38 deals update Latest deals data from across the region Project Ronald – Redeem fundraising
Completion Date: 14/09/14 Target: Redeem Holdings Deal Value: £15 million
Details: HMT LLP, led by partner Andrew Thomson and associate director Peter Wear, advised Redeem Holdings, the leading international provider of mobile phone and electronics recycling and recommerce services, on its recent £15m fundraise
Funding: Connection Capital and Praesidian Capital Corporate Finance Advisers: HMT
Cogenta Systems
Completion Date: N/A Target: Cogenta Systems Acquirer: GfK SE Deal Value: Undisclosed
Details: Acquisition of Cogenta Systems by leading market research company GfK. James Cowper LLP provided financial due diligence services to the acquirer
Legal Advisers: Hogan Lovells International LLP Financial Due Diligence: James Cowper
Capita plc acquisition of Eclipse (Hardware)
Completion Date: 09/2014 Target: Eclipse (Hardware) Acquirer: Capita plc Deal Value: Undisclosed
Details: Baker Tilly provided financial due diligence on behalf of Capita plc and its acquisition of Eclipse (Hardware) – known as Eclipse Legal Systems – for an undisclosed sum. Eclipse provides case-management software and services to over 20,000 legal professionals in law firms, alternative business structures, claims departments and commercial organisations
Corporate Finance Advisers: John Jacobs, Marks Baughan Securities UK, LLP (sellside)
Legal Advisers: Acuity Legal
Financial Due Diligence: Baker Tilly: Peter Vandervelde, corporate finance partner, David Copley, corporate finance partner Commercial Due Diligence: Credo CDD
Wincanton plc
Completion Date: 24/06/2014 Deal Value: £50 million participation
Details: HSBC participation and joint lead arranger of £170m senior debt refinancing Legal Advisers: Eversheds
Trifast plc
Completion Date: 30/05/2014 Target: Viterie Italia Centrale Srl Acquirer: Trifast plc Deal Value: £30 million Sole Hold
Details: HSBC financed Trifast’s acquisition of Viterie Italia Centrale Srl (VIC) providing a €25m term loan and £10m RCF Funding: Sovereign Capital and Barclays Bank Legal Advisers: Eversheds
www.businessmag.co.uk Acquisition of James H Heal & Company
Completion Date: 22/09/2014 Target: James H Heal & Company Acquirer: Battery Ventures Deal Value: Undisclosed
Details: Baker Tilly provided financial due diligence on behalf of Boston-based Battery Ventures on its acquisition of James H Heal & Company, a global leader in the design and manufacture of test instrumentation and test materials for the textile and garment industry
Funding: Battery Ventures Legal Advisers: Edwards Wildman Palmer (Boston/London)
Financial Due Diligence: Baker Tilly: David Copley, corporate finance partner, Michelle Harris, tax partner, James Harris, executive, Rebecca Matthews, tax manager, Loretta Housego, tax associate, Ben Binks, executive
Completion Date: 18/08/2014 Deal Value: £55 million participation
Details: HSBC participation and joint lead arranger of £145m senior debt refinancing Funding: HSBC Legal Advisers: Eversheds
Investment in Watchfinder
Completion Date: 09/14 Target:
Watchfinder.co.uk Deal Value: £6.4 million
Details: HMT LLP, led by director Paul Read and manager Adrian Howells advised Beringea LLP and Piton Capital LLP on their £6.4m investment in UK leading pre-owned online watch retailer
Watchfinder.co.uk
Funding: Beringea and Piton Capital Legal Advisers: Brachers Financial Due Diligence: HMT
Completion Date: 01/10/2014 Target: MedicX Holdings Acquirer: Octopus Capital Healthcare Bidco Deal Value: Undisclosed
Details: Baker Tilly supported Octopus Capital’s business expansion by providing accounting transaction support on its acquisition of MedicX Holdings, a multi-fund investor in and developer of primary care infrastructure across the UK with total funds under management of c£900 million
Funding: RBS financial institutions
Corporate Finance Advisers: The transaction was led by the in-house team at Octopus Capital. Sell side corporate finance by Raj Mehta, KPMG Corporate Finance
Legal Advisers: CMS Cameron McKenna LLP: Martin Treagus, partner and Peter Crichton, partner
Transaction Support: Baker Tilly: David McCulloch, corporate finance partner, Gemma Legg, corporate finance associate. EY: Michael Hall, managing partner, Belfast (tax), Neville Crowe, director (tax)
Big Yellow Group plc
Acquisition of Maygray Graphics Acquisition of MedicX Group
Completion Date: 03/09/14 Target: Maygray Graphics Acquirer: Vario Press Deal Value: Undisclosed
Details: Maygray Graphics, a Slough-based provider of high-quality digital and lithographic print solutions and design services to a diverse range of blue-chip clients, has sold to Vario Press, in a transaction managed by international M&A adviser BCMS. The transaction was led by BCMS deal leader John Humphrey, who advised the vendors
Corporate Finance Advisers: BCMS Legal Advisers: Stuart Hodge Corporate Law
Willows Veterinary Centre and Referral Service
Completion Date: 16/09/2014 Target: Willows Veterinary Centre and Referral Service Acquirer: Sovereign Capital Deal Value: Undisclosed
Details: Spectrum Corporate Finance acted as both lead adviser and debt adviser to Sovereign Capital on its investment in Willows Veterinary Centre and Referral Service
Funding: Sovereign Capital and Barclays Bank Corporate Finance Advisers: Spectrum
Legal Advisers: Pinsent Masons (Newco and Sovereign), Osborne Clark (Management) Financial Due Diligence: Hazlewoods Commercial Due Diligence: Mansfield Partners
Acquisition of Small World Creations
Completion Date: 07/10/14 Target: Small World Creations Acquirer: Quarto Publishing plc Deal Value: Undisclosed
Details: Penningtons Manches acted for Quarto Publishing, a leading global illustrated book publisher and distribution group, on its purchase of Small World Creations. Small World is a creator and publisher of novelty children’s books for the 0-5 year range and Quarto sees the acquisition as a valuable addition to its children’s business
Legal Advisers: Penningtons Manches, led by corporate partner David Tighe and corporate associate Dominique Sabatini, advised Quarto Publishing
Selwood
Completion Date: 15/09/2014 Deal Value: £55 million
Details: HSBC won new switcher as part of company refinancing process. Sole Hold in £10m RCF, £15m term loan and £30m HEF facility
Corporate Finance Advisers: PwC Legal Advisers: CMS Cameron McKenna LLP
Next Deadline
The next Deals Update will be in our December/January issue
Deadline for submissions is Monday November 10 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 – NOVEMBER 2014
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