deals update 43 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)


MicroEnsure


Completion Date: 30/05/2014 Target: MicroEnsure Holdings Deal Value: $10.4 million development capital transaction


Details: Completion of Series B fundraising for Cheltenham- based microinsurance company MicroEnsure (JCCF also advised on Series A fundraising). The transaction required excellent project management due to its complexity and the need to communicate across various time zones and countries – UK, US (E and W coast), Norway, South Africa, France


Funding: Sanlam Emerging Markets, AXA, Telenor, Omidyar Network, IFC


Corporate Finance Advisers: James Cowper Corporate Finance LLP


Legal Advisers: MicroEnsure – Dorsey & Whitney, London Project Fero 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


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


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)


THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JULY/AUGUST 2014


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


Completion Date: 01/05/2014 Target: Bytes Document Solutions Acquirer: Hitachi Consulting UK Deal Value: Undisclosed


Details: Xeretec Group Holdings acquired Bytes Document Solutions. Sara Valentine of Osborne Clarke acted for Xeretec and HSBC provided the funding in connection with the acquisition


Funding: HSBC Legal Advisers: Osborne Clarke (Sara Valentine) Financial Due Diligence: Shaw Gibbs


MBO of Vista Retail Support Holdings


Completion Date: 05/2014 Target: Vista Retail Support Holdings Deal Value: £12.3 million


Details: Grant Thornton UK LLP’s Thames Valley transaction advisory services team provided financial and tax due diligence in respect of the acquisition of the WestBridge Capital LLP backed MBO of Vista Retail Support Holdings. Vista is an IT infrastructure support service provider, focusing on EPoS systems within the retail, leisure and hospitality sectors


Funding: WestBridge Capital Corporate Finance Advisers: PwC LLP (vendors)


Legal Advisers: Morgan Cole (vendors), Capital Law LLP (WestBridge Capital) Financial Due Diligence: Grant Thornton UK (led by Bob Alsop)


Project Yoda


Altitude backs James Tobias MBO


Altitude Partners, the regional investment fund based in Hampshire, has supported the management buyout (MBO) of James Tobias, the UK’s leading provider of premium storage wall solutions for offices. Debt support came from NatWest Structured Finance. Francis Clark originated the transaction and provided support and advice to the management team through the transaction.


James Tobias has developed a market- leading position in the design, supply and fitting of premium storage wall systems, engineered to maximize the efficient use of floor space in commercial offices, showrooms and schools. The product uses a unique system to construct dividing walls which are also cupboards and, by combining partitioning and storage, it can save up to 50% of floor space over conventional products.


The funding has allowed the management team of Phillip Jones, David McLaren and Jon Dibble to acquire the business from its retiring owner.


Altitude Partners was advised by Clarke Willmott, and the management team was advised by Francis Clark and Foot Anstey. Isca Ventures provided financial due diligence, and The Innovation Partnership provided commercial due diligence.


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


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


Moore Blatch advises on Bytes Documents sale


Law firm Moore Blatch has successfully advised Bytes Documents in respect of its sale to Xeretec.


Bytes Documents Solutions is the Xerox reseller division of the Bytes Technology Group, a nationwide provider of software and licensing services with UK revenues of £150 million.


Established in 1991 and with an annual turnover of £30m, Xeretec is Xerox’s largest managed print service partner in the UK, one of Europe’s Top 5 resellers and a leading integrator of digital print hardware and software solutions.


Moore Blatch has had an ongoing relationship with Bytes Technology Group for nearly 20 years, in areas such as acquisitions, relocations, restructurings and this recent disposal.


www.businessmag.co.uk


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