DEALS & MERGERS IN BRIEF Leicestershire law firms
advise on sale The corporate teams at Leicester law firm Spearing Waite LLP and Grant Thornton UK LLP have recently advised the sellers in the disposal of D & H Engineering and its Polish subsidiary. The transaction involved the Sellers retaining the existing Indian operations. Specialist precision engineering company D & H was founded in 1992 and has been sold to a Polish buyer for an undisclosed amount. Spearing Waite Corporate
Partner Jahid Ali (pictured), who led the deal, said: “It was an interesting transaction dealing with aspects across three jurisdictions (UK, Poland and India). It highlights the corporate team’s greater foothold in the local market and our strength in dealing with complex transactions.” Kaushik Bathia, Partner in
Leicester, advised on behalf of Grant Thornton UK LLP.
Cooper Parry corporate
finance completes sale The Corporate Finance team at Midlands-based Cooper Parry has led the sale of a division of leading healthcare specialists Pennine Healthcare to privately- owned medical supply manufacturers Unisurge. Cooper Parry acted as lead
advisers to the shareholders of Pennine Heathcare on the disposal of its medical procedure packs division, while Fraser Cunningham from East Midlands’ law firm, Smith Partnership, provided legal advice. Pennine Healthcare is one of
the UK’s leading privately owned manufacturers of single use, sterile medical devices and customer procedure packs.
Ashwood Partnerships
dips toe in offshore waters Ashwood Partnerships and Aberdeen-based Subsea International have agreed an equipment funding arrangement to enable the latter’s customers to access financial support for purchasing equipment. Ashwood Partnerships specialises in sourcing and implementing funding solutions that help companies create opportunities, increase sales, save time and reduce costs, while Subsea International is an equipment sourcing and technical support hub.
Growth fund helps put GCI on track for future success
Mark Allen, CFO at GCI
GCI, one of the UK’s leading Managed IT Service Providers (MSPs) has announces that it has secured a £50m acquisition growth fund to support its strategic objectives. The fund was facilitated via the Royal Bank of
Scotland and HSBC, in a deal led by GCI’s CFO Mark Allen and brokered with the support of fellow Chamber patron, KPMG.
‘We are focusing GCI’s services and solutions around the needs of our customers’
Mark said: “GCI has come a long way over the past
nine months. At the start of the year we took a long hard look at our operation, and our marketplace, and set about finessing an organisation that has been 16 years in the making. The securing of this £50m fund is another step in our journey and our relentless pursuit of building a world class managed services organisation. “In terms of strategy, we are focusing GCI’s services andsolutions around the needs of our customers and the irreversible trends in the business landscape,
including the need to support an increasingly mobile workforce, the need to enable and support digital transformation and collaboration, the need for increasingly sophisticated security and compliance solutions, the need to support the ‘rise and rise’ of the omnichannel and diverse communications platforms. This £50m fund will help us robustly address those customer challenges and will help take GCI to the next level.” Adrian Thirkill, CEO at GCI, added: “This is another
great milestone for GCI. As an indicator of our resolve to build something special, our investments to date have already positioned GCI as a leading player in unified uommunications with more than 60 Microsoft- certified professionals within our 300 strong organisation.’’ Zoe Clarke of KPMG, who helped GCI’s CFO Mark
Allen broker the deal, said: “This is a landmark transaction which will help GCI to take forward its significant growth ambitions by allowing it to take advantage of acquisition growth opportunities as the business looks to build-out and add capabilities. “Securing such a flexible bank facility not only shows
the strength of the company’s strategy, but is also an indicator of the attractive bank market conditions still available for businesses with strong credit profiles.”
JCB hails huge deal from A-Plant
JCB has announced one of its biggest deals of the year with an order for 1,200 machines worth £35m from the UK’s largest plant hire firm. The contract from A-Plant – which
follows its purchase last year of 1,500 JCB machines worth £50m – includes a fleet of 13-tonne JS130 tracked excavators made at JCB Heavy Products in Uttoxeter, Staffordshire. For the first time, A-Plant is also
investing in a range of UK- produced generators for the rental market from JCB Power Products. The range – produced by the former Broadcrown business acquired by JCB last year – is fitted with the revolutionary ‘JCB LiveLink for Power feature’. Almost 40 sets have been purchased, providing enough power to keep two hospitals, or 1,000 homes, running.
12 business network December 2016/January 2017 JCB is the market leader in the UK and Ireland construction equipment markets The latest order marks a major
milestone for A-Plant as it now means the company has bought more than 11,000 machines from JCB since the first one was purchased more than 25 years ago.
JCB UK & Ireland Sales Director
Dan Thompstone said: “Winning business like this is testament to JCB’s continued introduction of innovative products supported by service back- up from the JCB UK dealer network.”
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