46 deals update Latest deals data from across the region
CR7 Services
Completion Date: 05/15 Target: CR7 Services Acquirer: Livingbridge Private Equity Deal Value: c£15 million
Details: Spectrum Corporate Finance arranged growth debt facilities on behalf of Livingbridge and CR7 management to finance the on-going development of the company‘s exciting new technology
Funding: RBS Financial Sponsors, South
Corporate Finance Advisers: Spectrum - Ian Milne and Bilal Hasan Legal Advisers: Osborne Clarke, Reading Financial Due Diligence: Grant Thornton
Ridgefield Consulting
Completion Date: 01/05/15 Target: Ridgefield Consulting Acquirer: Hunter Marshall & Co Deal Value: Undisclosed
Details: Henmans Freeth, led by senior associate Tom Walker, advised Santander on their funding of Ridgefield Consulting, a privately-owned boutique firm of chartered accountants and tax advisers, including acquisition funding to acquire Hunter Marshall & Co, a firm of chartered accountants. The new combined entity will trade as Hunter, Thomas & Co
Funding: Santander UK plc
Legal Advisers: Henmans Freeth for the bank and Hedges Law for the acquirer
Advanced Insulation acquires Covertherm Seating Direct
Completion Date: 04/15 Target: Seating Direct Acquirer: Seating Direct Holdings Deal Value: Undisclosed
Details: Henmans Freeth acted for the selling shareholders on the sale of Seating Direct, a company specialising in the manufacturing of support solutions in ergonomic seating, to Seating Direct Holdings
Legal Advisers: Henmans Freeth (Leon Arnold and Malin Svanberg Larsson – corporate; Adrian Hackett and Claire Boyce - tax) for the vendors and Hawkins Hatton Corporate Lawyers for the acquirer
Project Wolf
Completion Date: 05/15 Target: Process Flows (UK) Acquirer: Management Deal Value: Undisclosed
Details: Meridian Corporate Finance advised the management team of Process Flows on their MBO from Avanquest Software SA, a French listed software company. Process Flows are a Winchester based leading technology and software provider
Funding: Barclays Bank Plc, Southampton Corporate Finance Advisers: Meridian
Legal Advisers: Shoosmiths LLP (Whiteley)/Osborne Clark (Reading) Financial Due Diligence: Nick Williams, partner, Baker Tilly
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Completion Date: 05/15 Target: Covertherm Acquirer: Advanced Insulation Deal Value: Undisclosed
Details: Baker Tilly‘s M&A and private equity team successfully advised Advanced Insulation on their acquisition of Covertherm. Backed by private equity group, Growth Capital Partners, Advanced Insulation is best known for sub-sea oil and gas insulation and top-side fireproofing products. Baker Tilly made the initial contact with Covertherm, carried out DD and advised Advanced Insulation through each stage of the process
Funding: Santander
Corporate Finance Advisers: Baker Tilly: Ian Wherry, partner; and, Clodagh Muggeridge, associate director Legal Advisers: DAC Beachcroft Financial Due Diligence: Baker Tilly
Micheldever acquires The Maxtread Group
Completion Date: 15/06/15 Target: The Maxtread Group Acquirer: Micheldever Tyre Services Deal Value: Undisclosed
Details: Micheldever has acquired The Maxtread Group of companies which operate three retail tyre depots in Middlesbrough, Stockton-On-Tees and Billingham
Legal Advisers: Thomas Eggar
Financial Due Diligence: Baker Tilly: Nick Williams, partner; Alex Milne, manager; Michelle Harris, tax partner; and, Tracy Bacon, senior manager
Completion Date: 05/15 Target: Pervasive Networks Acquirer: Capita plc Deal Value: Undisclosed
Details: Meridian Corporate Finance worked alongside the shareholders of Pervasive, an IT solutions provider specialising in the mobility and wireless networking services on their sale to UK IT and professional services giant, Capita. From the signature of Heads of Terms the deal process lasted just over four weeks
Corporate Finance Advisers: Meridian Legal Advisers: Shoosmiths LLP (Reading)/DWF LLP Financial Due Diligence: KPMG (London)
Channel 4 invests in Voltage TV
Completion Date: 05/15 Target: Voltage TV Productions Acquirer: Channel 4 Deal Value: Undisclosed
Details: Baker Tilly‘s transaction services team successfully completed financial due diligence on behalf of Channel 4 and their investment in Voltage TV Productions. Baker Tilly supported Channel 4 as it made a further Growth Fund investment, on its equity stake in one of the fastest growing new production companies, Voltage TV Productions
Funding: Channel 4 Growth Fund
Financial Due Diligence: Baker Tilly: Rebecca Guerin, partner; Dominic Woodward, associate; and, Steve Jacob, tax partner
Completion Date: 05/15 Target: Fern-Howard Acquirer: N/A Deal Value: Undisclosed
Details: Meridian Corporate Finance assisted Fern-Howard, an Alton based company specialising in the design and manufacture of energy efficient lighting in raising additional funding from GE Capital
Funding: GE Capital Corporate Finance Advisers: Meridian
Project Beeston
Completion Date: 31/05/15 Target: Brixx Solutions Acquirer: Castleton Technology plc Deal Value: £5 million
Details: MHA MacIntyre Hudson Corporate Finance provided advice on the sale for £5m of Brixx Solutions, provider of software enabling users to produce financial models and long-term forecasts to Castleton Technology, the software and managed services provider to the public and not-for-profit sectors
Advisers: Jason Mitchell and Chris Denning, MacIntyre Hudson Micheldever acquires Walker‘s Tyre Service
Completion Date: 06/15 Target: Walker‘s Tyre Service Acquirer: Micheldever Tyre Services Deal Value: Undisclosed
Details: Micheldever has acquired Walker‘s Tyres which operates four retail tyre depots in and around Leicester Legal Advisers: Thomas Eggar
Financial Due Diligence: Baker Tilly: Nick Williams, partner; Sarah Hodges, executive; Michelle Harris, tax partner; and, Tracy Bacon, senior manager
Next Deadline
The next Deals Update will be in our September issue
Deadline for submissions is Monday August 10 To submit deal information or to advertise on this page contact: Steve Banbury • 0118-9766414 •
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
THE BUSINESS MAGAZINE – THAMES VALLEY – JULY/AUGUST 2015 Project Vaux
Songkick merge with CrowdSurge
Completion Date: 06/15 Target: CrowdSurge Acquirer: Songkick Deal Value: Undisclosed
Details: MHA MacIntyre Hudson Corporate Finance provided financial due diligence in the 50/50 merger of Songkick and Crowdsurge. Songkick, the name of the merged company, also announced $16 million in new funding from Access Industries and existing investors Index Ventures and Sequoia Capital
Advisers: Jason Mitchell, MacIntyre Hudson Legal Advisers: David Scott of Harbottle & Lewis
Project Pharos
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