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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


deals update 35 Project Farm


SG Systems (UK)


Completion Date: 11/12/15 Target: SG Systems (UK) Acquirer: PHSC plc Deal Value: Undisclosed


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


Project Oscar


Completion Date: 03/12/15 Target: Oxford Technologies Acquirer: Kurion, Inc Deal Value: Undisclosed


Details: Henmans Freeth acted for the selling shareholders of Oxford Technologies, the premier UK robotics and remote systems, to Kurion, Inc. OTL recently won the Minister‘s Award from the UK Nuclear Decommissioning Authority, recognising OTL‘s value, flexibility and innovation


Legal Advisers: Henmans Freeth (Leon Arnold and Malin Svanberg Larsson – corporate; Claire Boyce – tax) for the vendors and Morrison Foerster LLP for the acquirer


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


Completion Date: 12/15 Target: Ferex (trading as Euraqua) Acquirer: Pollet Water Group NV Deal Value: Undisclosed


Project Maranello


Completion Date: 01/12/15 Target: Hyperactive Broadcast Acquirer: Gravity Media Group Deal Value: Undisclosed


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 John Noad Holdings 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


THE BUSINESS MAGAZINE – THAMES VALLEY – FEBRUARY 2016


Completion Date: 12/15 Target: John Noad Holdings Acquirer: Management team Deal Value: Undisclosed


Details: Management buyout of John Noad Holdings – a building services provider based in Essex. The corporate finance team at James Cowper Kreston provided lead advisory services to the vendor


Corporate Finance Advisers: James Cowper Kreston Legal Advisers: Stone Rowe Brewer


Details: Henmans Freeth acted for the selling shareholders on the sale of Hyperactive Broadcast, a provider of professional equipment to the TV and film industry to the Gravity Media Group, owner of Gearhouse Broadcast. Hyperactive‘s equipment has been used at major events across the world, including London 2012, FIFA World Cup and the EUFA Europan Football Championships


Legal Advisers: Henmans Freeth (Leon Arnold and Malin Svanberg Larsson – corporate; Claire Boyce – tax) for the vendors and Howes Percival LLP for the acquirer


Corporate Finance Advisers: BCMS Corporate for the vendors


Details: The corporate finance team at James Cowper Kreston provided financial due diligence and acquisition advisory services to the acquirer


Corporate Finance Advisers: James Cowper Kreston Legal Advisers: Blake Morgan Financial Due Diligence: James Cowper Kreston


Ferex


Completion Date: 11/15 Target: The Global Animal Health & Crop Division of GfK Acquirer: Management team and Inflexion Private Equity Deal Value: Undisclosed


Details: Management buyout of GfK‘s UK Crop & Animal Health division. James Cowper Kreston provided lead advisory services to the management team on the transaction with backing from Inflexion Private Equity


Funding: Inflexion Private Equity Corporate Finance Advisers: James Cowper Kreston Legal Advisers: Addleshaw Goddard and Pitmans Financial Due Diligence: Alvarez & Marsal Commercial Due Diligence: Plural Strategy


Acquisition of Bodmin Jail


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


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


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