46 deals HMT lead on EPI buyout
HMT LLP, led by partner Ian Barton and supported by manager Julia Carruthers, led the advice on the management buyout of leading seismic consultancy firm, The EPI Group
EPI is a leader in consultancy services to the energy industry, covering a broad range of technical disciplines including specialist knowledge of seismic quality control. The EPI Group, which is headquartered in Cobham, Surrey and has offices in Houston (US) and the Middle East, provides services across the globe to the world’s leading energy businesses including BP, Shell, ExxonMobil, Statoil and Total.
With the funding support from Palatine Private Equity and RBS, EPI’s management team, led by CEO Edward Bowen and CFO Richard Bradley, intends to grow organically via further geographical expansion and increased diversification of the services it provides. EPI also plans to embark on a buy and build strategy as it looks to strengthen its portfolio of clients and services over the next few years.
Barton and Bradley were formerly colleagues at Deloitte and together had previously worked with Tony Dickin at Palatine on the MBO, refinancing, bolt-on acquisition and subsequent sale of XLN Telecom.
which will enable us to grow the business internationally. I am particularly grateful to Ian for his exceptional support, unwavering loyalty and uncompromising dedication to his clients. Without Ian’s support, this deal would not have been done.“
Bradley joined EPI in 2013, having previously advised the company on a bolt-on acquisition, and the MBO represents the culmination of a business that has successfully transitioned from its previous family ownership to one primed for both organic and acquisitive expansion.
Barton, who was voted ‘Corporate Finance Adviser of the Year’ at the 2014 Thames Valley Deals Awards, led the advice to the purchaser and this deal represents the second major oil and gas services transaction led by Barton and HMT in the past 9 months
following the £100 million- plus sale of Swift Worldwide to Wellspring in 2013.
Since the start of 2013, HMT has further consolidated it's position as a leading adviser to entrepreneurial businesses in the Thames Valley, advising on over 25 deals with an aggregate value in excess of £400m, including TNT Post UK, Swift, Property Services Group, Redeem Holdings and Virgin Wines.
Edward Bowen, CEO at The EPI Group said: “We are delighted to have entered a partnership with Palatine
Leumi ABL completes deal with £25m-turnover steel importer
Leumi ABL has supported steel importer Kierbeck Thames with a £6.5 million asset-based lending facility to assist further growth.
The firm provided the £6.5m with an 85% advance, and is looking at a trade finance facility post commencement. Kierbeck also has a trade finance facility in place with Trade Finance Partners.
As a volume-driven business, Kierbeck needed to increase turnover to generate profits, and the facility it had in
www.businessmag.co.uk
place with its previous provider was restrictive, hampering its growth. Leumi ABL fought off competition to win the client back, and was able to offer invoice discounting with bad debt protection at the same price as their previous provider charged without this protection.
Brendon O’Connell, managing director at Kierbeck, commented on why Leumi ABL stood out: “Leumi was clearly keen to do business with us and, as we had been a client of theirs before, we knew they would be able to deliver. The
CEO of Leumi ABL met with us, and understood our business, and understood that a working capital facility that allowed us to grow would give us the critical mass to compete profitably. We are now looking to grow from £25m turnover to £40m in the next 12 months. Leumi offered us an invoice discounting facility with bad debt protection, which was far cheaper than invoice discounting and credit insurance separately.”
Commenting on the deal,
Jonathan Hughes, regional sales director at Leumi ABL, said: “Kierbeck knew us already and we had maintained a good relationship. Our CEO Paul Hird had kept in touch with Brendon for some years and when Kierbeck required a more flexible and less-restrictive facility, we knew we were well placed to assist and win the client back. We all look forward to continuing to build our relationship with this successful business.”
Details:
www.leumiabl.co.uk THE BUSINESS MAGAZINE – THAMES VALLEY – JULY/AUGUST 2014
Details: Ian Barton 01491-579740
ibarton@hmtllp.com www.hmtllp.com
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 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56