34 deals update Latest deals data from across the region
Aurum Holdings acquires Watch Shop
Completion Date: 08/2014 Target: Watch Shop Acquirer: Aurum Holdings Deal Value: Undisclosed
Details: Baker Tilly’s transaction services team successfully completed vendor due diligence in respect of the disposal of 100% share capital of Watch Shop to luxury jewellery retailer Aurum Holdings
Corporate Finance Advisers: Ardent Legal Advisers: Shoosmiths
Financial Due Diligence: Baker Tilly: Rebecca Guerin, partner; James Killing, corporate finance director; Andrew Choy, corporate finance executive; Alison Sapsford, tax partner; David Collis, associate director
Acquisition of Cooper Callas
Completion Date: 08/08/14 Target: Cooper Callas Acquirer: Coopers Distribution Deal Value: Undisclosed
Details: Acquisition of Bicester-based leading bathroom distributor, Cooper Callas, by Coopers Distribution. Cooper Callas has been supported by Leumi ABL with an £8.5 million ABL facility, including invoice discounting, stock finance, loan and trade finance. The deal was introduced by HMT LLP who negotiated the acquisition terms, raised funding and provided corporate finance and tax advice to the management buyin team of Coopers Distribution, led by Philip Carr, now MD at Cooper Callas. The funding will help improve working capital and support the acquisition. James Cowper LLP provided financial due diligence services to Coopers Distribution and Percipient Capital.
Funding: Percipient Capital, Leumi ABL (£8.5m ABL facility includes Invoice Discounting, Stock, Loan and Trade finance) and Santander
Corporate Finance Advisers: HMT advised management and BCMS acted for the vendors. Percipient Capital invested alongside management
Legal Advisers: Shoosmiths acted for LABL, Clarke Willmott for management, Stuart Hodge for the vendors, and DMH Stallard for Percipient
Financial Due Diligence: James Cowper
Commercial Due Diligence: Edward Symmons did the valuations
Allegion sale of its UK doors businesses
Completion Date: 01/09/14 Target: UK doors businesses of Allegion plc
Acquirer: High Performance Doors, an affiliate of Alcyon Financial Deal Value: Undisclosed
Details: The industrial products and services team at Transcend Corporate, led by Ian Aldridge, has advised Allegion on the sale of its UK doors businesses, comprising Dor-O-Matic and Martin Roberts, to High Performance Doors, an affiliate of Alcyon Financial. Transcend Corporate originated the deal by introducing Alcyon to Allegion
Funding: Trade Corporate Finance Advisers: Transcend Corporate
Legal Advisers: Brabners LLP for Allegion; Gunnercooke LLP for High Performance Doors Financial Due Diligence: Alcyon Financial Commercial Due Diligence: Alcyon Financial
www.businessmag.co.uk
Completion Date: 26/08/2014 Target: Saba Hotels Acquirer: Agate Properties Deal Value: Undisclosed
Details: Acquisition of London-based Saba Hotels by Agate Properties. James Cowper LLP provided financial due diligence services and helped to negotiate the SPA for the acquirer
Legal Advisers: Sheridan & Stretton Solicitors and Harold Benjamin
Financial Due Diligence: James Cowper Project Hutton
Completion Date: N/A Target: Neftex Petroleum Consultants Acquirer: Halliburton Deal Value: Undisclosed
Details: Disposal of Neftex Petroleum Consultants – a geoscience solutions and consultancy company Corporate Finance Advisers: James Cowper LLP, PwC LLP Legal Advisers: Field Seymour Parkes LLP Financial Due Diligence: EY
Acquisition of Nafi by Acturis Group
Completion Date: 29/08/2014 Target: Nafi, Germany Acquirer: Acturis Group Deal Value: Undisclosed
Details: Baker Tilly provided financial due diligence for Acturis Group on its acquisition of motor insurance software group Nafi of Germany
Legal Advisers: DLA Piper
Financial Due Diligence: Baker Tilly: David Copley, corporate finance partner; Jon da Costa, partner. RSM Germany: Nils- Christian Wendlandt and Christian Knoeller
Investment in DFx Technology
Completion Date: 08/14 Target: DFx Technology Deal Value: £1.2 million
Details: HMT LLP, led by partner Andrew Thomson, director Paul Read and senior manager Ed Sutcliffe, advised Percipient Capital on their £1.2m investment in DFx Technology
Funding: Percipient Capital Corporate Finance Advisers: HMT Financial Due Diligence: HMT
Meercat Workboats
Completion Date: 15/08/14 Target: Meercat Workboats Acquirer: Burgess Marine Deal Value: Undisclosed
Details: Simon Davies and Sean Kelly advised the sellers on the sale of the entire issued share capital of Meercat Workboats, the Hampshire-based multi-purpose boat building company, to Burgess Marine, the Kent-based specialised marine engineering company
Corporate Finance Advisers: Simon Davies of Spectrum Corporate Finance
Tax Advisers: Sean Kelly, Oliver Kelly, Abi Dowling and Rebecca Chafer of Pitmans advised the sellers. Brachers acted for Burgess Marine
MBO of Clifford Thames Group
Completion Date: 31/08/2014 Target: Arrow Media, Lightbox, Popkorn and True North Acquirer: N/A Deal Value: £50 million
Details: Baker Tilly provided financial due diligence for an LDC backed MBO of Clifford Thames Group Funding: LDC Other Advisers: KPMG Legal Advisers: Osborne Clark
Financial Due Diligence: Baker Tilly: Peter Vandervelde, partner and national head of due diligence; Philip Rossiter, associate director, corporate finance; Alex Milne, corporate finance manager
Commercial Due Diligence: Roland Berger Acquisition of Universal Carbon Fibres
Completion Date: 11/08/2014 Target: Universal Carbon Fibres Acquirer: Tex Tech Industries Inc Deal Value: Undisclosed
Details: Baker Tilly provided financial due diligence on behalf of Tex Tech Industries Inc, a portfolio company of Shoreview Industries, on its acquisition of technical textile manufacturer Universal Carbon Fibres
Financial Due Diligence: Baker Tilly: David Copley, corporate finance partner; Farhan Jaffer, associate, corporate finance. Alex Weiss, McGladrey, New York and Kartik Sundar Raj, McGladrey, San Francisco
Next Deadline
The next Deals Update will be in our November issue
Deadline for submissions is Monday October 13 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 – THAMES VALLEY – OCTOBER 2014 Agate Properties
Disposal of The History Press Inc
Completion Date: 08/14 Target: The History Press Inc Acquirer: Arcadia Publishing Deal Value: Undisclosed
Details: HMT LLP, led by partners Mark Lucas and Andrew Thomson and director Holly Bedford, advised private equity backed The History Press on the disposal of its US subsidiary The History Press Inc to American publisher Arcadia Publishing
Corporate Finance Advisers: HMT Tax Advisers: HMT
Channel 4 Growth Fund invests
Completion Date: 21/08/2014 Target: Arrow Media, Lightbox, Popkorn and True North Acquirer: N/A Deal Value: Undisclosed
Details: Baker Tilly supported the Channel 4 Growth Fund by providing financial and tax due diligence for its minority investments in Arrow Media, Lightbox, Popkorn and True North
Funding: Channel 4 Growth Fund Legal Advisers: Reed Smith
Financial Due Diligence: Baker Tilly: Rebecca Guerin, partner; Katie Worsfold, corporate finance director; Chris Rees, corporate finance director; David Clark, partner, media & technology
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