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deals update


LATEST DEALS DATA FROM ACROSS


THE REGION Project Aster


Completion Date: 28/07/17 Target: Martello Holdings Acquirer: Franki Foundations (subsidiary of BESIX Group) Deal Value: Undisclosed


Details: Martello Group UK, which designs and manufacturers rigs to allow its teams to work on challenging construction sites, has been sold to Franki Foundations. The acquisition significantly contributes to the growth of Franki Foundations UK and achieves a combined turnover of approximately 32 million EUR and a total of 84 employees


Corporate Finance Advisers: Adam Stronach, Harwood Hutton


Legal Advisers to vendors: David Smellie, partner, B P Collins for shareholders of Martello Holdings


Refinancing of Kynetec Group


Completion Date: 15/05/17 Target: Kynetec Group Deal Value: Undisclosed


Details: Spectrum Corporate Finance has successfully advised Kynetec Group and Inflexion on a debt raise through Lloyds Bank to refinance the business


Funding: Lloyds Bank


Corporate Finance Advisers: Spectrum Corporate Finance – Ian Milne and Simon Sherliker (debt advice to management and Inflexion)


Churches Fire Security


Completion Date: 19/07/17 Target: Churches Fire Security Acquirer: Lyceum Capital Partners Deal Value: £40 million plus


Details: In a deal worth over £40 million, the management team led by founder Paul Topley, with managing director Lorna Hayes and financial director Simon Burns, re-invested alongside Lyceum as the company invests for expansion. HSBC provided debt for the transaction and further committed facilities for acquisitions, alongside Lyceum


Funding: Lyceum Capital Partners and HSBC Bank plc Corporate Finance Advisers: Rothschilds


Legal Advisers: For the company and management team - Paris Smith (Amanda Brockwell, Jonathan Roy and Arezou Rezai). For Lyceum- Travers Smith


Financial Due Diligence: PwC LLP Go Jumpin secures funding


Completion Date: 06/2017 Target: Go Jumpin


Details: HMT LLP led by partner Andrew Thomson and senior manager David Copp advised indoor trampoline arena operator Go Jumpin on its recent development capital funding to support its continued expansion


Funding: KERN Ventures Corporate Finance Advisers: HMT


Sale of Elemental Healthcare


Completion Date: 07/17 Target: Elemental Healthcare Acquirer: Surgical Innovations Group plc


Deal Value: £9.4 million


Details: Acting as the lead adviser, Spectrum Corporate Finance has successfully advised specialist medical products distributor Elemental Healthcare on the sale of the business to medical technology designer and manufacturer Surgical Innovations Group plc, in a deal worth £9.4m


Corporate Finance Advisers: Clive Hatchard (managing director) and Bilal Hasan (senior manager) – Spectrum Corporate Finance


Legal Advisers: Clark Holt Financial Due Diligence: James Cowper Kreston


Sale of Direct Medical Imaging


Completion Date: 07/08/17 Target: Direct Medical Imaging Acquirer: Alliance Medical Deal Value: Undisclosed


Details: Completion of sale of scanning clinic Direct Medical Imaging to Alliance Medical Corporate Finance Advisers: BCMS (Ilan Elfassy) Legal Advisers: For the vendors: Continuum


MBO of Amberon


Completion Date: 26/07/17 Target: Amberon Acquirer: LDC (equity investor) Deal Value: £25 million


Details: Amberon, one of the UK’s leading providers of traffic management services, has secured a £25m funding package from private equity investor LDC and HSBC to back the management buyout of the business and fund further expansion


Funding: LDC (equity) and HSBC (debt) Corporate Finance Advisers: BCMS (Andy Denny) Legal Advisers: Boyce Hatton


Acquisition of Prism DM by Whistl


Completion Date: 08/2017 Target: Prism DM Acquirer: Whistl UK Deal Value: Undisclosed


Details: HMT LLP provided buy side advisory and due diligence services to Whistl UK on its acquisition of e-fulfilment company, Prism DM


Corporate Finance Advisers: HMT Legal Advisers: Field Seymour Parkes Financial Due Diligence: HMT


Asset sale of London Waterjet


Completion Date: 30/06/17 Target: London Waterjet Acquirer: Rob and Ryan Waterjet Deal Value: Undisclosed


Details: IBB Solicitors has advised Interarts on the disposal of its waterjet cutting business London Waterjet, which has provided a model making service to the film industry for over 10 years. The business was acquired by Rob and Ryan Waterjet, a company owned by Rob Cross and Ryan Walker


Legal Advisers: IBB Solicitors advised Interarts. Rob and Ryan Waterjet was advised by Kidd Rapinet LLP


Project Bridge (T&T)


Completion Date: 09/05/17 Target: Statesman Travel Group Acquirer: Travel and Transport Inc Deal Value: Undisclosed


Details: RSM UK provided financial due diligence on the acquisition of Statesman Travel Group Limited by Travel & Transport Inc


Financial Due Diligence: RSM UK: Peter Vandervelde, partner; Jo Slade, associate


Debt raise for Automated Systems Group


Completion Date: 02/06/17 Target: Automated Systems Group Deal Value: Undisclosed


Details: Spectrum Corporate Finance has successfully advised Automated Systems Group (ASL) and Mobeus Equity Partners on a debt raise through Santander Growth Capital to assist the continuing acquisition strategy of the business and provide working capital facilities


Funding: Santander Growth Capital


Corporate Finance Advisers: Spectrum Corporate Finance – Ian Milne and Simon Sherliker (debt advice to management and Mobeus)


Dolphin Homes


Completion Date: 20/06/17 Target: Dolphin Homes Acquirer: BGF Deal Value: Undisclosed


Details: Group reorganisation and investment by British Growth Fund in specialist care provider for future acquisition and development of residential care homes


Funding: BGF and Santander UK Corporate Finance Advisers: Rothschilds


Legal Advisers: For the company - Paris Smith (Jonathan Roy and Richard Atcherley). For BGF- Coffin Mew (Nick Gross). For Santander -Bond Pearce


Financial Advisers: Menzies Solent Office BIMBO of Gradwell Communications


Completion Date: 07/2017 Target: Gradwell Communications Acquirer: TFM Networks Deal Value: Undisclosed


Details: HMT LLP led by partner Paul Read and executive Matthew Jones undertook financial due diligence for Chiltern Capital on its investment in Gradwell Communications to support the buyin management buyout


Funding: Chiltern Capital Partners Legal Advisers: Clarke Willmott Financial Due Diligence: HMT


Project Bright


Completion Date: 07/06/17 Target: Lucid Group Communications Acquirer: LDC Managers Deal Value: £11 million


Details: RSM UK provided financial and tax due diligence on LDC’s acquisition of a minority stake in Lucid Group Communications


Financial Due Diligence: RSM UK: Rebecca Guerin, partner; Alex Pike, associate director; Steve Jacob, tax partner; Raj Sangha, tax associate director


20


businessmag.co.uk


THE BUSINESS MAGAZINE – SEPTEMBER 2017


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