deals update
LATEST DEALS DATA FROM ACROSS
THE REGION Disposal of Key2Futures
Completion Date: 10/2017 Target: Key2Futures
Acquirer: Horizon Care and Education Group Deal Value: Undisclosed
Details: HMT LLP, led by partner Ian Barton and with tax advice from Holly Bedford-Bell, has advised the shareholders of specialist care and support business Key2 Futures on the disposal of the business to Horizon Care and Education Group
Funding: Edge Investments Financial Due Diligence: HMT Legal Advisers: Pitmans Law
Acquisition of Xtrac Transmissions
Completion Date: 16/10/17 Target: Xtrac Transmissions (Holdings) Acquirer: Inflexion Private Equity
Deal Value: Undisclosed
Details: Acquisition by Inflexion Private Equity of Xtrac, a world leader in the design and manufacture of high-performance transmissions for the motorsport and automotive industry
Legal Advisers: Boyes Turner LLP (Robert Rice and Sophie Payne) – advisers to management in connection with its investment in the acquisition vehicle
Corporate Finance Advisers: Cavendish Corporate Finance Sale of Haworth Romsey
Completion Date: 31/10/17 Target: Haworth Romsey Acquirer: Romans Group Deal Value: Undisclosed
Details: Paris Smith acted for the shareholders of Penyards Property Management Holdings in the sale of the lettings company to Romans Group. The deal involved a pre-sale reorganisation in which the sales and estate management side of the business were separated from the lettings portfolio
Corporate Finance Advisers: McIntyre Hudson
Legal Advisers: Paris Smith (Richard Atcherley and Arezou Rezai) for the sellers. Dean Wilson for the buyer
Project Phoenix
Completion Date: 13/11/17 Target: Phoenix 2 (Cumbria) 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 operating depots in Carlisle and Workington
Legal Advisers: Irwin Mitchell
Financial Due Diligence: RSM: Nick Williams, partner; David Copley, partner; Dominic Westcott-White, associate; Michelle Harris, partner, corporate tax; Liz Cruse, associate, corporate tax
Investment in TRX by Edge Sale of LFO Properties
Completion Date: 02/11/17 Target: LFO Properties Acquirer: Taylor Wimpey UK Deal Value: £10 million plus
Details: LFO Properties owned a large piece of real estate in Wandsworth with significant development value and planning permissions in place. It was acquired by Taylor Wimpey with a large overage and earn-out payments contingent upon development and build out. Paris Smith (Jonathan Roy and Jo Spittles) acted for the sellers of the company
Corporate Finance Advisers: McIntyre Hudson
Legal Advisers: Paris Smith (Jonathan Roy and Jo Spittles) acted for the sellers of the target. Osborne Clarke for Taylor Wimpey
Sale of ICE InsureTech, part of Hubio Technologies
Completion Date: 11/17 Target: ICE InsureTech Acquirer: Acturis Group
Deal Value: Undisclosed
Details: Spectrum Corporate Finance successfully advised the shareholders of Hubio Technologies, part of Watchstone Group, on the disposal of ICE InsureTech, to Acturis Group
Corporate Finance Advisers: Spectrum Corporate Finance Simon Davies (managing director) and James Mines (director) – lead advisory to the shareholders at Hubio Technologies
Legal Advisers: Legal advice to Hubio Technologies: Mark Taylor and Ronan Burke, Dorsey & Whitney
Financial Due Diligence: HMT LLP Sale of Bridge Fire and Security
Completion Date: 01/11/17 Target: Bridge Fire and Security Acquirer: Thomas Wood Holdings Deal Value: Undisclosed
Details: Disposal of a majority shareholding (95%) in the target, to a company connected with the managing director of the target. The consideration was a mixture of cash and loan notes
Legal Advisers: IBB Solicitors (seller); Curzon Green (buyer) Sale of Tructyre Fleet Management
Completion Date: 10/17 Target: Tructyre Fleet Management Acquirer: Michelin Group
Deal Value: Undisclosed
Details: Spectrum Corporate Finance and Moore Blatch have successfully advised the shareholders of Tructrye, the well-known truck tyre supplier and service provider with 26 service centres across the UK, on the strategic sale to Michelin
Funding: Natwest: Chris Ray – previous funders to Tructyre
Corporate Finance Advisers: Spectrum Corporate Finance: Darren Miller – lead advisory to the shareholders at Tructyre
Legal Advisers: Moore Blatch: Roger Bailey and Kirsty Bowyer – legal advice to shareholders at Tructyre Financial Due Diligence: Deloitte
Completion Date: 10/2017 Target: Dial Square 86 Deal Value: £2 million
Details: HMT LLP, led by partner Paul Read and manager Tom Bradbury undertook financial due diligence for Edge on its investment in Dial Square 86, the holding company for online TV rights licensing platform The RightsXchange
Funding: Edge Investments Financial Due Diligence: HMT Commercial Due Diligence: CIL
Project Graduation
Completion Date: 27/10/17 Target: Class Tours Acquirer: RJD Partners Deal Value: Undisclosed
Details: RSM UK provided financial, tax and IT due diligence on RJD Partners acquisition of Class Tours, a Hove-based provider of immersive language programmes and educational tours to UK schools
Financial Due Diligence: RSM: Peter Vandervelde, partner; Alex Milne, associate director; Jo Slade, associate; Michelle Harris, partner, corporate tax; Neil Favager, associate director, technology advisory
Sale of Arts Alliance Media
Completion Date: 11/17 Target: Arts Alliance Media Acquirer: Luxin-Rio
Deal Value: Undisclosed
Details: Spectrum Corporate Finance has successfully advised the shareholders of Arts Alliance Media (AAM), the world’s leading operational software solution provider to the cinema industry, on the sale of the company to technology solutions provider, Shandong Luxin-Rio Visual Technology Co (Luxin-Rio) of Qingdao, China
Corporate Finance Advisers: Spectrum Corporate Finance Simon Davies (managing director) and Richard Boyden (senior manager) – lead advisory to the shareholders at Art Alliance Media in this complex global full sales process
Legal Advisers: Dorsey and Whitney LLP (sell-side); Dentons (buy-side)
Financial Due Diligence: Deloitte
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businessmag.co.uk
THE BUSINESS MAGAZINE – DECEMBER 2017
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