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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 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


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


Legal Advisers: FSP – target company. Squire Patton Boggs – funder. Shoosmiths – bank. Acquirer – PDT


Sale of MTI Europe


Completion Date: 09/01/17 Target: MTI Europe, owned by US-based private equity fund Garnett and Helfrich Capital LLP Acquirer: Endless Private Equity Deal Value: Undisclosed


Details: Spectrum Corporate Finance has successfully advised the shareholders of US-based private equity fund Garnett and Helfrich Capital on the sale of portfolio business MTI Europe to UK-based private equity firm Endless LLP. MTI is a market-leading provider of IT storage infrastructure and security solutions. The business attracted interest from global trade and private equity buyers


Funding: Endless Private Equity: Ed Ransome, Francesco Santinon and David Isaacs


Corporate Finance Advisers: Spectrum – Clive Hatchard, James Mines and Iain McKenzie


Legal Advisers: DAC Beechcroft (MTI); Cooley (Garnett and Helfrich); Eversheds (Endless)


Financial Due Diligence: BDO 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


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


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


18


businessmag.co.uk


THE BUSINESS MAGAZINE – SOLENT & SOUTH COAST – FEBRUARY 2017


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