deals update
ITS Technology Group
Completion Date: 14/06/17 Target: ITS Technology Group Acquirer: Maven Capital Partners Deal Value: Undisclosed
Details: Pitmans acted for ITS Technology Group, a leading broadband infrastructure provider, in connection with VCT investment by Maven Capital Partners
Legal Advisers: Oliver Kelly of Pitmans LLP advised ITS. DWF acted for Maven Capital Partners
Financial Due Diligence: Mazars Tax Advisers: Phillip Hare and Associates
Project Apollo
Completion Date: 06/17 Target: Taylor Hopkinson Acquirer: SEA Equity Deal Value: Undisclosed
Details: RSM UK provided financial and tax due diligence in respect of SEA Equity’s investment in Taylor Hopkinson, a recruitment business specialising in the renewable and clean energy sectors
Financial Due Diligence: RSM UK: Rebecca Guerin, partner; James Killing, director; Ali Sapsford, tax partner; Dave Collis, tax partner
Connect Assist
Completion Date: 22/06/17 Target: Connect Assist Acquirer: Senior management team of Connect Assist Deal Value: Undisclosed
Details: The business services team of Transcend Corporate, led by partner Steve Bartlett, and assisted by executive Rajbir Turna, has advised the shareholders of Connect Assist on a fund raising and equity restructuring. Connect Assist is a provider of socially responsible inbound contact centre services, principally focused on the charity sector
Funding: RBS/Natwest Corporate Finance Advisers: Transcend Corporate Legal Advisers: Shoosmiths LLP Tax Advisers: Spencer Gardner Dickins
Livingstone Leisure
Completion Date: 12/06/17 Target: Lightwater Valley Attractions Acquirer: Livingstone Leisure Deal Value: Undisclosed
Details: Paris Smith acted for Livingstone Leisure in its acquisition of Lightwater Valley Attractions, an operator of a North Yorkshire theme park which hosts Europe’s longest roller coaster
Legal Advisers: For the company - Paris Smith (Richard Atcherley, Anna Robinson and Jo Spittles). For the vendor - Napthens
Financial Due Diligence: For the acquirer: Wilkins Kennedy (Mike Middleton and James Harper)
Sale of Intrinsys
Completion Date: 05/08/17 Target: Intrinsys Acquirer: Addnode Group Deal Value: Undisclosed
Details: Completion of sale of Milton Keynes engineering software and support services specialist Intrinsys to Addnode Group of Sweden
Corporate Finance Advisers: BCMS (Hugh Ashburner) Legal Advisers: EMW LLP
Investment in Knowledgemotion
Completion Date: 07/2017 Target: Knowledgemotion Deal Value: £3 million
Details: HMT LLP led by partner Andrew Thomson and Manager Tom Bradbury undertook financial due diligence for NVM Private Equity on its investment in online educational content provider Knowledgemotion (trading as boclips)
Funding: NVM Private Equity Legal Advisers: Shoosmiths Financial Due Diligence: HMT Commercial Due Diligence: CIL
Project Green
Completion Date: 10/07/17 Target: AED-SICAD AG Acquirer: Battery Ventures Deal Value: Undisclosed
Details: Battery Ventures acquisition of a new platform - AED based in Germany - in the Geographic Information Systems (GIS) sector
Financial Due Diligence: RSM UK: David Copley, partner; Peter Vandervelde, partner; Thorin Ward, associate director; Will Campbell, executive
Sale of Stirling Ackroyd
Completion Date: 07/17 Target: Stirling Ackroyd Acquirer: Nick Dunning Associates
Deal Value: Undisclosed
Details: Spectrum Corporate Finance has advised Stirling Ackroyd on the sale of the business to Nick Dunning Associates. Spectrum acted as lead adviser, completing a thorough marketing and sales process which attracted the attention of numerous buyers, before agreeing a sale to Nick Dunning Associates
Corporate Finance Advisers: Clive Hatchard (managing director) and James Mines (Director) – Spectrum Corporate Finance
Legal Advisers: Smithfield Partners (sell-side); DWF Law (buy-side)
Project Ruby
Completion Date: 06/07/17 Target: Rotronic AG Acquirer: Process Sensing Technologies Deal Value: Undisclosed
Details: RSM Corporate Finance provided financial and tax due diligence services to Battery on its acquisition of Rotronic AG, a Swiss-based global developer and manufacturer of humidity and temperature measurement solutions
Financial Due Diligence: RSM UK: David Copley, partner; Alex Milne, associate director; Alex Coaton, analyst. RSM Switzerland: Daniel Spitz, partner, head of tax
Project Noel
Completion Date: 10/07/17 Target: Elmbridge Tyre Services Acquirer: Micheldever Tyre Services Deal Value: Undisclosed
Details: RSM UK provided financial and tax due diligence in respect of Micheldever’s acquisition of a tyre service company based in Swadlincote
Financial Due Diligence: RSM UK: Nick Williams, partner; David Copley, partner; Dom Lowbridge, executive; Michelle Harris, partner, corporate tax; Liz Cruse, associate, corporate tax
Sale of two10degrees
Completion Date: 06/04/17 Target: two10degrees Acquirer: Nova Group Deal Value: Undisclosed
Details: The technology team at Transcend Corporate, led by partner Ian Aldridge and executive Rajbir Turna, has advised on the sale of two10degrees to Australian based international, Nova Group. two10degrees based in Ipswich offers state-of- the-art, lone worker management solutions through its Global Alerting Platform
Corporate Finance Advisers: Transcend Corporate Legal Advisers: Birketts LLP Tax Advisers: Spencer Gardner Dickins Financial Due Diligence: PwC LLP
Project Dragon
Completion Date: 01/08/17 Target: E4Law ‘Lextox’ Acquirer: SYNLAB Deal Value: Undisclosed
Details: SYNLAB, the leading provider of medical diagnostic services in Europe, has acquired Lextox Drugs and Alcohol Testing, based in Cardiff. RSM UK provided vendor due diligence services
Financial Due Diligence: RSM UK: Rebecca Guerin, partner; Maya Panova, associate director; Steve Jacob, tax partner; Raj Sangha, associate director
Next Deadline Monday, September 11 for the October 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
THE BUSINESS MAGAZINE – SEPTEMBER 2017
businessmag.co.uk 21
Project Clip
Completion Date: 07/07/17 Target: Clip Industrie Acquirer: Jeeves Information Systems AB Deal Value: Undisclosed
Details: RSM UK provided acquisition DD on ERP provider Clip Industrie based in France
Financial Due Diligence: RSM UK: David Copley, partner; Will Campbell, executive
Acquisition of Village Vet
Completion Date: 06/17 Target: Village Vet Acquirer: Linnaeus Group and Sovereign Capital
Deal Value: Undisclosed
Details: Spectrum Corporate Finance successfully advised Sovereign Capital and portfolio company Linnaeus Group on the acquisition of Village Vet and the associated debt raise to fund the purchase. This investment further consolidates the Group’s position as a leading veterinary services provider and makes it the fourth largest operator in the UK
Funding: Sovereign Capital & Alcentra
Corporate Finance Advisers: James Mines (director) – Buy- side lead advisory; Ian Milne (managing director) and Simon Sherliker (associate director) – debt advisory
Legal Advisers: Pinsent Masons (buy-side); Mishcon de Reya (sell-side)
Financial Due Diligence: Grant Thornton (buy-side); KPMG (VFDD) Commercial Due Diligence: CIL (VCDD)
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