorthEdge Capital and Lloyds Bank Corporate Finance Advisers: Transcend Corporate Legal Advisers: Gateley Manchester Financial Due Diligence: PwC Manchester Commercial Due Diligence: Deloitte London
Brand Addition acquisition of Spark Promotions
Completion Date: 03/05/2013 Target: Spark Promotions (Ireland) Acquirer: Brand Additional Deal Value: Undisclosed
Details: B P Collins LLP acted for the shareholders of Spark Promotions on the sale of all shares to Brand Additions (providers of creative, cost effective branded products to some of the world’s most well known brands)
Legal Advisers: David Smellie and Harriet Jones (B P Collins) for the seller
Food Industry Technical RWS acquire UK specialist translation business
Completion Date: 30/04/2013 Target: PharmaQuest Acquirer: RWS Translations Deal Value: £2.3 million
Details: B P Collins LLP acted for RWS Holding plc (Europe’s leading provider of intellectual property support services and commercial translations) in the acquisition of the entire issued share capital of PharmaQuest (specialists in high-quality translation and linguistic validation of patient reported outcome measures resulting from clinical trials)
Legal Advisers: David Smellie and Thomas Baines (B P Collins) for the acquirer
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Completion Date: 05/04/2013 Target: Food Industry Technical Acquirer: Efficient Energy Management Group Deal Value: Not disclosed
Details: A team at Transcend Corporate, led by Ian Aldridge, has advised the shareholders of Food Industry Technical (FIT) on its sale to Efficient Energy Management. FIT’s Cheetah energy management and control systems have been installed in over 2,000 locations in supermarkets, hotels, and leisure operators in the UK and Europe
Funding: FF&P Private Equity Corporate Finance Advisers: Transcend Corporate Legal Advisers: Moorcrofts LLP
Completion Date: 04/2013
Details: HW Corporate Finance LLP has announced the successful growth capital fundraising for Hy-Pro International, a business specialising in own-branded and licensed sports and outdoor goods for kids. The team led by partner David Lock worked closely with management to develop the business plan before sourcing a funding partner and project managing the transaction
Funding: Nigel Wray, a well known entrepreneur and investor who has taken a 44% equity stake in the business and will sit on the board as a non-executive director
Corporate Finance Advisers: HW Corporate Finance Legal Advisers: Taylor Walton
Project X Completion Date: 01/05/2013 Growth Capital for Hy-Pro International
Target: The business, undertaking and assets of Hair Wholesale Supplies trading as Ambassador Hair and Beauty Supplies
Acquirer: K B Salon Supplies Deal Value: Confidential
Details: Lamport Bassitt advised Salon Supplies, a leading local supplier of hair, beauty and salon products (with a turnover in excess of £10 million), on the acquisition of the target. The transaction represented another successful acquisition by Salon Supplies in 2013 as part of their acquisition strategy Project X
Legal Advisers: Oliver Kelly (corporate), John Newton (real estate), Nick Todd (real estate), Abi Dowling (employment) and Malin Svanberg Larsson (corporate) of Lamport Bassitt acted for Salon Supplies
Econic Technologies
Details: Manches LLP advised Econic Technologies on a venture capital funding transaction by Imperial Innovations Businesses LLP. Econic develops new catalysts and processes for manufacturing polymers from CO2
Legal Advisers: Rob Hayes & Elizabeth Yell Acquisition of Landgard UK
Completion Date: 25/04/2013 Target: Landgard UK, part of Landgard GmbH Group, Germany Acquirer: Verde Horticulture (newco) Deal Value: Confidential
Details: The UK subsidiary of German horticultural cooperative Landgard GmbH was acquired by management via a newco, Verde Horticulture, on April 4
Capita acquires G2G3
Completion Date: 04/2013 Target: G2G3 Acquirer: Capita plc Deal Value: £4.5 million
Details: G2G3 is a Scottish-based IT software development company which develops programmes so that training can be delivered through game playing. This is called “gamification“. Capita believes it can use this technology to good effect in a number of its large contracts
Corporate Finance Advisers: Dresner (to Vendors) Legal Advisers: Eversheds, Jonathan Cox-Brown
Financial Due Diligence: RSM Tenon: Peter Vandervelde, corporate finance partner. Andrew Porteous, corporate finance manager
Commercial Due Diligence: RPL, Roger Penney Tax Advisers: RSM Tenon: Robin Thorn, tax director
Corporate Finance Advisers: RSM Tenon: David Copley, corporate finance partner. Nick Williams, corporate finance partner
Legal Advisers: Coffin Mew
Tax Advisers: RSM Tenon: Michelle Harris, tax partner. Nicola Holmes, VAT manager
MBI of Andante Travel
Completion Date: 01/05/2013 Target: Andante Travels Acquirer: MBI team Deal Value: Undisclosed
Details: HMT LLP, led by partner Andrew Thomson and director Paul Read, advised Panoramic Growth Equity and incoming CEO, Ian Finlay, on the management buyin of market leading archaeological travel business Andante Travel. Panoramic backed the transaction with a £1.8 million investment
Funding: Panoramic Growth Equity (Fund Management) LLP Corporate Finance Advisers: James Cowper LLP Legal Advisers: Lamport Bassitt Financial Due Diligence: HMT
Next Deadline
The next Deals Update will appear in our July/August 2013 issue
Deadline for submissions is Monday June 17
If you would like to submit deal information or to advertise on this page contact:
David Murray • 0118-9766410 •
david@elcot.co.uk Elcot Publications is not responsible for the accuracy of information in the Deals Update section which is supplied by individual firms
THE BUSINESS MAGAZINE – THAMES VALLEY – JUNE 2013
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