deals update
LATEST DEALS DATA FROM ACROSS
THE REGION Disposal of Spend 360 International
Completion Date: 30/12/16 Target: Spend 360 International Acquirer: Coupa Software Inc Deal Value: Undisclosed
Details: Clarke Willmott’s corporate team worked on behalf of Spend 360 International on the disposal of the company’s business to US-based NASDAQ listed buyer Coupa Software Inc
Legal Advisers: Clarke Willmott Project Boswell
Completion Date: 16/12/16 Target: Breathing Buildings Acquirer: Volution Ventilation Group Deal Value: Undisclosed
Details: RSM UK’s transaction services team provided financial due diligence to Volution Group plc on the acquisition of the entire share capital of Breathing Buildings Corporate Finance Advisers: KPMG (adviser to vendors)
Legal Advisers: Stevens & Bolton – Keith Syson, partner; Bethany Sheen, associate; Sarah Balchin, associate
Financial Due Diligence: RSM – David McCulloch, partner; Jerry Hibbs, director; Andrew Choy, manager; Andrew Neuman, associate director, corporate tax
Investment in Go Jumpin
Completion Date: 11/16 Target: Go Jumpin Deal Value: Undisclosed
Details: HMT LLP, led by partner Chris Gow and senior manager Adrian Howells, advised indoor trampoline arena operator GoJumpin on its fundraising supported by Santander Growth Capital
Funding: Santander Growth Capital Corporate Finance Advisers: HMT
Project Grouse
Completion Date: 16/11/16 Target: Shorterm Group plc Acquirer: Growth Capital Partners Deal Value: Deal value confidential (over $20 million)
Details: RSM UK’s transaction services team provided vendor due diligence on Shorterm Group in respect of the secondary buyout by Growth Capital Partners from Chamonix Private Equity.
Funding: Chamonix Private Equity
Corporate Finance Advisers: Livingstone Partners – vendor advisers
Legal Advisers: Dickson Minto – vendor legal. Osborne Clarke – GCP Legal
Financial Due Diligence: RSM – Rebecca Guerin, partner; Jonathan Wade, partner; James Killing, director; James Latimir-Jones, associate; Steve Jacob, transaction tax partner
Commercial Due Diligence: Fairgrove
Acquisition of PDF by EPI
Completion Date: 12/16 Target: PDF Acquirer: The EPI Group Deal Value: Undisclosed
Details: HMT LLP, led by partners Ian Barton and Paul Read, director Holly Bedford-Bell and senior managers Julia Carruthers and Adrian Howells, advised the management team of The EPI Group on their acquisition of leading UK- based oil and gas geoscience consultancy PDF
Funding: Connection Capital Corporate Finance Advisers: HMT Legal Advisers: Gateley Financial Due Diligence: HMT
Sale of Technology Networks
Completion Date: 25/11/16 Target: Technology Networks Acquirer: LabX Media Group Deal Value: Undisclosed
Details: International scientific news and research publisher Technology Networks was acquired by LabX Media Group, Canadian HQed, global tech-driven information and marketing group (in the tech/science sectors)
Corporate Finance Advisers: Harry Dhand of Carabid Consultants LLP acted for the sellers. Alchemy (Canada) acted for the buyer
Legal Advisers: Oliver Kelly, Nick Todd and Laura Wheeler of Pitmans LLP acted on the sale-side. Cobalt of Toronto, Ontario, Canada acted for the buyer
Project Californium
Completion Date: 11/16 Target: Vocality International Acquirer: Cubic Corporation Deal Value: Undisclosed
Details: Charles Russell Speechlys’ Guildford office advised the shareholders of Vocality International, a provider of secure communications solutions on the sale of the company to NYSE listed company, Cubic Corporation
Corporate Finance Advisers: Buzzacott Legal Advisers: Charles Russell Speechlys
Project Panther
Completion Date: 11/11/16 Target: Factor 21 plc and Factor 21 (North) Acquirer: Hamsard 3415 Deal Value: £9 million
Details: RSM UK’s transaction services team provided financial due diligence to Mobeus Equity Partners who backed the MBO of Factor 21 plc and Factor 21 (North) from the business founders
Funding: Mobeus Equity Partners. RBS (debt) Corporate Finance Advisers: Wilson Partners
Sale of World of Books and Ziffit
Completion Date: 22/11/16 Target: A World of Buzz, the parent company of World of Books, World of Rare Books and Ziffit Acquirer: Bridges Ventures Deal Value: Undisclosed
Details: World of Books is the UK’s leading used book, DVD, CD and console game reseller. Acting as the lead adviser Spectrum ran a full marketing process that attracted global interest from both trade and private equity buyers, before agreeing to sell to Bridges Ventures, supported by the incumbent management team. In addition, Spectrum advised Bridges Ventures on a debt raise in support of their investment into A World of Buzz
Funding: Bridges Ventures (private equity); Clydesdale (bank)
Corporate Finance Advisers: Spectrum – Simon Davies and Bilal Hasan (lead advisory); Ian Milne and Simon Sherliker (debt advisory)
Legal Advisers: Pitmans: Sean Kelly Financial Due Diligence: BDO: Andy Harris Commercial Due Diligence: Parthenon-EY: Paul Ahern
Roksan Audio
Completion Date: 25/11/16 Target: Roksan Audio Acquirer: Monitor Audio (UK) Deal Value: Undisclosed
Details: High-end stereo equipment manufacturer Roksan Audio has been acquired by leading speaker specialist Monitor Audio. Founded in 1985, Roksan is renowned among music aficionados for producing prestige turntables, CD players and amplifiers. Monitor Audio – which sells into 100 countries worldwide – has built a market leading position in hi-fi and home cinema speakers, along with streaming products
Corporate Finance Advisers: BCMS (Mark Lucas)
Legal Advisers: FSP – target company. Squire Patton Boggs – funder. Shoosmiths – bank. Acquirer – PDT
Financial Due Diligence: RSM – Rebecca Guerin, partner; Jonathan Wade, partner; Edward Hooper, associate director; Steve Merchant, advisory partner; Steve Jacob, transaction tax partner
Commercial Due Diligence: Fairgrove
Acquisition of Whittlebury Hall & Spa
Completion Date: 12/16 Target: Whittlebury Hall & Spa Acquirer: Whittlebury Park Deal Value: Undisclosed
Details: HMT LLP, led by partner Chris Gow and senior manager Adrian Howells, advised family-owned golf resort operator Whittlebury Park on its acquisition of Whittlebury Hall & Spa for an undisclosed sum
Funding: Oaknorth Bank Corporate Finance Advisers: HMT Financial Due Diligence: Grant Thornton – Cambridge
Sale of Scandor Landscape Contractors
Completion Date: 25/11/16 Target: Scandor Landscape Contractors Acquirer: Carnu Holdings Deal Value: Undisclosed
Details: Hampshire Hedges’ subsidiary, Scandor Landscape Contractorts, a Hampshire-based landsc`pe and maintenance service provider, was acquired by Carnu Holdings
Corporate Finance Advisers: Michael Warner of Michael Warner & Co
Legal Advisers: Oliver Kelly, Nick Todd, Michelle Hall and Laura Wheeler of Pitmans LLP
Financial/Accounting Advisers: Moore Stephens LLP
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businessmag.co.uk
THE BUSINESS MAGAZINE – THAMES VALLEY – FEBRUARY 2017
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