36
OF THE YEAR (OVER £25m) AWARD
DEAL
SPONSORED BY UBS Wealth Management WINNER PIMS
Above: Charlie White of PIMS
Right: Clive Coleman with Jamie Broderick of sponsor UBS Wealth Management, Charlie White and the winning team from PIMS
As attention turned to the final award of the night, Clive Coleman read out the last set of nominations to be voted on.
Lining up for the Deal of the Year (over £25 million), sponsored by UBS, were nominations for Ageas Bowl, CTC Aviation and PIMS Group.
All three had figured loudly throughout the evening, so the pressure was on to see which would make the headlines. Both CTC and PIMS were previously shortlisted for the Management Team of the Year award.
Applauded as probably the highest profile deal in the region in 2012, the Ageas Bowl transaction was described as a large and complex deal involving multiple funders and parties over a three-year period.
It saw the sale and leaseback by RB Sport & Leisure and its subsidiaries of Hampshire‘s international cricket ground and concert venue to Eastleigh Borough Council, and the provision of development funding for a four-star Hilton Hotel and spa facilities. Deloitte, PwC and Paris Smith were among the advisers involved in the deal.
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The MBO of CTC Aviation was backed by Inflexion Private Equity – winner of Private Equity Firm of the Year – with debt funding provided by HSBC and support from PwC.
With a £40m turnover, CTC is recognised as one of the leading pilot and cadet training organisations in the world, and it is now keen to expand its international reach.
The audience heard that the cross-border sale of PIMS Group to US company Xylem was advised by PwC and Shoosmiths, with Gresham Private Equity and Inflexion Private Equity both exiting.
PIMS provides wastewater support services to a wide range of clients, from facilities and property managers, retailers, developers, commercial organisations and water authorities, to domestic homeowners. The deal sees PIMS‘ breadth of services and capabilities enhance the services already offered by Xylem Water Solutions in the UK.
Asked to vote on their keypads, the winner was soon revealed as PIMS and it was Jamie Broderick, CEO wealth management UK & Jersey, of UBS Wealth Management, who was invited to present the winner‘s trophy.
THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JULY/AUGUST 2013
Speaking afterwards, Charlie White, group managing director of PIMS, said: “We were thrilled to be named Deal of the Year (over £25m) and delighted it struck such a chord with the audience on the night.
“It was an extremely complex deal which required a great deal of input and professional support from all of our advisers, a number of whom, such as PwC and Shoosmiths, were locally based and worked extremely hard to make sure it succeeded.
“To be part of Xylem, who we have worked with for many years, allows us to grow our customer base at home and abroad, invest in new technologies and add to our already impressive range of products and services.
“To receive such recognition from the corporate finance community who voted for us truly put the icing on the cake of this great deal.“
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