24 deals update


Latest deals data from across the region The Training Room (TTR)


Acquisition of FCP Internet Holdings


Completion Date: 04/10/2013 Target: The Training Room Acquirer: N/A Deal Value: £30 million


Details: Spectrum Corporate Finance LLP successfully led £18 million investment to support The Training Room, a leading provider of personal trainer training courses


Funding: LDC Corporate Finance Advisers: Spectrum Corporate Finance


Legal Advisers: Shoosmiths LLP (acted for TTR) and Osborne Clarke (acted for LDC)


Financial Due Diligence: Baker Tilly: Nick Williams, partner. Peter Vandervelde, partner. Philip Rossiter, associate director Commercial Due Diligence: CIL


Acquisition of Truscanian


Completion Date: 06/2013 Target: Truscanian Acquirer: W Lucy and Co Deal Value: Undisclosed


Details: Grant Thornton UK LLP’s Thames Valley Transaction Advisory Services team, provided financial due diligence in respect of W Lucy and Co’s acquisition of Truscanian. Truscanian, based in the Midlands, supplies bespoke bronze and aluminium metal castings to the heavy engineering industry


Financial Due Diligence: Grant Thornton UK (led by Bob Alsop) Cutting Edge Solutions


Completion Date: 01/10/2013 Target: Cutting Edge Solutions Acquirer: Prion Group & Accenture plc Deal Value: Undisclosed


Details: Mirada Corporate Partners advised the shareholders of Cutting Edge Solutions on the disposal of their remaining shares to Prion Group as part of their acquisition by Accenture


Corporate Finance Advisers: Harry Cobb of Mirada Corporate Partners


Legal Advisers: Rob Wood of Osborne Clarke Connection Capital invests in Earthmill


Completion Date: 10/2013 Target: Earthmill Acquirer: Connection Capital Deal Value: £4.1 million


Details: UK private investment firm Connection Capital has provided £4.1m of growth capital to support the expansion strategy of wind turbine installer and maintenance company Earthmill. Earthmill focuses on small scale turbines for the farming sector. The investment from Connection Capital will enable Earthmill to gear up for ’rapid’ expansion and provide additional finance for the company’s growing fleet of wind turbines. The deal represents the largest investment so far by Connection Capital since its launch in 2010


Funding: Connection Capital


Corporate Finance Advisers: Ethos Corporate Finance: Chris Silverwood


Financial Due Diligence: Baker Tilly: Rebecca Guerin, partner. James Killing, director. Steve Jacobs, tax partner Commercial Due Diligence: Jones Lang Lasalle


www.businessmag.co.uk Roughton Group


Completion Date: 09/2013 Target: N/A Acquirer: N/A Deal Value: Undisclosed


Details: Transaction involved the refinancing of the group by Santander and equity restructure which allowed for two of the shareholders to realise value and retire


Funding: YFM Equity Partners


Corporate Finance Advisers: James Cowper Corporate Finance – Stewart Lambert


Legal Advisers: Nick Gent/Lucy Grey – Trethowans (company), Coffin Mew (bank)


ISIS invests in Carousel Logistics


Completion Date: 10/2013 Target: Carousel Logistics Acquirer: ISIS Equity Partners Deal Value: Undisclosed


Details: ISIS Equity Partners has invested in Kent logistics business Carousel. The investment will support the company’s UK and Europe expansion. Carousel is a 4PL operator which designs and manages supply chain management services. The investment by ISIS will support continued business expansion in the UK and Europe and development of Carousel’s IT offering


Funding: ISIS Equity Partners Corporate Finance Advisers: Grant Thornton


Financial Due Diligence: Baker Tilly: Peter Vandervelde, partner. Rob Holmes, director. Alex Milne, assistant manager Commercial Due Diligence: Apex: Frank Proud


Completion Date: 07/2013 Target: FCP Internet Holdings Acquirer: Dillistone Group plc Deal Value: £1.95 million


Details: Grant Thornton UK LLP’s Thames Valley Transaction Advisory Services team, provided financial due diligence in respect of Dillistone Group’s acquisition of FCP Internet Holdings. FCP provides its internally developed software, evolve, in addition to training and support services to the UK recruitment sector


Corporate Finance Advisers: Ignition Corporate Finance (Target advisers)


Legal Advisers: Ashfords LLP (Acquirer advisers) Financial Due Diligence: Grant Thornton UK (led by Bob Alsop)


Sale of County Cabins


Completion Date: 02/10/2013 Target: County Cabins Acquirer: Wessex Eagle Deal Value: Undisclosed


Details: Baker Tilly advised County Cabins and originated the buyer. County Cabins is a highly respected Christchurch-based cabin hire business servicing the commercial, government, military and education sectors. Wessex Eagle is a national plant hire business headquartered out of Chard, Somerset


Corporate Finance Advisers: Baker Tilly: John Daly, partner. Rob Jones, deal executive


Investment in Shropshire Leisure Group


Completion Date: 09/2013 Target: Shropshire Leisure Group Acquirer: Rcapital Partners LLP Deal Value: Undisclosed


Details: Investment in Shropshire Leisure Group by Rcapital Partners. Shropshire Leisure Group are an independent leisure operator and owner of hotels, restaurants, bars, a country club and a garden centre


Funding: Rcapital Partners Corporate Finance Advisers: Gambit Corporate Finance Legal Advisers: Addleshaw Goddard LLP: Tim Wheldon


Financial Due Diligence: Baker Tilly: James Carnegie, Darren Miller and Peter Vandervelde


Acquisition of Millbrook Proving Ground


Completion Date: 02/10/2013 Target: Millbrook Proving Ground Acquirer: Rutland Partners LLP Deal Value: Undisclosed


Details: HMT, led by partner Andrew Thomson and executive Julia Carruthers, advised Rutland Partners LLP on the acquisition of Millbrook Proving Ground, one of Europe’s leading test and engineering solution providers, from US automotive giant General Motors


Funding: Rutland Partners LLP Corporate Finance Advisers: HMT LLP Legal Advisers: Taylor Wessing LLP Financial Due Diligence: BDO LLP


GTK


Completion Date: 10/10/2013 Target: GTK (UK) Acquirer: Newco Deal Value: Undisclosed


Details: The management team, who bought out the company, were backed by YFM Equity Partners. The James Cowper Corporate Finance team advised the vendor, a long-term client of the firm, being involved in all aspects of the process


Funding: YFM Equity Partners Corporate Finance Advisers: James Cowper LLP Legal Advisers: Blandy & Blandy LLP and Osborne Clarke Financial Due Diligence: Haines Watts Corporate Finance


Next Deadline


The next Deals Update will appear in our December13/January14 issue


Deadline for submissions is Monday November 11


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 – SOLENT & SOUTH CENTRAL – NOVEMBER 2013


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