mergers & acquisitions 51
HMT advises on investment in Channel Mum by ITV
HMT LLP led by partner Andrew Thomson and manager Julia Carruthers advised Channel Mum, the UK’s first parenting YouTube community on its recent fundraising. Giant broadcaster ITV acquired a minority stake in the business
Siobhan Freegard, the founder and managing director of Channel Mum, is a highly successful entrepreneur who founded in 2000 the UK’s biggest parenting website Netmums. In 2011, HMT advised Freegard and the other shareholders of Netmums on the disposal of the business to the number one publisher of women websites worldwide, Aufeminin.
Freegard created Channel Mum after leaving Netmums in 2014 by gathering together a group of 10 well-known vloggers to share their experiences of motherhood. Channel Mum has around 2,000 subscribers and has generated over 375,000 views since then.
Channel Mum’s aim is to build on the popularity of online parenting communities with the launch of a trendy video-based proposition. The
Completion Date: 22/06/15 Target: Premium Timber Products Acquirer: Meyer Timber Group Deal Value: Undisclosed
Details: Baker Tilly’s M&A and private equity team completed the sale of Premium Timber Products to Meyer Timber Group. Premium is one of the UK’s leading suppliers of joinery products to the DIY retail sector. Meyer Timber is a leading UK distributor of wood-based products
Corporate Finance Advisers: Baker Tilly: Ian Wherry, partner; Clodagh Muggeridge, associate director; Gemma Legg, associate
Legal Advisers: Ashfords LLP Project Luna Completion Date: 07/15
Target: Sale of specific satellite news gathering (SNG) assets of Arqiva Acquirer: SCCI Links Broadcast Deal Value: Undisclosed
Details: Strategic disposal of vehicle fleet and assets of the SNG division of Arqiva. Arqiva provides television and radio transmission, distribution and media management for the world’s leading broadcasters. The disposed vehicles and assets provide satellite uplink capability for events ranging from live theatre production through to global sporting tournaments
Funding: From own resources Corporate Finance Advisers: Spectrum Corporate Finance Legal Advisers: Internal, Pinsent Masons, Trethowans Financial Due Diligence: Internally performed Commercial Due Diligence: Internally performed
THE BUSINESS MAGAZINE – THAMES VALLEY – SEPTEMBER 2015
Completion Date: 06/15 Target: First Choice Business Systems Acquirer: Xeretec Deal Value: Undisclosed
Details: Shaw Gibbs provided further support for Xeretec to purchase the Kent-based print and document management solutions provider First Choice Business Systems, playing a major role in the due diligence and provided ongoing advice in respect of the transaction. This is the second transaction which Shaw Gibbs has advised on
Corporate Finance Advisers: Shaw Gibbs Legal Advisers: Osbourne Clarke
UK’s first mums YouTube community has struck sponsorship and branded content deals with Pampers, along with a Panasonic deal designed to help get mothers to start vlogging.
ITV’s investment in Channel Mum is a strategic marketing move as the giant broadcaster wants to enter the online advertising market. ITV has previously invested in digital video businesses including Believe Entertainment, Indigenous Media and Zealot Networks.
HMT, led by partner Andrew Thomson and manager Julia Carruthers, provided corporate finance advise to Channel Mum on this transaction.
Freegard was delighted with ITV’s investment. “With the deal now in place, I am now very excited
Sale of 100% shares of Premium Timber Products
Completion Date: 27/07/15 Target: BOFA International Deal Value: £23 million
Details: HMT LLP led by partners Mark Lucas and Ian Barton and director Peter Wear advised on the management buyout of BOFA International which was backed by LDC and The Royal Bank of Scotland
Funding: LDC Private Equity, The Royal Bank of Scotland Corporate Finance Advisers: HMT
Legal Advisers: Shoosmiths, Steele Raymond and Blake Morgan Financial Due Diligence: Baker Tilly Commercial Due Diligence: CIL
Project Skywalker
about getting on with the job I have committed to do, rising to the challenge of the fast-developing video market and growing the new business,” Freegard said. Commenting on HMT’s performance in dealmaking, the successful entrepreneur explained: “HMT are both adept and agile at spotting the possibilities in emerging sectors and helping both sides structure a mutually beneficial business model. I knew the tie-up with ITV was a great potential partnership and HMT have been invaluable in managing the process.”
Thomson who has advised Freegard in the past and in particular on the disposal of Netmums, commented: “We are delighted to have advised Siobhan on her new venture after Netmums. With Siobhan and her
MBO of BOFA International
Completion Date: 05/06/15 Target: TPI for Packaging Acquirer: David Peters Deal Value: Undisclosed
Details: Shaw Gibbs, led by corporate finance manager Paul Wilson approached a number of businesses on David Peter’s behalf to acquire new packaging business TPI for Packaging, a Stoke on Trent firm who supply polythene and packaging products. Shaw Gibbs will be providing ongoing compliance work for TPI
Funding: RBS Invoice Finance Corporate Finance Advisers: Shaw Gibbs Legal Advisers: Tollers LLP
Acquisition of UYT from Honda
Completion Date: 07/15 Target: UYT Acquirer: The Yongtai Group Deal Value: £30 million
Details: Transcend Corporate, the Reading and Birmingham based M&A boutique, has advised Yongtai Group, of Shandong China, on the acquisition of UYT for £30m. UYT is an automotive component manufacturer of Body-in-White components and sunroof assemblies and principally supplies Honda UK
Corporate Finance Advisers: Transcend Corporate, Ian Curtis Legal Advisers: Squire Patton Boggs, Ed Dawes Financial Due Diligence: BDO, John Parkinson
Next Deadline Monday September 14 – for the October issue Submit to:
steve@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 TPI for Packaging Siobhan Freegard
team’s experience in digital business and ITV’s brand strength, Channel Mum is on the right track to become a powerful business. We look forward to working with them again in the future.”
Details: Andrew Thomson or Julia Carruthers 01491-579740
www.hmtllp.com
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