deals update 45 Project Jackson
Completion Date: 19/05/2014 Target: Wunelli Acquirer: LexisNexis Risk Solutions UK Deal Value: Undisclosed
Details: Moore Blatch advised the shareholders of Wunelli in the sale of the company to LexisNexis. The combined datasets of the target and the buyer group will result in one of the largest provider-held insurance telematics databases in the world
Corporate Finance Advisers: Baker Tilly (Darren Miller, Michelle Harris), Hines Associates
Legal Advisers: Moore Blatch: Roger Bailey, Jeremy Over and Dorothy Agnew (for vendor)
Completion Date: 16/05/2014 Target: JP Glass & Décor Acquirer: Yates Engineering Services Deal Value: Undisclosed
Sale of Rosevale Holdings to Busy Bees
Completion Date: 30/05/2014 Target: Rosevale Holdings Acquirer: Busy Bees Deal Value: Undisclosed
Details: Privately-owned Rosevale Holdings sold its 12 Surrey nurseries trading under the names of Caring Daycare, Major Minors and Noah’s Ark to Busy Bees, a Staffordshire- headquartered chain of 238 nurseries. The sale is the largest this year in terms of both portfolio value and capacity in the childcare sector
Legal Advisers: Penningtons Manches LLP for the vendors; gunnercooke for the acquirer
Financial Due Diligence: Roffe Swayne for the vendors; Baker Tilly for the acquirer
Specialist childcare property adviser and introducer: Christie + Co
Details: JP Glass has a reputation as one of the leading glass processors in the country. With significant experience in the industry, Darren Yates will look to grow the business whilst the former owners enjoy retirement. The deal was fully financed by HSBC and put together by WK Corporate Finance LLP
Funding: HSBC Corporate Finance Advisers: WK Corporate Finance Legal Advisers: Clarke Willmott Financial Due Diligence: WK Corporate Finance
Sale of Layer 3 Advanced Business Solutions
Completion Date: 31/05/2014 Target: Layer 3 Advanced Business Solutions Acquirer: Daisy Communications Deal Value: Undisclosed Corporate Finance Advisers: Carpenter Box LLP
Legal Advisers: Thomas Eggar LLP acting for the vendors. Fielden Law LLP acting for the acquirer
Sale of PSD Holdings and Lane Packaging
Wilson Partners Corporate Finance has successfully advised the shareholders of Lane Packaging on their sale to Macfarlane Group plc.
Project Glass
The sale provided a retirement exit for the shareholders and a perfect home for the ongoing business, said Wilson Partners. “As in most owner-managed businesses there is a great amount of pride in the people and market positioning of the business, so the challenge was not only to negotiate an attractive deal but to find an acquirer that would be able to seamlessly continue, integrate and build upon the business.”
Gordon Lane of Lane Packaging said: “Wilson Partners provided expert advice throughout our sale, keeping us calm and focused in what, for most owners, is a once-in-a-lifetime transaction and no doubt usually a very stressful process.”
Acquisition by Redeem of Mobilepoint and Insitu Completion Date: 05/2014
Target: Eco Mobile Green Center (Mobilepoint) and Insitu Moviles SL Acquirer: Redeem Holdings Deal Value: Undisclosed
Project Fero
Completion Date: 05/2014 Acquirer: UK plc
Details: Meridian Corporate Finance LLP advised the shareholders of Project Fero, a manufacturer in the fire safety sector
Corporate Finance Advisers: Michael Barcia and Philip Mettam, Meridian Corporate Finance Legal Advisers: Blake Morgan LLP Financial Due Diligence: BDO LLP
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 Eco Mobile Green Center SL (Mobilepoint) and Insitu Moviles SL (Insitu), a leading mobile phone recommerce and repair business based in Madrid, Spain
Corporate Finance Advisers: HMT Legal Advisers: Osborne Clarke Financial Due Diligence: E&Y (Madrid)
John Love, CFO of Macfarlane Group, commented: “We are delighted with the acquisition of Lane Packaging, which is part of our strategy focused on good-quality businesses, enhancing geographic coverage and improving market penetration. Adam Wardle and his team at Wilson Partners were professional throughout the transaction.”
Gordon Lane and Michael Lane commented on behalf of the shareholders of PSD Holdings and Lane Packaging: “This was arguably the most important transaction of our careers. We are absolutely delighted with the result, which has both met and exceeded our expectations.”
Project Portugal Project Chiefs
Completion Date: 14/04/2014 Target: Kivernell Care Acquirer: Home Help UK Deal Value: Undisclosed
Details: The acquisition of Kivernell Care for an undisclosed fee by Home Help UK is a another step in its buy-and-build strategy Funding: Acquirer funds Corporate Finance Advisers: WK Corporate Finance Legal Advisers: Blake Lapthorn Financial Due Diligence: WK Corporate Finance
THE BUSINESS MAGAZINE – THAMES VALLEY – JULY/AUGUST 2014
Completion Date: 28/05/2014 Target: Phoenix Commercial Holdings Acquirer: Phoenix Commercial (Enforcement) Holdings Deal Value: £1.1 million plus consideration shares in acquirer
Details: The Phoenix Group are one of the leading providers of bailiff enforcement and debt recovery services in the UK. With a newly strengthened management team, the group are looking to capitalise on the legislative changes in the enforcement sector and take the business into the next growth phase
Corporate Finance Advisers: Phil Price of DSW
Legal Advisers: Nick Gent and Alice Biggar of Trethowans LLP for the acquirer
Financial Due Diligence: David Williams and Paul Gittins of Dendy Neville
Next Deadline
The next Deals Update will be in our September issue
Deadline for submissions is Monday August 11 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
www.businessmag.co.uk
Wilson Partners Corporate Finance is the specialist corporate finance advisory division of Wilson Partners, working with shareholders and entrepreneurial management teams of owner-managed businesses, usually with a turnover of £2 million to £100m.
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