deals update 21 Project Bee
Completion Date: 03/12/15 Target: Traceway Acquirer: Chandlers Building Supplies Deal Value: Undisclosed
Details: Traceway, trading as Banstead Builders Merchants, based in Surrey, previously focused on the supply of heavyside and timber products. By joining forces its possible to exploit a number of benefits and opportunities not otherwise available, such as enhanced procurement, sharing of central functions and an expanded branch network
Legal Advisers: Mike Watson, Lucy Grey and Jamie Earley of Trethowans LLP for the sellers. Helen Mead and Nikki Ashfield of ASB Law for the buyer
Completion Date: 11/12/15 Target: SG Systems (UK) Acquirer: PHSC plc Deal Value: Undisclosed
Santova
Completion Date: 04/12/15 Target: Tradeway (Shipping) and Tradeway North West Acquirer: Santova Administration Services (PTY) Deal Value: Undisclosed
Details: Henmans Freeth acted for Santova, a Johannesburg Stock Exchange listed logistics company, and Santova Administration Services (PTY) in the cross-border acquisition of Tradeway (Shipping), a British freight and logistics company. Henmans Freeth worked closely with South African in-house counsel and advised on the corporate aspects of the transaction under English law
Legal Advisers: Henmans Freeth (Leon Arnold, partner, and Tom Walker, senior associate) for the acquirer and Ramsdens Solicitors LLP for the vendors
Details: Henmans Freeth acted for the selling shareholders of SG Systems (UK), a growing anti-theft solutions and merchandising company providing a range of security products and services to large national, key regional and independent retailers across the UK, Europe and USA, to PHSC plc
Legal Advisers: Henmans Freeth (Leon Arnold and Malin Svanberg Larsson – corporate) for the vendors and Gullands for the acquirer
Corporate Finance Advisers: BCMS Corporate for the vendors
Partial MBO exit transaction for RCL
Completion Date: 11/15 Target: Sunshine Cruise Holding Acquirer: MBO team at Sunshine Cruise Holdings Deal Value: Undisclosed
Details: Mundays LLP advised Royal Caribbean Cruises in the sale of a 60% shareholding in Sunshine Cruise Holdings to a management buyout team
Legal Advisers: Mundays for RCL and Hill Dickinson (Manchester) for MBO team
Intelligent Insurance secures investment with help from Steele Raymond
SG Systems (UK)
Insurance specialist Intelligent Insurance has enlisted the advice of Steele Raymond, leading Bournemouth commercial solicitors, to support its latest round of investment. The insurer has secured an undisclosed amount through an Enterprise Investment Scheme (EIS) to help drive its ambitious plans for growth.
Headquartered in Ringwood, Intelligent Insurance is dedicated to finding home insurance for typically ‘hard to insure‘ properties and circumstances. Its management team, led by the founder of RIAS, Saga Services and Insure4Retirement, combines many decades of experience providing home insurance within the UK.
Churches Fire acquires Uny Systems Fire Detection Airbase Interiors
Completion Date: 12/15 Target: Airbase Interiors Acquirer: Aero Technics Deal Value: Undisclosed
Details: Acquisition of leading cabin interior maintenance and support services provider, Airbase Interiors by Aero Technics. The Corporate Finance team at James Cowper Kreston provided lead advisory services to Airbase
Funding: Palatine Private Equity Corporate Finance Advisers: James Cowper Kreston Legal Advisers: Pitmans LLP
Completion Date: 11/15 Target: Uny Systems Fire Detection Acquirer: Churches Fire Security Deal Value: Undisclosed
Details: Coffin Mew‘s specialist corporate team led the acquisition by Churches Fire Security, a nationwide fire safety specialist, of Uny Systems Fire Detection, based in Pullborough. This is the second acquisition for Churches Fire in the past 12 months which signals rapid growth for the company
Legal Advisers: Coffin Mew, Paris Smith Financial Due Diligence: Spofforths Accountants
David Holden, founder and managing director of Intelligent Insurance, said: ”Intelligent Insurance has some very ambitious plans. As a business it is vital for us to be surrounded by the right commercial solicitors to support these ambitions. Bournemouth is well known for its strong financial services sector, and it also has a top-tier commercial law firm in Steele Raymond. Nick Davies and the corporate team have provided an outstanding level of support and expert advice on a range of complex commercial legal matters.”
Steele Raymond‘s company and commercial team is well versed in acting for members of Dorset and Hampshire‘s financial services sector, and helping businesses like Intelligent Insurance to take funding through initiatives such as the Enterprise Investment Scheme (EIS) – designed to help growing companies raise equity finance by offering tax reliefs to individual investors who purchase new shares in those companies.
Acquisition of Bodmin Jail Abzena plc
Completion Date: 11/15 Target: Ferex (trading as Euraqua) Acquirer: Pollet Water Group NV Deal Value: £20 million
Details: Latest round of fundraising for Abzena plc – an AIM listed pharmaceutical company. The corporate finance team of James Cowper Kreston acted as reporting accountant on the fundraising
Corporate Finance Advisers: James Cowper Kreston THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – FEBRUARY 2016
Completion Date: 11/15 Target: Webb Ellis Estates (proprietor of Bodmin Jail) Acquirer: Mallino Development Deal Value: Undisclosed
Details: Acting for Surrey-based clients on the acquisition of Bodmin Jail which is an historic former prison situated in Bodmin in Cornwall. Built in 1779 and closed in 1927, parts of the prison have been turned into a tourist attraction
Funding: Self-funded
Legal Advisers: Mundays LLP for the acquirer and Clark Holt (Swindon) for the seller Financial Due Diligence: Accountlets Commercial Due Diligence: Buyer/Mundays
Nick Davies, a partner at Steele Raymond, said: ”It‘s been fantastic to see the rapid success David and his team have achieved, and we‘ve been proud to support them in creating a significant new player in the market.”
Next Deadline
The next Deals Update will be in our March issue
Deadline for submissions is Monday February 8 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
www.businessmag.co.uk
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32