26 deals update Latest deals data from across the region
Sale of Signify Solutions to Accumuli plc
Completion Date: 13/06/2013 Target: Signify Solutions Acquirer: Accumuli plc Deal Value: £4.2 million
Details: A team from Transcend Corporate, led by Ian Aldridge, has advised the shareholders of Signify Solutions on its sale to Accumuli plc for £4.2m. Signify provides cloud-hosted, managed service Two-Factor Authentication to over 250 end customers, which enables secure, remote access to their systems and information
Funding: Cash resources
Corporate Finance Advisers: Transcend Corporate Legal Advisers: DAC Beachcroft LLP, Taylor Vinters LLP Financial Due Diligence: Grant Thornton UK LLP
Acquisition of office solutions provider
Completion Date: 30/04/2013 Target: Office equipment and supplies manufacturer Acquirer: Office solutions supplier Deal Value: £770,000
Details: Herrington & Carmichael LLP advised Thames Valley based office equipment and supplies manufacturer on the successful acquisition of entire issued share capital of office solutions provider
Legal Advisers: Yavan Brar, Charlotte Harrison & Michelle Lamberth (corporate), Herrington & Carmichael
Micronics Completion Date: 06/2013
Details: HW Corporate Finance LLP announced the successful growth capital fundraising for Micronics, a business specialising in proprietary products for the electronic flow metering industry. The team at HWCF led by partner David Lock worked closely with management to develop the business plan before sourcing and negotiating a highly-tailored debt funding package
Funding: NatWest Bank Corporate Finance Advisers: David Lock, HWCF
MBI of Andante Travels
Completion Date: 05/2013 Target: Andante Travels Acquirer: Management and Panoramic Growth Equity Deal Value: Not disclosed Funding: Panoramic Growth Equity Corporate Finance Advisers: James Cowper Corporate Finance
Legal Advisers: Lamport Bassitt LLP (management), Vialex LLP (funders), Trethowans LLP (vendors) Financial Due Diligence: HMT
Acquisition of Okini by MenInvest SAS
Completion Date: 22/05/2013 Target: Okini Acquirer: MenInvest SAS Deal Value: Not disclosed
Details: HMT LLP, led by partner Andrew Thomson, director Paul Read and associate director Holly Bedford, advised MenInvest SAS, a French menswear-focused media, e-commerce and publishing group, on the acquisition of Okini, a London-based online retailer of premium designer menswear
Financial Due Diligence: HMT
www.businessmag.co.uk Acquisition by Tasker Ventures Completion Date: 05/2013
Target: Gresham Services and LMI (trade and assets thereof), and Target IT Acquirer: Tasker Ventures Deal Value: Not disclosed
Details: Bolt-on acquisition by Tasker Ventures, a portfolio company of PE house Alcuin, of the trade and assets of Gresham Services (an FSA authorised underwriting agency) and LMI (an independent retail insurance broker). Tasker Ventures also acquired the shares of Target IT
Funding: Alcuin
Legal Advisers: Lawrence Graham (legal advisers for Tasker/ Alcuin)
Financial Due Diligence: RSM Tenon: Rebecca Guerin, partner. James Killing, director
Acquisition of White Knight Recruitment
Completion Date: 05/2013 Target: White Knight Recruitment Acquirer: 1-1 Recruitment Deal Value: Not disclosed
Details: Acquisition of White Knight Recruitment by 1-1 Recruitment. White Knight is a Government Procurement Service (GPS) registered provider of temporary administrative staff into the NHS. 1-1 Recruitment is a provider of administrative staff into commercial (non-GPS) organisations. RSM Tenon has provided due diligence on the company‘s previous four acquisitions
Legal Advisers: Coffin Mew
Financial Due Diligence: RSM Tenon: David Copley, partner. Alex Milne, assistant manager
Tax Advisers: RSM Tenon: Michelle Harris, partner (tax). Nicola Holmes, manager (VAT)
Project Igloo
Completion Date: 16/05/2013 Target: Interlaken Group Acquirer: Lowell Finance Deal Value: Not disclosed
Details: Osborne Clarke (Sara Valentine and Caroline Drummond) and Deloitte LLP (Mark Allen and Rinesh Dookhee) acted for Simon and Roy Jones on the sale of Interlaken Group to Lowell Finance
Corporate Finance Advisers: Deloitte LLP (Mark Allen) Legal Advisers: Osborne Clarke (Sara Valentine)/Linklaters Financial Due Diligence: PwC Commercial Due Diligence: Lowell
Anaerobic Digestion Facility
Completion Date: 08/05/2013 Target: Anaerobic Digestion Facility Acquirer: National waste management services provider Deal Value: £5 million
Details: Herrington & Carmichael LLP advised on the provision of £5m split equity/loan note facility provided by a national waste management services provider to a private equity-backed anaerobic digestion facility operater
Legal Advisers: Yavan Brar, Alex Canham & Michelle Lamberth (corporate), Herrington & Carmichael LLP
Financial Due Diligence: Investor Commercial Due Diligence: Investor Tax Advisers: Investor
CEO John O'Hanlon and Chairman David Newman, and the Pitman's team
The transaction, which was completed May 29, was led by Pitmans automotive corporate partner Stephanie Perry, assisted by commercial property partner Delphine Mehousas and various other specialists throughout the firm. John O’Hanlon, CEO, Ridgeway Group, said: “I am delighted with the advice and support given by Stephanie Perry who works extremely hard to complete deals and is a trusted adviser to us on legal matters, bringing commercial sense and practicality to our legal affairs. Ridgeway can’t recommend her enough.”
Disposal of Unique ID
Completion Date: 03/06/2013 Target: Unique ID (Holdings) Acquirer: M-Netics Holdings Deal Value: Not disclosed
Details: HMT LLP, led by partner Andrew Thomson and manager Matthew Gordon-Smith, advised the shareholders of Unique-ID, a specialist supplier of mobile solutions, auto-ID equipment, RFID and tracking products to the UK logistics market, on its disposal to M-Netics, a leading supplier of mobile solutions
Corporate Finance Advisers: HMT Legal Advisers: Allan Janes
Admission to AIM of One Media IP Group PLC
Completion Date: 05/2013 Target: One Media IP Group PLC Deal Value: Not disclosed Reporting Accountants: James Cowper Corporate Finance Legal Advisers: Hamlins LLP
Next Deadline
The next Deals Update will appear in our September 2013 issue
Deadline for submissions is Monday August 13
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 – JULY/AUGUST 2013
Pitmans advises in Ridgeway acquisition
Leading law firm Pitmans has acted on behalf of ‘Dealer Group of the Year’, Ridgeway Group over its recent acquisition of Oxford’s Land Rover dealership. Making its first steps into the Land Rover brand, the acquisition of the Cumnor site, from Hartwell plc, for an undisclosed sum, will see the Group rebrand in the future to Ridgeway Land Rover.
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