16 deals update Acquisition by Redeem Holdings of Envirofone
Completion Date: 30/01/2014 Target: Envirofone Acquirer: Redeem Holdings
Details: HMT LLP, led by partner Andrew Thomson and associate director Peter Wear, advised Redeem Holdings, the leading international provider of mobile phone and electronic gadget recycling and recommerce services, on the acquisition of Eazyfone (Envirofone), one of the longest standing mobile phone recyclers in the UK
Corporate Finance Advisers: HMT Legal Advisers: Osborne Clark Financial Due Diligence: HMT
Datwyler UK MBO
Completion Date: 01/2014 Target: Datwyler UK Acquirer: Management
Details: HW Corporate Finance LLP has announced the successful MBO of Datwyler UK from its £1 billion turnover, listed, Swiss parent Datwyler Holding Inc. The business, to be rebranded IDAC Solutions, specialises in providing high-quality cabling solutions. HWCF provided full lead advisory and project management services from inception to completion
Debt: Russell Harker and Mark Hill (Lloyds Bank) Corporate Finance Advisers: David Lock (HWCF)
Legal Advisers: Sean Kelly and Malin Svanberg-Larsson (Lamport Bassitt)
Millgate merger with Countryside
Completion Date: 10/02/2014 Target: Countryside Acquirer: Millgate
Details: Osborne Clarke advised Millgate on its merger with Brentwood-headquartered Countryside. The Osborne Clarke team was led by head of markets at Osborne Clarke, partner Greg Leyshon who was assisted by associate director Rebecca Clarke and senior associate Vicky Dudding
Funding: Barclays
Corporate Finance Advisers: Rothschild and Quercus Corporate Finance
Legal Advisers: Osborne Clarke (Millgate) and Ashursts (Countryside) Financial Due Diligence: KPMG Commercial Due Diligence: Property Due Diligence DTZ
Investment in Kingsbridge Risk Solutions
Completion Date: 01/2014 Target: Kingsbridge Risk Solutions Acquirer: ISIS Equity Partners
Details: Baker Tilly provided financial due diligence to ISIS Equity Partners with regards its investment in Kingsbridge Risk Solutions. Kingsbridge is a leading commercial insurance broker mainly operating within niche sectors (eg water utilities). Additionally, it has developed a combined risk insurance policy for professional contractors, which has resulted in significant growth
Funding: ISIS Equity Partners Corporate Finance Advisers: Resolution Partners Legal Advisers: Pinsent Masons (Buy-side legal advisers)
Financial Due Diligence: Baker Tilly: Peter Vandervelde, partner. Rebecca Guerin, partner. Philip Rossiter, associate director. Sarah Hodges, executive
Commercial Due Diligence: CIL
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Completion Date: 13/01/2014 Target: Personal Homefinders Acquirer: Countrywide Plc
Details: Personal Homefinders have been acquired by Countrywide plc, in a deal managed by international M&A adviser BCMS. Hampshire’s Personal Homefinders is a full-service lettings agency and property investment consultancy with branches in Winchester, Chandlers Ford and Eastleigh. Countrywide plc is a leading provider of integrated property services operating the UK’s largest estate agency and lettings network, alongside its operations in surveying and valuation, conveyancing, asset management, land banking and property auctions
M&A Advisers: BCMS Acquisition of DART Training by Reaseheath College
Completion Date: 19/12/2013 Target: DART Training Acquirer: Reaseheath College
Details: HMT LLP, led by partner Mark Lucas and associate director Peter Wear, advised Reaseheath College, one of the UK’s leading specialist land-based colleges, on the acquisition of specialist private training provider DART Training
Corporate Finance Advisers: HMT Legal Advisers: Walker Smith Way Financial Due Diligence: HMT
Latest deals data from across the region Sale of Leasedrive
Zinwave sale to McWane Technology
Completion Date: 06/12/2013 Target: Leasedrive Acquirer: Hg Capital
Details: Osborne Clarke has advised the shareholders of the Leasedrive Group on the sale of the business to Hg Capital. The OC Team was led by Greg Leyshon and Alisdair Livingstone who were supported by Michael Bell (tax), Jeff Chang (corporate), Emma Barr (Corporate), Vicky Dudding (corporate), Chris Marrable (banking), Tracey Wright (tax) and Mark Braude (tax)
Funding: HG Capital Corporate Finance Advisers: Ernst & Young Legal Advisers: Osborne Clarke (Leasedrive) – Weil Gotshal
A1
Completion Date: 04/02/2014 Target: A1 Hair and Beauty Supplies Acquirer: Salon Supplies
Details: Lamport Bassitt advised Salon Supplies, one of the UK’s leading distributors of professional hair and beauty products (with its HQ in Southampton), on the strategic acquisition of A1. This is the 3rd acquisition Salon Supplies has completed in the past 12 months. The acquisition provides Salon Supplies with its 10th trading location
Legal Advisers: Oliver Kelly, John Newton, Abi Dowling and Rebecca Chafer of Lamport Bassitt advised Salon Supplies
Project Lafayette
Completion Date: 21/01/2014 Target: Asmodee/Esdevium Games Acquirer: Eurazeo Deal Value: €143m
Details: Spectrum Corporate Finance and Stevens & Bolton advised the shareholders of Esdevium Games on their full sale to Asmodee, and also advised the UK management team on their substantial investment into a Newco set-up by Eurazeo to acquire Asmodee
Funding: Eurazeo, France Corporate Finance Advisers: Spectrum Corporate Finance Legal Advisers: Stevens & Bolton
Personal Homefinders
Completion Date: 24/01/2014 Target: Subsea Vision Acquirer: James Fisher and Sons plc
Details: James Fisher and Sons plc, the leading Marine Services business, acquired Poole-based Subsea Vision. Subsea Vision owns and operates remotely operated vehicles (ROV) providing underwater surveys, inspections and construction support to the oil and gas industry including floating, production, storage and offtake vessels. Subsea Vision adds to James Fisher's marine support services division and will report to one of its subsidiaries, Fendercare
Corporate Finance Advisers: EC Hambro Rabben & Partners
Legal Advisers: Coffin Mew (for James Fisher & Sons plc) – Amanda Brockwell and Richard Swain Financial Due Diligence: KPMG
Compass Computer Consultants
Completion Date: 31/01/2014 Target: Compass Computer Consultants Acquirer: Advanced Computer Software Group Plc Deal Value: £14.5 million
Details: Further Education software developer Compass Computer Consultants has been acquired by Advanced Computer Software Group Plc for a total cash consideration of £14.5m. The acquirer, Advanced Computer Software Group Plc, is one of the UK’s leading suppliers of software and IT services to the health, care and commercial sectors. Listed on the AIM London Stock Exchange, Advanced Computer Software Group Plc is led by Vin Murria, widely recognised as one the UK’s leading technology entrepreneurs
M&A Advisers: BCMS Next Deadline The next Deals Update will be in our April issue
Deadline for submissions is Monday March 10 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 – MARCH 2014
Completion Date: 31/01/2014 Target: Zinwave Acquirer: McWane Technology Inc
Details: The acquisition joins Zinwave and its unique wideband active Distributed Antenna System (DAS) to a growing number of international high-tech companies operating within the McWane Technology Group. While Zinwave will become a wholly-owned subsidiary of Birmingham, Alabama-based McWane, it will continue to trade as an independent company and maintain its established corporate identity. Other members of McWane’s world-spanning Technology Group include Comtech, Futurecom, Nighthawk and Synapse
Corporate Finance Advisers: Acuity Advisors Legal Advisers: Eversheds
Wessex Fertility Completion Date: 31/01/2014
Details: Darren Thompson and Philip Mettam of Meridian Corporate Finance LLP advised Wessex Fertility on the purchase of the clinic from which they operate in Southampton, with funds being provided by NatWest. The purchase secures the business for the future and provides a base on which to grow operations
Funding: NatWest Corporate Finance Advisers: Meridian Corporate Finance Legal Advisers: Shoosmiths LLP
Project Seabed
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