22 deals update Latest deals data from across the region
Project Gemini
Completion Date: 13/12/2013 Target: The Communications Centre Acquirer: OneCom Deal Value: Undisclosed
Details: Clarke Willmott LLP advised OneCom, the UK’s largest independent B2B communications provider, on its acquisition of Gloucestershire-based telecoms specialist, The Communications Centre. The strategic acquisition creates a company with a turnover of over £40 million, and is the third acquisition completed by Clarke Willmott for OneCom in four months
Legal Advisers: Clarke Willmott – Lawrence Furlong and Kelvin Balmont
Financial Due Diligence: Johnston Wood Roach Profect Canary
Completion Date: 12/12/2013 Target: Medvance Acquirer: North American Science Associates Inc Deal Value: Undisclosed
Details: US-based North American Science Associates Inc (NAMSA) acquires Medvance. NAMSA is a leading global medical research organisation and the acquisition of Medvance adds dedicated support across UK and continental Europe to NAMSA’s already successful global footprint in the US, Germany, France and China
Legal Advisers: Mike Watson and Lucy Grey of Trethowans LLP for the acquirer. Jonathan Simms of Clarion Solicitors for the sellers
Financial Due Diligence: Stephen Green of Baker Tilly Park Holidays sale to Caledonia
Completion Date: 11/2013 Target: Park Holidays Uk Acquirer: Caledonia Investments Deal Value: £172 million Details: Acquisition of Park Holidays by Caledonia Investments Funding: HSBC, RBS, LBG, Barclays and Santander
Radar Tank Gauging
Completion Date: 20/12/2013 Target: Radar Tank Gauging Acquirer: Newco Deal Value: Undisclosed
Details: Partial management buyout. James Cowper advised the vendors Corporate Finance Advisers: James Cowper Legal Advisers: Morgan Cole
Equity investment in Lewis Marquees (Westbourne)
Completion Date: 31/12/2013 Target: Lewis Marquees (Westbourne) Acquirer: Newco formed by new investors Deal Value: Undisclosed
Details: New equity investment in Lewis Marquees (Westbourne), together with a new incoming member of the senior management team. Lewis Marquees are a long established company specialising in the hire and manufacture of marquees for private functions and corporate events in the West Sussex, East Sussex and Hampshire regions
Legal Advisers: Coffin Mew (Richard Swain)
www.businessmag.co.uk Project Foxtrot
Completion Date: 12/11/2013 Target: Merger of Wilkins Kennedy and C W Fellowes Accountants Deal Value: Undisclosed
Details: The merger resulted in a total of nine directors and 70 staff from CW Fellowes joining Wilkins Kennedy, bringing the staff total to over 500 employees. One of the largest mergers in Wilkins Kennedy’s 130-year history, the merger also increases the tax, professional services and outsourcing departments of the firm
Legal Advisers: Coffin Mew (Amanda Brockwell and Tom Storey) City & County Healthcare Group
Completion Date: 12/2013 Target: City & County Healthcare Group Acquirer: Management and Graphite Capital Deal Value: £110 million
Details: Secondary buyout from Sovereign Capital Partners LLP with backing from Graphite Capital Funding: Graphite Capital Legal Advisers: Reed Smith, DLA Piper, Keystone Financial Due Diligence: KPMG Commercial Due Diligence: LEK Consulting
Project Stark
Completion Date: 23/12/2013 Target: Impatex Freight Software Acquirer: Decartes Systems Group Inc Deal Value: £5.1 million
Details: Spectrum Corporate Finance successfully completed the cross-border disposal of Impatex Freight Software to Descartes Systems Group Inc, headquartered in Waterloo Canada
Corporate Finance Advisers: Spectrum Corporate Finance
Legal Advisers: Field Fisher Waterhouse (buy-side), Lawdit (sell-side)
DBC Pension Services
Completion Date: 11/2013 Target: DBC Pension Services Acquirer: HS Administrative Services Deal Value: Undisclosed
Details: Consolidation in the pensions sector: DBC Pension Services specialises in third-party group pension schemes working on behalf of trustees of group pensions with up to 2,000 members. The acquirer is HS Administrative Services, a specialist third party pensions administrator of defined benefit, defined contribution, hybrid and career average pensions schemes working with FTSE and multinational companies
M&A Adviser: BCMS Project Pope
Completion Date: 29/11/2013 Target: Whiteoaks Consultancy Acquirer: Newco Deal Value: Undisclosed
Details: Whiteoaks PR, consisting of the management buyout team led by James Kelliher, acquired Whiteoaks Consultancy. James Cowper advised the senior management team of Whiteoaks PR backed by Lloyds Bank
Funding: Lloyds Corporate Finance Advisers: James Cowper Legal Advisers: BakerLaw
Britax refinance
Completion Date: 11/2013 Deal Value: Undisclosed
Details: Refinance of existing debt through the US Term Loan B institutional market Funding: US Term Loan B Market Corporate Finance Advisers: HSBC and Goldman Sachs
Project Stone
Completion Date: 12/2013 Target: Pebble Property Management and Lettings Acquirer: Countrywide Deal Value: Undisclosed
Details: Countrywide acquired the entire issued share capital of Pebble Property Management and Lettings, a prestigious lettings agency located in Lymington
Legal Advisers: Oliver Kelly, Abi Dowling and Rebecca Chafer of Lamport Bassitt (sellers). DWF LLP (buyers)
Project Elliott
Completion Date: 6/01/2014 Target: ET Travel Acquirer: The Appointment Group Deal Value: Undisclosed
Details: Stewart Lambert and Lamport Bassitt advised The Ap- pointment Group, a travel and event management business with offices in London, New York, Los Angeles, Melbourne and Sydney, on the acquisition of the entire issued share capital of ET Travel, a travel management company specialising in the entertainment and corporate sectors, and the subsequent re-investment by the Sellers in The Appointment Group
Corporate Finance Advisers: Buyer – Stewart Lambert of Atkinson Lambert
Legal Advisers: Buyer – Sean Kelly, Oliver Kelly, Abi Dowling and Malin Svanberg Larsson of Lamport Bassitt
Advisers: Seller – Mcgrath LLP and MHA McIntyre Hudson Financial Due Diligence: Buyer – James Cowper
Bainbridge International
Completion Date: 28/11/2013 Target: Bainbridge International Acquirer: Newco formed by management Deal Value: Undisclosed
Details: Jan O’Connor, managing director of Bainbridge Inter- national, acquired the company from its US holding company. Founded in 1917, Bainbridge International is one of the longest established sailcloth manufacturers in the world, with almost a century's experience in developing and supplying the highest quality, highest performance materials to the marine industry in UK, Europe and further afield
Funding: Lloyds Bank (Dave Clarke) and Lloyds Bank Commercial Finance (John Graham)
Corporate Finance Advisers: Baker Tilly (David Copley) Legal Advisers: Coffin Mew (Amanda Brockwell, Richard Swain) Financial Due Diligence: Baker Tilly
Next Deadline
The next Deals Update will appear in our March 2014 issue
Deadline for submissions is Monday February 10
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 – FEBRUARY 2014
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