24 deals update


Latest deals data from across the region Project Tuba


Completion Date: 10/15 Target: aap3 Acquirer: Management team Deal Value: Undisclosed


Details: Meridian Corporate Finance advised the management team on their buyout of aap3, a Hampshire-based company specialising in IT engineering, business solutions and recruitment


Funding: Lloyds Bank plc – Alison Trant and Liam Madigan


Corporate Finance Advisers: Meridian – Darren Thompson and Philip Mettam


Legal Advisers: Trethowans LLP – Lucy Grey and Nick Gent (buy side); Shoosmiths LLP – Lisa Sigalet (sale side). Tax Advisers: Fiander Tovell LLP – Cathy Revis


Details: Spectrum Corporate Finance has advised Access-IS and shareholders on an investment by Mobeus Equity Partners to support the management team in growing the electronic data-capture business. Spectrum acted as lead adviser to the owners introducing potential investors, helping to structure the deal and project managing the project through to a successful completion


Funding: Mobeus Equity Partners; Barclays


Corporate Finance Advisers: Spectrum (shareholders); James Cowper Kreston (management)


Legal Advisers: Blake Morgan (shareholders); Osborne Clarke (management); Squire Patton Boggs (Mobeus) Financial Due Diligence: PwC Reading Commercial Due Diligence: Fairgrove


Acquisition of Ravensthorpe Construction


Completion Date: 22/10/15 Target: Ravensthorpe Construction Acquirer: DJ Hutchings Deal Value: Undisclosed


Details: Osborne Clarke LLP acted for DJ Hutchings on its acquisition of the insurance claims repair business division of Ravensthorpe Construction and an investment in DJ Hutchings


Legal Advisers: Osborne Clarke (Sara Valentine and Mike Freer)


Jack Brunsdon & Son


Completion Date: Autumn/15 Target: Jack Brunsdon & Son Acquirer: Inwido UK Deal Value: Undisclosed


Deal of the month Sale of Bush & Company Rehabilitation


Completion Date: 14/10/15 Target: Bush & Company Rehabilitation Acquirer: NAHL Group plc


Deal Value: Total cash consideration of around £28.3 million


MBO of Whistl


Completion Date: 10/15 Target: Whistl Deal Value: Undisclosed


Details: HMT LLP led by partner Ian Barton, associate director Matthew Gordon-Smith and senior manager Julia Carruthers advised Dutch group PostNL BV on the transfer of UK subsidiary, Whistl UK and its subsidiaries, to its management team


Funding: RBS Corporate Finance Advisers: HMT


Details: A multi-disciplinary Penningtons Manches team led by corporate partner Will Axtell advised on the sale of the issued share capital of Bush & Company Rehabilitation, a leading UK provider of expert witness, immediate needs assessment and case management services, to NAHL Group plc for £28.3m


Corporate Finance Advisers: Rockworth Management Partners


Legal Advisers: For vendors – Penningtons Manches LLP. For purchaser – Osborne Clarke


Financial Due Diligence: KPMG Commercial Due Diligence: Credo


Details: Henmans Freeth acted for the selling shareholders on the sale of Jack Brunsdon & Son, a leading supplier of high quality windows and doors in the South East, to the Inwido group, Europe’s largest supplier of windows and doors. The acquirer commented: “The acquisition of Jack Brunsdon & Son, with annual sales of approx. SEK 100 million, instantly almost doubles our operations in the UK,“ adding that “as a premium brand, Jack Brunsdon contributes expertise that we’ve not previously had in this market.“


Legal Advisers: Henmans Freeth (Malcolm Sadler and Malin Svanberg Larsson – corporate; Claire Boyce – tax) for the sellers and Olswang LLP for the acquirer


Investment by Mobeus Equity Partners into Access IS Completion Date: 10/15 Business: Access IS Deal Value: Undisclosed


MBO of International Logistics Group


Completion Date: 10/15 Target: International Logistics Group Deal Value: Undisclosed


Details: HMT LLP led by partner Mark Lucas, associate director Matthew Gordon-Smith and tax director Holly Bedford, advised the management team of International Logistics Group on its management buyout


Funding: Percipient Capital and Santander Corporate Finance Advisers: HMT Legal Advisers: Boyes Turner


Next Deadline


The next Deals Update will be in our February issue


Deadline for submissions is Monday January 11 To submit deal information or to advertise on this page contact: Steve Banbury • 0118-9766414 • 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


Shoosmiths advises Mortgages Made Easy on major investment


Shoosmiths LLP advised the shareholders and the management team of Mortgages Made Easy on the acquisition of Contractor Financials and the additional investment for growth by Livingbridge.


Headquartered in Whiteley, Hampshire, Mortgages Made Easy is one of the UK’s leading providers of broking services for mortgages and related financial products to the contractor freelancing industry. The


www.businessmag.co.uk


company was established by Sat Singh in 2004, who continues to run the business alongside a core management team consisting of Taj Kang and Andy McBride. The combined business will employ over 130 staff and it is anticipated that it will deliver over 7,000 mortgages a year to contractors and freelancers across the country.


The investment by Livingbridge will allow for further growth of the group to achieve its


aim to become one of the top three national brokers in the UK (non estate agency led).


Sean Wright of Shoosmiths led the deal, supported by partner Lynn Knight, Lisa Sigalet and Ross Lang (corporate) and Janet Dalton (regulatory).


Singh, who is CEO, commented: “Shoosmiths provided an excellent service to the shareholders and management throughout the process. Sean and the team worked to tight deadlines, giving commercial and concise advice during a complex and multi- faceted transaction. The entire team worked tirelessly with constant good humour and I would thoroughly recommend them.“


THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – DECEMBER 15/JANUARY 16


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