44 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


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


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


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


Leumi ABL completes £9m financing deal with Aeromet International


Leumi ABL has provided a £9 million structured funding facility to support an investor-led buyout of leading aerospace components manufacturer, Aeromet International.


The facility included invoice discounting, stock finance, plant and machinery finance and an amortising term loan to help facilitate headroom on the transaction.


www.businessmag.co.uk


Aeromet is a long-established supplier of aerospace components to aircraft manufacturers such as Boeing, Airbus and Meggitt. The business was acquired by UK investor Privet Capital as a non-core disposal from US entity Black Diamond.


The complex transaction involved three trading sites in the UK (in Worcester and Kent) and a team of over 200 staff at Aeromet. It will allow the business to


further its well-established relationships with key aircraft manufacturers and also develop its prototype range of A20X alloy products. Steve Keating, owner of Privet Capital, was supported through the transaction by his team of Ian Slater and Vardhan Rajkumar.


Leumi ABL was involved by Privet Capital at an early stage of eventually lengthy negotiations, in order to structure the most appropriate funding arrangement to support both the transaction and future growth potential with projected revenue increases in the next three years.


THE BUSINESS MAGAZINE – THAMES VALLEY – DECEMBER 15/JANUARY 16


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