38 deals update
Latest deals data from across the region Disposal of Swift Worldwide Resources
Roughton Group
Completion Date: 04/11/2013 Target: Swift Worldwide Resources Acquirer: Wellspring Capital Management LLC Deal Value: Undisclosed
Details: HMT LLP, led by partner Ian Barton, advised Swift Worldwide Resources, the market-leading specialist recruitment provider for the global oil & gas industry, on its sale to US private equity firm Wellspring Capital Management. The complex cross- border transaction marks HMT’s first deal over £100 million
Corporate Finance Advisers: HMT Legal Advisers: Burges Salmon, DLA Piper
Project Rose
Completion Date: Exchange: 14/10/2013; due to complete at the end of December 2013
Target: The majority of the UK solid waste business of Shanks Waste Management
Acquirer: Biffa Waste Services Deal Value: £9.5 million
Details: Biffa Waste Services has acquired the majority of Shanks Waste Management’s UK solid waste business for £9.5m. The acquisition includes the transfer of 11 waste transfer facilities in England and Scotland and around 300 employees will transfer to Biffa as part of the deal
Corporate Finance Advisers: Deloitte LLP
Legal Advisers: Alex Zachary, corporate and commercial – B P Collins LLP; Harriet Jones, corporate and commercial – B P Collins Jo Davis, employment – B P Collins; Chris Brazier, employment – B P Collins; Michael Larcombe, commercial property – B P Collins; Maria Mowberry, commercial property – B P Collins; Shona Dunning, commercial property – B P Collins
Financial Due Diligence: Deloitte Commercial Due Diligence: B P Collins and Deloitte
Mountain Warehouse Project Data
Completion Date: 04/11/2013 Deal Value: Undisclosed
Details: Disposal of marketing services business to multinational consultancy Corporate Finance Advisers: James Cowper – Stuart Williams Legal Advisers: Burlingtons LLP – Joss Alcraft and Andrew Pike Financial Due Diligence: BDO
Project Remus
Completion Date: 30/09/2013 Target: Romans Group Acquirer: Bowmark Capital Partners Deal Value: Undisclosed Details: Bowmark Capital funded MBO of Romans Group Funding: RBS and HSBC, Thames Valley Corporate Finance Advisers: Spectrum Corporate Finance Legal Advisers: Osborne Clarke Financial Due Diligence: PwC Commercial Due Diligence: Deloitte LLP
www.businessmag.co.uk Sale of Aldershot Town FC
Completion Date: 01/08/2013 Target: Aldershot Town FC Acquirer: Consortium led by Shahid Azeem Deal Value: Undisclosed
Details: HMT LLP, led by partner Mark Lucas and associate director Peter Wear, advised Quantuma Restructuring on its sale of Aldershot Town FC out of administration to a consortium of investors led by local businessman Shahid Azeem
Corporate Finance Advisers: HMT Next Deadline
The next Deals Update will appear in our February 2014 issue
Deadline for submissions is Thursday January 16
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 – DECEMBER13/JANUARY14
Completion Date: 10/2013 Target: Mountain Warehouse Group Acquirer: MBO Deal Value: £85 million
Details: Debt-funded management buyout of LDC minority interest in Mountain Warehouse Group Funding: RBS (senior debt) and Alcentra (mezzanine debt) Corporate Finance Advisers: Spectrum Corporate Finance Legal Advisers: Wragge & Co Financial Due Diligence: Deloitte LLP Commercial Due Diligence: Pragma Consulting
Completion Date: 11/11/2013 Target: Virgin Wines
Acquirer: Management of Virgin Wines supported by Connection Capital LLP and Mobeus Equity Partners LLP Deal Value: £15.9 million
Details: Spectrum Corporate Finance led the arranging and structuring of the MBO of Virgin Wines from Direct Wines with equity funding provided by Connection Capital and Mobeus Equity Partners
Funding: Connection Capital, Mobeus Equity Partners and PNC Business Credit
Corporate Finance Advisers: Spectrum Corporate Finance
Legal Advisers: Shoosmiths LLP, Gateley LLP and Marriott Harrison LLP Financial Due Diligence: HMT LLP Commercial Due Diligence: Latitude Partners LLP
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: Santander
Corporate Finance Advisers: James Cowper Corporate Finance – Stewart Lambert
Legal Advisers: Nick Gent/Lucy Grey – Trethowans (company), Coffin Mew (bank)
Project Rainbow Acquisition of Portsmouth Communications
Completion Date: 30/09/2013 Target: Portsmouth Communications Acquirer: 5G Communications Deal Value: Undisclosed
Details: Portsmouth Communications provide structured network cabling (including fibre optic) and audio visual system solutions for organisations in addition to the supply of fixed line telephony services and installation/maintenance of telephone systems. Andy Frewin of Advisory Plus is working with 5G Communications to identify suitable target businesses for acquisition as part of 5G’s growth strategy. Portsmouth Communications’ specialism in cabling and audio visual solutions were of particular interest to 5G as was the location in Portsmouth which strengthens the groups engineering presence in the area as well as expanding its product portfolio
Legal Advisers: David Wathen and Stephen Pierce (corporate finance), John Morgan (property), Carol Trick (tax) of Bond Dickinson LLP, acting for the acquirer
Deal Origination: Andy Frewin of Advisory Plus, acting for the acquirer
GTK MBO
Completion Date: 10/2013 Target: GTK (UK) Acquirer: Newco Deal Value: Undisclosed
Details: YFM Equity Partners provided funding for the MBO of GTK UK. Commenting on the due diligence work provided by HWCF, Paul Cannings, director at YFM, said: “Charles Whelan and his team understood the key issues we were looking to address and focused their work on these, taking an intelligent and com- mercial approach“
Funding: YFM Equity Partners Corporate Finance Advisers: James Cowper LLP Legal Advisers: Blandy & Blandy LLP and Osborne Clarke Financial Due Diligence: HW Corporate Finance LLP
Project Daffodil Deal Value: Undisclosed
Details: Acquisition of a healthcare business by PE backed nationwide group Corporate Finance Advisers: James Cowper – Stuart Williams
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