DEAL (OVER £25M) OF THE YEAR
Sponsored by:
Winner: Selwood Group And finally, the time came for the evening‘s last award.
Compere Matt Forde invited everyone to put the nominees under a peer group professional spotlight and gauge the most deserving deal-completing team of talented individuals and proven professionals involved in the selected major Solent transactions.
Once again it was time for keypad voting to provide the digital decision-making that in 10 seconds would transport a smiling recipient to the stage.
The five nominees for the over £25 million deal value category were:
• Bargate Homes
Growth capital funding involving private equity investment from Prowting Investments and debt facilities by RBS, in a deal led by Spectrum.
Key involvements in the deal came from: Prowting Investments, RBS, Spectrum Corporate Finance, Coffin Mew, Shoosmiths, Osborne Clarke, Baker Tilly
• Dyer & Butler
The management team of Southampton-based Dyer & Butler completed an MBO using a £10m funding package from RBS/ NatWest, positioning the business for the next stage of development and providing succession planning.
Key involvements in the deal came from: RBS/NatWest, KPMG, Shoosmiths, Burgess Salmon
• Kondor
Christchurch-based Kondor was sold to HIG Capital in a complex MBO transaction involving share sale, management rollover, senior and working capital facilities, and a significant property element.
Key involvements in the deal came from: HIG Capital, RBS, Pricoa Capital Group, Deloitte, Shoosmiths, PwC, DLA Piper
• Matchtech
HSBC acted as sole lender for Matchtech‘s acquisition of Networkers International for a total consideration of £59.7m.
Key involvements in the deal came from: HSBC, Mazars
www.businessmag.co.uk THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JULY/AUGUST 2015 • Selwood Group
HSBC supported Selwood Group, based at Chandlers Ford, on its acquisition of the pump-hire assets of a major competitor and provided funds for future growth.
Key involvements in the deal came from: HSBC, PwC, CMS Cameron McKenna
To a fanfare the stage screens revealed the majority audience vote had gone to the professionals involved in the Selwood deal.
Martyn Begbour (third left), executive director of UBS Wealth Management, once again had the pleasant task of congratulating the winner and presenting the Deals Awards trophy.
Chris Garrett (second left), CEO of Selwood Group, already acknowledged as 2015 Management Team of the Year, afterwards praised the work of his fellow dealmakers, and explained: “This was the biggest and most complex deal I have been involved in, with all its shareholder, stakeholder, management needs, the legal and banking requirements. There were a lot of parts to balance, it was not a simple refinancing, there were a lot of different needs, with family trusts in the background, for instance. The transaction complexity was what made it challenging.“
Garrett who joined the Selwood company “more than half my life ago“ was appointed to the board in 1999 and became CEO in 2007. An MB0 in 1994 began the start of a newer-style Selwood, he explained, and the company had adapted and grown successfully ever since.
The recent, now award-winning, deal would enable his management team to progress with their business plans and continue to enable the company to control its own destiny.
Of the Solent Deals Awards, Garrett added: “We actively get involved with such awards because to have recognition is always great. It gives us presence in the market place, among advisers, clients and other businesses, and validation for what we do.“
Then, with wishes from the organisers for a safe trip home, the 2015 Solent Deals Awards were over.
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