Sector Focus


Firm advises on coffee chain sale


Midlands-based Smith Cooper Corporate Finance has played a major role in a multi-million franchise sale. The firm was lead adviser


on a deal by Goldex Investments Limited to sell 14 of its 60 Costa Coffee stores to AM Coffee Holdings Ltd. The stores were all owned


by subsidiary, Goldex (Surrey) and operate stores in shopping centres and high- streets in the Surrey area. The team at Smith Cooper


Corporate Finance was John Farnsworth and David Crump, who have specialist experience in the franchise and food and beverage sectors. Mr Farnsworth (pictured)


said: “David and I are delighted to have had the opportunity to secure the sale of this Surrey business on behalf of Diljit and Satnam, whom we have known and held in high regard for many years. “The transaction reflects the


quality of the business which they built up, and at an exemplary pace.” Goldex Investments Limited,


which also operates the Kaspas desserts brand as well as Costas, is owned by Diljit and Satnam Brar. Diljit Brar said: “I’ve known


John and David of Smith Cooper Corporate Finance for years and, being well-known for their expertise in this field, appointing them to this important transaction was a natural choice.” David Crump said: “Ajaz and


Ahsan are highly experienced buyers and intend to develop the Costa brand; we wish them every success with that.” AM Coffee Holdings Ltd is


owned by Ajaz Mirza and Ahsan Munir. Ahsan Munir said: “This deal


marks our entry into the highly-coveted Costa brand with a significant number of well-run stores built up by one of the most experienced operators in the sector. “We intend to take up


where Diljit left off by growing the sales of the existing portfolio and, in due course, developing new stores.”


Finance Sector Focus The latest news from the sectors that matter to business


Two West Midlands cities among fastest improving


Birmingham and Coventry are among the fastest improving cities in UK, according to a new report by accountancy giant PwC. The firm’s latest ‘Good Growth


for Cities’ – which rates cities on various economic performance and quality of life factors – has revealed that Birmingham is the fifth highest performing city in UK, and Coventry the eighth. The two cities are doing well by


attracting new businesses, and various other factors, including health, environment and income distribution. On the downside is worsening


housing affordability, a factor affecting all Midlands cities. Birmingham also suffers from a below average rating for house price to earnings. The ‘Good Growth for Cities’ index


measures the performance of 42 of the UK’s largest cities, England’s Local Enterprise Partnerships and the nine combined authorities, against a basket of ten indicators based on the views of the public on what is key to economic success and wellbeing. These include employment,


health, income and skills – the most important factors, as judged by the public – while housing affordability, commuting times, environmental factors and income inequality are also included, as is the number of new business starts.


Matt Hammond:


Region’s attracting new businesses


The latest Index analyses a


decade of economic and social data to determine what long-term factors drive ‘Good Growth’, during which Birmingham increased its index score by 0.33 since the 2005- 7 index, compared to an average increase of 0.29 for all cities. This has primarily been driven by


an improvement in skills among 25- 64 year olds and a strong improvement in new businesses, which is helping to drive increases in jobs and income. PwC Midlands region chairman


“We have seen a decade of


continued improvement, above the national average, at a time of significant investment in the region. “The collaborative approach


across the private, public and education sectors has been key, and remains so, to ensuring that the potential of the young population of this region is given opportunity to work in attractive businesses across the Midlands. “Continuing to attract UK


business investment, foreign capital and investment is vital if the Midlands is to make a difference to the next generation and those to come.”


Funding helps with expansion plans


A West Midlands-based banqueting suite has expanded its Smethwick premises following further funding from Barclays. The Prestige Suite, based on Downing Street in


Smethwick, secured additional funding to expand its site, meaning the venue can now seat up to 900 people for events. Director Ram Suglani said: “Since we opened in 2013,


the business has gone from strength to strength. “It became apparent that there was a demand for


larger parties/weddings, particularly Asian weddings, and therefore we took steps to expand our current site. “We were fortunate enough to be chosen as the Best


Banquet Centre 2017 at The British Asian Wedding Awards in London and also at the Midlands Asian Wedding Awards and we are keen to build on this success by now being able to cater for even larger events.”


60 CHAMBERLINK December 2018/January 2019


New funding (from left): Mohammed Fiaz with owners Ram and Gurdial Suglani


Matthew Hammond said: “The growth story for the West Midlands is compelling given the attractiveness of the region nationally and globally. “I’m delighted to see


Birmingham and Coventry recognised amongst the fastest improving and highest performing UK cities across a range of measures, including jobs, income, skills and health scores driven by a growth in new businesses.


‘We have seen a decade of continued improvement’


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