22 deals update


Latest deals data from across the region Refinancing of Croft Associates


Acquisition of Transport and Travel Research


Completion Date: 04/2014 Target: Croft Associates Deal Value: Undisclosed


Details: HMT LLP, led by director Paul Read undertook financial due diligence for Santander Growth Capital on its growth funding for Croft Associates, the UK’s foremost developer of packaging, storage and transportation solutions for radioactive waste


Funding: Santander Growth Capital Legal Advisers: Wragge & Co Financial Due Diligence: HMT


Completion Date: 14/04/2014 Target: Transport and Travel Research Acquirer: TRL (Transport Research Laboratories) Deal Value: Undisclosed


Details: The two organisations share strong track records working in UK government, European and other international markets in fields such as sustainable transport, low-carbon vehicles, air quality and low-emission strategies and freight policy and efficiency. Joint teams have worked in a number of high-profile projects in the UK, including Transport for London’s trials for ’Out of Hours Delivery Services’ prior to the 2012 Olympics, and its major programme of Safer Cycling Innovation trials in 2013, so an acquisition to join up the dots made sense


Funding: Cash acquisition Corporate Finance Advisers: EC Rabben and Partners Legal Advisers: Richard Swain and Amanda Brockwell


Project Elephant


Completion Date: 16/04/2014 Target: European Wealth Management Group Plc Acquirer: EW Group Deal Value: Undisclosed


Details: James Cowper Corporate Finance was appointed as reporting accountants in respect of the reverse acquisition of European Wealth Management Group Plc into EW Group - an AIM listed company


Corporate Finance Advisers: James Cowper LLP, Daniel Stewart & Company Plc


Legal Advisers: Laytons Solicitors LLP Shareholder restructuring of Orion Electrotech


Completion Date: 05/2014 Deal Value: Undisclosed


Details: HMT LLP, led by partner Andrew Thomson and senior manager Matthew Gordon-Smith, advised Sterling Recruitment (Orion) on its shareholder restructuring. As part of the transaction, shareholder Keith Taylor exits the business which will continue to be led by existing shareholders Chris Benham and John Waters


Corporate Finance Advisers: HMT Legal Advisers: Boyes Turner, Allan Janes


Bioventix Plc


Completion Date: 30/04/2014 Target: Bioventix Plc Deal Value: Undisclosed


Details: AIM IPO of Farnham-based biotechnology company Bioventix Plc. James Cowper Corporate Finance acted as reporting accountants for the company and the transaction was completed in four weeks


Corporate Finance Advisers: James Cowper LLP, finnCap Legal Advisers: Charles Russell LLP, Wise & Co


Project Birch


Completion Date: 03/2014 Target: Kondor Deal Value: Undisclosed


Details: Spectrum Corporate Finance successfully supported the management buyout of Kondor by the provision of buy-side advice to core sponsor HIG Capital


Funding: HIG Capital, Royal Bank of Scotland and Pricoa Capital Corporate Finance Advisers: Spectrum Corporate Finance


Next Deadline


The next Deals Update will be in our July/ August issue


Deadline for submissions is Monday June 16 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


Maidman’s sold to White & Company


Removal company Maidman’s, based in Bournemouth, has been acquired by friendly rival White & Company plc for an undisclosed sum. The new company will operate independently of White & Company’s own Bournemouth facility and will provide services to the domestic and commercial moving market in Bournemouth and the New Forest.


White & Company is based in Botley, Southampton, and is an international, domestic and office mover with an existing network of 18 branches in the UK, Germany and Majorca.


All Maidman’s staff will be retained and the company will continue to operate under its own brand, managed by Steve Webber.


The acquisition will allow director Brian Maidman to exit the removal industry to develop his Store & Secure brand of self- storage, where significant investment is being made.


He said: “After 35 years in the removals industry, developing Maidman’s to its size and enviable reputation, I wanted to concentrate on Store & Secure. Both my daughters will work with me and we’ll operate as a family business. Our plan is to develop a multi-site operation; we definitely have growth in mind and will be very active in the market. Regarding the sale of Maidman’s – we didn’t want just any buyer, it had to be a company that could maintain the Maidman’s reputation and retain all the staff.“


Ian Palmer of White & Company and Maidman have cooperated in business and at director level within the British Association of Removers for many years and are equally delighted that such an amicable acquisition has been achieved.


Brian Maidman (left) and Ian Palmer at the handover of Maidman’s to White & Company www.businessmag.co.uk


Maidman’s daughter Sophie will remain with the new company for a three-month period to achieve a smooth handover and will then join her father in the Store & Secure self- storage brand.


THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JUNE 2014


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36