deals Continuing corporate finance success
As the leading transactional firm in the Thames Valley, HMT continues its success in corporate finance with over 20 deals already completed this year of an aggregate value in excess of £200 million, writes Ian Barton, partner, HMT LLP
After advising on the MBOs of Whistl and ILG last year, we have again demonstrated our expertise in the logistics sector by completing two major transactions in the industry – the MBO of Dalepak led by Sovereign Capital and the disposal of QTR Transport to Palletforce.
We also led the Series B investment in Channel Mum by NVM who joins iTV as investors in the fast-growing online vlogging business.
The fashion and retail sectors have shown a strong dealmaking activity with several transactions completed including the investment in Thread by Beringea and the fundraising for online fashion retailer Little Black Dress.
As well as leading deals, our transaction support team which includes due diligence, debt advisory, financial modelling and transactional tax has had a very pro-active new year.
Our team has undertaken due diligence for Sovereign Capital, Beringea, LDC,
Maven, Mobeus and Encore Capital and we currently have 10 live deals with private- equity investors and banks expecting to close this autumn.
Chris Gow, who leads our debt advisory business, has led several transactions across a range of debt products whether refinancings, expansion capital or financial restructurings. Financial modelling is a dedicated service line as part of our transaction support offering having supported Equiom’s fundraise at the start of 2016.
Our transactional tax team led by Holly Bedford-Bell had a busy start to the year with the budgetary changes and we continue to see a steady stream of clients looking to realise capital exits.
With our wide range of corporate finance services, and deal-doing leadership we look forward to continuing our success for the rest of 2016 and beyond. We are always happy to meet and share our expertise with entrepreneurial businesses looking forward to explore their options and opportunities.
As the ‘Independent Firm of the Year’ for the South-East at the British Accountancy Awards last year, HMT’s corporate finance expertise was recognised again at the 2016 Thames Valley Deal Awards winning ‘Corporate Finance Team of the Year’ and Deal Maker of the year for HMT partner Ian Barton. In addition two deals HMT advised on were awarded ‘Deal of the Year’ in their respective categories – the MBO of BOFA International (under £25m) and the MBO of Whistl UK (over £25m).
Ian Barton
ibarton@hmtllp.com – 01491 579740
Andrew Thomson
athomson@hmtllp.com – 01491 579740
Paul Read
pread@hmtllp.com – 020 3440 7415 Chris Gow
cgow@hmtllp.com – 020 3440 7415 Gateley acquires Hamer Associates
National full-service commercial law firm Gateley, which has an office in Reading, has acquired specialist property consultancy Hamer Associates in a £2.05 million deal.
Hamer Associates, to be renamed Gateley Hamer, is the second acquisition Gateley has made since the Group’s admission to AIM in June 2015. In April, the firm acquired specialist property business Gateley Capitus.
Founded in 2000 by chairman Charles Hamer, who with managing director Jonathan Stott has more than 55 years’ combined experience in the property industry, Hamer Associates specialises in providing expert advice across the UK relating to easements and wayleaves for utilities infrastructure, and compulsory purchase and compensation.
The easements and wayleaves team advises property developers on negotiations in relation to the removal of
utility infrastructure (pylons, cables, pipes) from development sites, and negotiates compensation for loss of development value where that infrastructure remains in-situ.
The compulsory purchase and compensation team advises project promoters on all aspects of compulsory purchase, from initial consultation through to settlement of claims; facilitating housing, regeneration, infrastructure and energy projects. The team also represents landowners and businesses affected by compulsory purchase, for example High Speed 2, Crossrail and Thames Tideway Tunnel.
In the year ended March 31, 2016, Hamer Associates generated revenues of £1.2 million and operating profit of £292,000.
The acquisition of Hamer Associates is consistent with Gateley’s IPO growth strategy to acquire businesses offering complementary professional and other
THE BUSINESS MAGAZINE – THAMES VALLEY – OCTOBER 2016
specialist services across the firm’s five business groups, including property. It will also enhance Gateley’s ability to support its property clients by offering them specialist commercial property services.
Gateley Hamer will sit alongside Gateley’s national property business, which acts for developers, including 17 of the UK’s top-20 house builders.
Michael Ward, CEO of Gateley, said: “Hamer Associates is the second acquisition we have made post-flotation in our strategy to bring complementary and specialist services in to the Group.
“Hamer’s first-class reputation and acknowledged expertise has generated an impressive list of both private and public-sector clients and we are excited about the new opportunities the acquisition brings to both Hamer and the wider Gateley group.”
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