deals update
LATEST DEALS DATA FROM ACROSS
THE REGION ONFAB
Completion Date: 12/09/17 Target: ONFAB Acquirer: Foresight Group (private equity) Deal Value: £3 million
Details: Foresight Group has invested £3m into ONFAB, a leading designer and manufacturer of flexible containment solutions, primarily for use in pharmaceutical manufacturing processes
Funding: RBS
Corporate Finance Advisers: BCMS (ONFAB); Rafalie Corporate Finance (Foresight)
Legal Advisers: Butcher & Barlow (ONFAB); RW Blears (Foresight) Commercial Due Diligence: PMSI
Sale of Elvis Communications
Completion Date: 14/09/17 Target: Elvis Communications Acquirer: The Next 15 Group Deal Value: Undisclosed
Details: Southampton firm Paris Smith LLP have completed the third London-based disposal for US private equity (Mill Road Capital LLC) backed EDC Communications in less than six months. Following the sale of brand strategy and design agency Identica to Writtle in March 2017, and the sale of EDC’s shareholding in creative agency Mr President Partnership, Elvis was purchased by the listed Next 15 group, and joins a portfolio of 18 agencies
Corporate Finance Advisers: BDO LLP Legal Advisers: Paris Smith (Jonathon Roy) for the sellers. Lewis Silkin for the buyers Financial Due Diligence: Kingston Smith LLP
Project Thames
Completion Date: 09/17 Target: Triple Red Acquirer: Edstrom Industries LLC Deal Value: Undisclosed
Details: Financial and tax due diligence on Triple Red for Shoreview portfolio company Edstrom Industries LLC Legal Advisers: Sidley Austin
Financial Due Diligence: RSM UK: David Copley, partner; Ed Hooper, associate director; Dan Manton, manager
Investment in ADC Biotechnology
Completion Date: 09/2017 Target: ADC Biotechnology Deal Value: Undisclosed
Details: HMT LLP, led by partner Paul Read advised Maven Capital Partners on its investment in anti-cancer drugs manufacturer ADC Biotechnology
Funding: Maven Capital Partners Financial Due Diligence: HMT
FMP Global acquires MCN Associates
Completion Date: 09/2017 Target: MCN Associates Acquirer: FMP Global Deal Value: Undisclosed
Details: HMT LLP, led by partner Andrew Thomson and associate director Ricky Lane undertook financial due diligence for Tenzing Private Equity’s portfolio company FMP Global on its acquisition of international HR consultancy firm MCN Associates
Funding: Tenzing Private Equity Financial Due Diligence: HMT
Sale of and investment in H Scientific Asset purchase
Target: CA Support Services Acquirer: Busy Bee Cleaning Services Deal Value: £243k
Details: The acquisition of the business and asset of target as a going concern
Legal Advisers: B P Collins (acting for buyer) and Huggins & Lewis Foskett Solicitors (acting for seller)
Completion Date: 22/09/17 Target: H Scientific Acquirer: Sonardyne International Deal Value: Undisclosed
Details: The target company is in the marine engineering sector, and the deal included a partial sale of shares, put and call options for future share sales and equity investment in the company by Sonardyne International
Legal Advisers: Paris Smith (Jonathon Roy and Arezou Rezai) for the sellers. Stevens & Bolton for the buyers
Financial Due Diligence: Kingston Smith LLP Project Trumpton
Completion Date: 09/17 Target: Miller & Co (Insurance Brokers) Acquirer: Finch Commercial Insurance Brokers Deal Value: Undisclosed
Details: Financial due diligence in respect of Finch Commercial Insurance Brokers’ acquisition of Miller & Co (Insurance Brokers)
Financial Due Diligence: RSM UK: Peter Vandervelde, partner; Philip Rossiter, director
Project Iceberg2
Completion Date: 09/17 Target: Gentoo Holdings Acquirer: TMF Group BV Deal Value: Undisclosed
Details: Financial due diligence in respect of TMF Group’s acquisition of Gentoo
Financial Due Diligence: RSM UK: Peter Vandervelde, partner; Philip Rossiter, director
Project Breeze
Completion Date: 29/09/17 Target: Chestergate Financial Planning Acquirer: Lawsco Holdings
Deal Value: Undisclosed
Details: Clarke Willmott LLP acted on behalf of the sellers in connection with their sale of the entire issued share capital in Chestergate Financial Planning, a financial advisory business based in Salisbury
Legal Advisers: Clarke Willmott for the sellers. Progeny Corporate Law for the acquirer
Acquisition of Belcom247 by Indigo Telecom
Completion Date: 09/2017 Target: Belcom247 Acquirer: Indigo Telecom Group Deal Value: Undisclosed
Details: HMT LLP, led by partner Paul Read, manager Tom Bradbury and senior manager Ravi Majithia provided buyside advisory services to Indigo Telecom Group on the acquisition of Belcom247
Funding: Maven Capital Partners and YFM Equity Partners Buyside Advisers and Modelling: HMT Legal Advisers: Mills & Reeve Financial Due Diligence: HMT
RT Motion Systems
Completion Date: 25/09/17 Target: RT Motion Systems Acquirer: The Vitec Group plc Deal Value: £3.4 million
Details: The VITEC Group acquired UK film camera equipment manufacturer RT Motion Systems in a transaction worth up to £3.4m, dependent on reaching integration and retention targets
Corporate Finance Advisers: BCMS (Mark Lucas) Legal Advisers: Continuum LLP (Andrew Ward)
Project Polaris
Completion Date: 09/17 Target: Latitude Geographics Group Acquirer: Battery Management Corporation Deal Value: Undisclosed
Details: Financial and tax diligence on Canada-based target Latitude Geographics. This is a follow-on deal to the platform acquisition, AED-SICAD in Germany
Financial Due Diligence: RSM UK: David Copley, partner ; Thorin Ward, associate director; Michael Wang, manager
Project Amber
Completion Date: 14/09/17 Target: Ambant Acquirer: Davies Group
Deal Value: Undisclosed
Details: Clarke Willmott LLP advised the sellers on the disposal of Ambant. Ambant is a specialist insurance provider of professional services to the Lloyd’s, London and International Insurance Markets. The sellers joined and became shareholders in Davies Group as part of the deal. Kelvin Balmont of Clarke Willmott led the transaction
Corporate Finance Advisers: Resolution Partners, London
Legal Advisers: Clarke Willmott – advisers to the sellers. Kirkland & Ellis LLP – advisers to the buyer Financial Due Diligence: Grant Thornton UK LLP Commercial Due Diligence: Kirkland & Ellis LLP
22
businessmag.co.uk
THE BUSINESS MAGAZINE – NOVEMBER 2017
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68
