deals update continued from previous page ... Mobile Mini UK’s acquisition of Mr Box
Completion Date: 30/11/16 Target: Mr Box Acquirer: Mobile Mini UK Deal Value: Undisclosed
Details: Mobile Mini UK – a leading hirer of portable site accommodation and secure storage containers, with global headquarters in Arizona, USA and UK operations based in Stockton-on-Tees – has acquired Mr Box – a storage container sales and hire business
Financial Due Diligence: KPMG Commercial Due Diligence: B P Collins
Tregartha Dinnie
Completion Date: 15/12/16 Target: Tregartha Dinnie Acquirer: Walters Snowdon Advertising Deal Value: Undisclosed
Details: Tregartha Dinnie (TD) is a marketing communications agency with core skills in both digital and graphic design, PR and events. Established for 30 years, TD has particular expertise in the B2B, retail, education, local government and technology sectors
Corporate Finance Advisers: BCMS (Andy Hunt) Legal Advisers: Harrison Clark Rickerbys (Rebecca Leask)
Investment in Newsflare
Completion Date: 12/16 Target: Newsflare Acquirer: Edge Investments Deal Value: £2.4 million
Details: HMT LLP, led by partner Paul Read, undertook due diligence for Edge Investments on their £2.4 million investment in online video news community Newsflare
Funding: Edge Investments Financial Due Diligence: HMT
Mobile Mini UK’s acquisition of Containers 2000
Completion Date: 30/11/16 Target: Containers 2000 Acquirer: Mobile Mini UK Deal Value: Undisclosed
Details: Mobile Mini UK – a leading hirer of portable site accommodation and secure storage containers, with global headquarters in Arizona, USA and UK operations based in Stockton-on-Tees – has acquired Containers 2000 – a high- quality secure storage container business
Financial Due Diligence: KPMG Commercial Due Diligence: B P Collins
Sale of Karma Communications Holdings
Completion Date: 01/12/16 Target: Karma Communications Group Acquirer: Accenture Deal Value: Undisclosed
Details: Osborne Clarke has advised the management team of Karma Communications Group on the group’s sale to Accenture for an undisclosed sum
Funding: Phoenix Equity Partners (Mark Sargeant) Corporate Finance Advisers: GP Bullhound
Legal Advisers: Osborne Clarke LLP (Greg Leyshon, Mathias Loertscher and Rebekah Winsor) legal advisers to management; Baker & McKenzie LLP acted for Accenture
Next Deadline Monday, February 13 for the March issue
To submit deal data or to advertise on this page contact:
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
finance
Debt advisory finds success in 2016
HMT established its debt advisory business in September 2015. Led by partner Chris Gow, 2016 has been an excellent first full calendar year for the franchise with six deals completed and c£50 million debt arranged. In addition, another two deals are approved by credit and due for completion shortly, so 2017 should get off to a positive start
Furthermore, the early-stage pipeline has been and remains robust and absent from significant credit shocks, 2017 is likely to be an even stronger year for the debt advisory business. At a macro level, if credit markets can cope with the unexpected events of 2016, it is hard to imagine what will throw them fundamentally off track in 2017.
Completed deals include a new finance package for Cirencester-based SaaS business Kallidus, acquisition funding for Northamptonshire Hotel & Leisure business Whittlebury Park, growth capital for trampoline arena operator Jump In and a debt package to support the MBO of Dudley-based pressings business Clamason Industries.
However, raising debt continues to become even more stringent and complex than it was before, with processes frequently becoming
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businessmag.co.uk
elongated as business owners manage increasingly granular information and data requests from lenders.
But a positive feature of 2016 is the spread of lenders supporting HMT’s transactions including mainstream clearers HSBC and RBS along with challenger banks such as Clydesdale, Santander and OakNorth Bank. We expect the stable of active lenders to continue to evolve (to include credit funds and ABL providers) in 2017, although individual credit processes are likely to remain relatively challenging.
Since the summer, HMT has increasingly seen incumbent lenders more actively manage credit risk, particularly in specific markets and sectors. Alongside a possible new wave of restructurings, HMT believes this could lead to a higher volume of rebankings in 2017 and 2018.
THE BUSINESS MAGAZINE – THAMES VALLEY – FEBRUARY 2017
Hiring the right debt adviser can help a borrower save money and time by in- sourcing debt and project management expertise to run a financing process efficiently and effectively.
HMT will continue to differentiate its debt advisory offering by focusing on SME and lower mid market clients who appreciate its:
• market reputation combined with its established contact base that helps bring borrowers and lenders together efficiently
• unique experience and market position, which enables HMT to offer impartial advice and opinions to guide clients towards the best debt-funding solution
• commercial excellence that means HMT can source and negotiate the best deal for clients, delivering the optimum balance between pricing and commercial terms
• partner-based delivery and execution model
hmtllp.com
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