32 deals update


Latest deals data from across the region Disposal of Foresight Partnership


Completion Date: 11/14 Target: Foresight Partnership Acquirer: GE Healthcare Deal Value: Undisclosed


Details: HMT LLP, led by partner Andrew Thomson, director Holly Bedford and senior manager Matthew Gordon-Smith, advised the shareholders of Foresight Partnership, one of the leading niche governance and organisational development consultancies in healthcare in the UK, on its disposal to GE Healthcare Finnamore


Corporate Finance Advisers: HMT Legal Advisers: Allan Janes Tax Advisers: HMT


Completion Date: 01/15 Target: BlisMedia Deal Value: Undisclosed


Details: Solent-based venture capital fund, Meridian Growth Capital LLP, further increased its shareholding in BlisMedia in a follow up to the most recent funding in October 2014. This is in response to unprecedented demand for the platform usage which has seen the company expand into Singapore and Australia in the past 12 months


Funding: Meridian Growth Capital Legal Advisers: Shoosmiths LLP


Investment in BlisMedia


Golden Acres Group sold to Wyevale Garden Centres


Leading Dorset commercial law firm Steele Raymond LLP has advised local family-run firm Golden Acres Group on its sale to Wyevale Garden Centres, a longstanding and well-established UK chain.


Acquisition of High Technology Sources Project Turin


Completion Date: 18/11/14 Target: Typhoon International


Acquirer: Safety and Survival Systems (backed by August Equity LLP)


Deal Value: Undisclosed


Details: Project Turin is Meridian’s second deal with August Equity in six months. Typhoon is the world’s largest manufacturer of dry-suits. Headquartered in Southampton, 3Si (a group including Ocean Safety and Revere Survival Inc) specialises in the worldwide supply, distribution, service and hire of marine safety equipment


Funding: August Equity


Corporate Finance Advisers: Joe Jeffers and Michael Barcia (Meridian Corporate Finance)


Legal Advisers: Sean Wright and Stephen Porter (Shoosmiths LLP)


Financial Due Diligence: Darren Phillips and Daniel Bond (BDO LLP) Corporate Due Diligence: Martin Bean and John Gibbons (CIL)


Refinancing of ICA Group


Completion Date: 12/14 Target: ICA Group Deal Value: Undisclosed


Project Winchester


Completion Date: 11/11/14 Target: Wessex Fertility


Acquirer: Academic Reproductive Partnership Group (ARP)


Deal Value: Undisclosed


Details: Meridian advised the shareholders of Wessex Fertility on the sale of their business to ARP, a private equity backed fertility services group. The transaction sees Wessex provided with support to continue its growth in the region while providing the ARP group with a presence in the Solent area


Funding: Repin BV


Corporate Finance Advisers: Darren Thompson and Philip Mettam (Meridian Corporate Finance)


Legal Advisers: Stephen Porter (Shoosmiths LLP) – vendor, Anna Brown (Pinsent Masons LLP) – acquirer Financial Due Diligence: KPMG LLP Tax Advisers: Cathy Revis and Dean Weale (Fiander Tovell LLP)


www.businessmag.co.uk Next Deadline


The next Deals Update will be in our March issue


Deadline for submissions is Wednesday February 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


Details: HMT LLP, led by partner Andrew Thomson, director Holly Bedford and senior manager Matthew Gordon-Smith, advised ICA Group, a leading document management and solution provider, on its refinancing and shareholder restructuring


Funding: RBS/NatWest Corporate Finance Advisers: HMT Legal Advisers: PDT Solicitors Tax Advisers: HMT


Target: High Technology Sources Acquirer: James Fisher Nuclear Holdings Deal Value: £2.25 million


Details: James Fisher Nuclear is an established supplier of specialist engineering, manufacturing and technical services for applications within challenging environments or with high integrity requirements and it acquired HTSL which is a supplier of radioactive sources and equipment for industrial, NDT and medical applications


Legal Advisers: Coffin Mew LLP acted for James Fisher Nuclear (Amanda Brockwell and Jennifer Packer), Penningtons Manches(David Tighe) in Oxford acted for the sellers of HTSL


Corporate Finance Advisers: SG Hambros EC Rabben and Partners –Peter Donald


Financial Due Diligence: Menzies


BCMS advises on sale of Rainbow Dust Colours


Rainbow Dust Colours, a leading European food manufacturer, has been acquired by Real Good Food plc for in excess of £7 million. Leading international M&A adviser BCMS, based in Hampshire, acted as lead sale adviser to the vendors.


The acquirer, Real Good Food plc is a diversified food group listed on AIM and trading as five distinct operating companies: Napier Brown, Garrett Ingredients, Renshaw, R&W Scott, and Haydens Bakery.


As part of its M&A advisory service BCMS profiled 184 organisations and engaged in early-stage discussions with 35 companies that expressed a serious interest in the acquisition. Following negotiations with five parties the vendors accepted the proposal from Real Good Food plc.


Paul Johnson, corporate solicitor at Irwin Mitchell, provided legal advice to the vendors.


THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – FEBRUARY 2015


The transaction completed in January with the acquired centres including John Brown’s Garden Centre and West Parley Garden Centre in Dorset, Landford Garden Centre in Salisbury and Cadnam Garden Centre in Hampshire.


Steele Raymond’s top-tier commercial team acted on behalf of the seller, owner Paul Richards. The transaction was led by corporate partner Nick Davies and commercial property partner Chris Twaits.


Davies commented: “The transaction involved a variety of complex corporate and commercial property aspects, which our leading team is well equipped to deal with. We have acted for Golden Acres Group and owner Paul Richards for a number of years and seen it grow into a highly successful chain of garden centres across the south.“


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