26 deals update Latest deals data from across the region


Acquisition of True Lens Services by Procam TV


Completion Date: 12/14 Target: True Lens Services Acquirer: Procam TV Deal Value: Undisclosed


Details: HMT LLP, led by director Paul Read, undertook due diligence for private-equity-backed television equipment specialist Procam TV on its acquisition of British broadcast and cinematic lens innovator True Lens Services


Funding: Foresight Group Corporate Finance Advisers: Marsden Clark Legal Advisers: Marriott Harrison Tax Advisers: HMT


Altitude Partners invests in Chameleon


Altitude Partners LLP (Altitude), the investment fund based in Hampshire, has provided £500,000 of development capital to Chameleon (Chameleon Worldwide Travel), one of the UK’s fastest-growing travel businesses.


Based near Alresford, Hampshire, Chameleon is run by serial travel entrepreneur Mark Wright and employs 27 people. Chameleon is an adventure tour operator and owns five individual brands: Adventure Worldwide, Families Worldwide, Schools Worldwide, Walks Worldwide and Chameleon Tailor-Made. The company is mainly direct-sell, offering its holidays through five dedicated websites, brochures and by phone.


Capita’s €210m acquisition of avocis


Completion Date: 27/02/15 Target: avocis Acquirer: Capita plc Deal Value: €210 million


Details: Baker Tilly provided financial due diligence for Capita plc on its acquisition of avocis, a leading provider of customer contact management services in Germany, Switzerland and Austria, for a sum of €210m. Avocis serves similar sectors to Capita’s UK-based customer management business, and will add strength to the relationship through its strong position in the German-speaking regions of Europe


Legal Advisers: Addleshaw Goddard, buyside legal


Financial Due Diligence: Baker Tilly: Peter Vandervelde, partner; Philip Rossiter, associate director; Andy Choy, associate


International Involvement: RSM Switzerland and RSM Germany


Chameleon has grown significantly over the past few years and the number of travellers wanting more interesting, active and educational holidays is one of the key growth drivers within the holiday industry.


The funding from Altitude will be used to provide support for growth through additional staffing, expanded office space, further development of IT systems and providing a strong capital base as the business follows its growth plans over the coming years.


Mark Wright, managing director of Chameleon, commented: “Our client base and


product offerings have expanded rapidly over recent years. Backing from Altitude allows us to grow our systems and marketing further as we continue to deliver exciting and rewarding holiday experiences to specialist niches. There is an increasingly-high level of demand for ’soft adventure’ holidays.“


Simon White of Altitude commented: “Chameleon is the type of business we like to work with – established and experienced with a strong management team, a product that is right for the market and a keen ambition to expand. Mark and his team understand their market exceptionally well and have the necessary experience and drive to grow their market share.“


Stewart Lambert of James Cowper Kreston originated the transaction and advised Chameleon, while Pitmans (Sean Kelly and Sarah Lake) provided legal advice.


Altitude Partners was advised by Clarke Willmott (Robert Ridd). HWCF (Richard Hall and David Wrench) provided financial due diligence.


Altitude Partners invests up to £3 million in companies requiring development capital for organic growth, growth through acquisition or to support existing management teams and undertake management buyouts.


Project Kennilworth


Completion Date: 27/02/15 Target: Keylogic Acquirer: Castleton Technology plc Deal Value: £3.8 million


Details: Castleton, the software and managed services provider to the public and not for profit sector, acquired Keylogic, an infrastructure managed services provider with a focus on the social housing sector.. The business comes with a strong reputation in its market and a track record of profitable growth


Legal Advisers: Coffin Mew LLP for sellers. DAC Beachcroft LLP for buyer


Financial Due Diligence: Baker Tilly BCMS launches in Middle East Next Deadline The next Deals Update will be in our May issue


Deadline for submissions is Tuesday April 14 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


www.businessmag.co.uk


As part of its ongoing international growth strategy, Kingsclere-based M&A adviser BCMS has launched in the Middle East, hosting its first-ever seminar in Tel Aviv, Israel.


The seminar, presented by David Rebbettes, founding director, and Mike Sweeting, director of international development, was well received with over 200 SME business owners in attendance.


Ahead of the February 24 launch event, Rebbettes had visited Israel on a number


of occasions during 2014, working closely with local colleagues Doron Ephrati and Hilit Ben-Zvi, who are joint heads of the BCMS operation. BCMS will operate from an office in the Vita Towers complex in Tel Aviv’s business district.


Rebbettes commented: “The Middle East is an attractive market for deal makers – I continue to be delighted by the positive response BCMS has received ever since announcing the first seminar date here in Israel.“


THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – APRIL 2015


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