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
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businessmag.co.uk
THE BUSINESS MAGAZINE – SOLENT & SOUTH COAST – FEBRUARY 2017
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