28 deals update
Latest deals data from across the region Disposal of The Green Board Game Company
Completion Date: 03/15
Target: The Green Board Game Company
Acquirer: Searainbow Deal Value: Undisclosed
Details: HMT LLP, led by tax director Holly Bedford advised the shareholders of High Wycombe-based The Green Board Game Company on its disposal to Searainbow Group
Funding: Undisclosed Tax Advisers: HMT Legal Advisers: Blake Morgan
Sale of Hermes Datacommunications
Completion Date: 25/03/15 Target: Hermes Datacommunications International Acquirer: SpeedCast International Deal Value: Undisclosed
Details: The sale of UK-based Hermes Datacommunications, a global provider of managed network services for the upstream oil and gas industry in 54 countries, to global satellite communications service provider SpeedCast International, significantly strengthens the combined entity’s capabilities to service their customers in the primary energy markets around the world
Legal Advisers: Penningtons Manches LLP Towergate Financial
Completion Date: 03/15 Target: Towergate Financial Acquirer: Palatine Private Equity Deal Value: Undisclosed
Details: Spectrum Corporate Finance has successfully helped complete the combined management buyout of John Charcol and Towergate Financial (rebranded as Wren Sterling), providing management buy-side advice
Funding: Palatine Private Equity
Corporate Finance Advisers: Management - Spectrum – Simon Davies and Clive Hatchard, Palatine – Catalyst Corporate Finance
Legal Advisers: Management – Pitmans (Sean Kelly), Palatine/ newco – Gateley’s (Mark Halliwell)
Investment in D30 by Beringea Capita’s acquisition of Sigma Seven
Completion Date: 13/03/15 Target: Sigma Seven Acquirer: Capita plc Deal Value: Undisclosed
Details: Baker Tilly provided financial due diligence for Capita on its acquisition of Sigma Seven who provide a specialist geospatial solution enabling users to access company files, organise work and record data directly onto high-quality digital maps. The acquisition will provide additional depth to the range of solutions that Capita currently offers to its Utilities customers
Legal Advisers: DWF LLP, Glasgow
Financial Due Diligence: Baker Tilly: David Copley, partner; Peter Vandervelde, partner
www.businessmag.co.uk
Completion Date: 04/15 Target: D30 Investors: Beringea LLP Deal Value: $19 million
Details: HMT LLP led by partner Paul Read and manager Adrian Howells undertook due diligence for private-equity firm Beringea on its $13 million investment in developer of smart materials D3O
Funding: Beringea and Entrepreneurs Fund Legal Advisers: Keystone Law Corporate Finance Advisers: PwC Financial Due Diligence: HMT
Sale of Framptons Transport Services
Completion Date: 08/04/15 Target: Framptons Transport Services Acquirer: Gregory Distribution (Holdings) Deal Value: Undisclosed
Details: Baker Tilly advised the shareholders of Framptons Transport Services on its sale to leading south west distribution company, Gregory Distribution (Holdings). The acquisition of the £17 million turnover business further expands Gregory Distribution’s activities within the west country and positions the business for future expansion. Framptons will continue to operate as a stand-alone business unit within the Gregory Group
Corporate Finance Advisers: Baker Tilly: Ian Wherry, partner; Stephanie Wilson, associate
Legal Advisers: Stuart Mathews, Ashfords LLP Project Octans Completion Date: 01/04/15
Target: Seward Accident Repair Centres (Seward) and Value Crash Repairs (VCR) Acquirer: Nationwide Accident Repair Services plc (NARS) Deal Value: £3.8 million
Details: BDO Corporate Finance worked collaboratively with audit and tax teams to provide a full-service offering to the shareholders of Seward and VCR on their multi-sale transaction to NARS. Seward, together with VCR, is the 10th largest independent automotive crash repair services in the UK and operates eight bodyshops across the South Coast together with mobile vehicle repair services to retail customers, insurance and fleet companies. VCR provides automotive repair services to predominately private, individual customers
Corporate Finance Advisers: BDO Southampton, led by Ben Knowles
Legal Advisers: Paris Smith LLP, led by Jonathon Roy, for the sellers and K&L Gates LLP for the buyers
Financial Due Diligence: Grant Thornton Tax Advisers: BDO Southampton (Paul Braye and Lisa Justice)
Other Advisers: BDO Southampton, Business Assurance (Steve Le Bas)
The Tintometer acquires
droptestkits.com
Completion Date: 12/03/15 Target:
droptestkits.com T/A DTK Water Acquirer: The Tintometer Deal Value: Undisclosed
Details: Baker Tilly provided financial due diligence for The Tintometer on its acquisition of
droptestkits.com T/A DTK, a leading supplier of water test kits for industrial water treatment. This acquisition reflects the company’s long-term commitment to the expansion and improvement of its core areas of water and colour analysis
Legal Advisers: Blake Morgan
Financial Due Diligence: Baker Tilly: Nick Williams, partner; Michelle Harris, tax partner
Next Deadline The next Deals Update will be in our June issue
Deadline for submissions is Thursday May 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
THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – MAY 2015
Completion Date: 03/15 Target: Clearwater Group plc Acquirer: Baird Capital
Deal Value: £34 million of total funds raised to support the acquisition of Clearwater and future growth
Details: Spectrum Corporate Finance advised the shareholders on the successful disposal of Clearwater Group to Baird Capital. Spectrum acted as both lead adviser and debt adviser to management and Baird Capital
Funding: Baird Capital and RBS
Corporate Finance Advisers: Spectrum – Simon Davies, Ian Milne and James Mines
Legal Advisers: Vendor/management – Shoosmiths, Baird/ newco – Eversheds, RBS – Osborne Clarke Financial Due Diligence: PwC, Reading Commercial Due Diligence: CIL
Acquisition of HotCam NY by Procam
Completion Date: 03/15 Target: HotCam NY Acquirer: Procam Deal Value: Undisclosed
Details: HMT LLP led by partner Paul Read undertook due diligence for private-equity-backed television equipment specialist Procam Television on its acquisition of US-based camera rental company HotCam New-York
Funding: Foresight Group and NatWest Legal Advisers: Marriott Harrison Corporate Finance Advisers: Marsden Clark Financial Due Diligence: HMT
Clearwater Group plc
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