Corporate finance deals 2014

Transcription

1 Corporate finance deals 2014

2 Corporate finance deals was an encouraging year for the deals market, with confidence slowly but surely returning. Whilst private equity continued to drive a number of deals, we have also seen an increase in mid-market transactional activity as well as more companies turning to the stock exchange as a source of investment. Whilst the UK s recovery has been driven primarily by the services sector, there has also been positive news over the past year from the construction and manufacturing sectors. The global economic resurgence and lower interest rates have all contributed to a healthier national picture and, with the uncertainty around the Scottish referendum now behind us, the business landscape for 2015 looks promising. With a general election on the horizon there s sure to be residual uncertainty but the general sentiment is one of cautious optimism for the year ahead. Gateley s Corporate and Banking & Finance teams experienced an increase in transactional activity during The upturn in the market enabled us to invest further in our teams and we made a number of new Corporate and Banking & Finance team hires. In addition, we helped our clients deliver on more than 250 significant deals, with a combined value in excess of 1.8 billion. Many of these are featured in this deal sheet. The volume of deals we advised on led to us once again dominating the Experian Corpfin M&A Advisor League Tables. In 2014 we ranked in the top three nationally and first place in the Midlands, whilst in the Yorkshire and Humber league table, our Leeds Corporate team featured in the top 10. This follows a successful first year for the team operating in the corporate market under the leadership of partner, Nick Emmerson. Further recognition for our regional teams came when we were awarded 2014 Law Firm of the Year by the Birmingham Law Society and Legal Team of the Year at the 2014 East Midlands Insider Dealmakers Dinner. We remain dedicated to delivering the highest quality services grounded in sound commercial judgment and an in-depth understanding of our clients' markets. Specialist knowledge delivered with passion by highly motivated people will continue to be the key to our success and client care remains at the core of everything we do. Our clients tell us that having Gateley on board as their legal adviser helps make a difference to the success of their business. To find out how we can help you succeed, contact any of the Corporate or Banking & Finance partners. Key deal highlights of 2014 include advising: LDC in connection with the 30 million acquisition of Prism UK Medical Limited HSBC Bank plc in connection with the 42 million MBO of Eley Limited, Eley Americas, Inc and Accles & Shelvoke Limited by LDC One51 Plastics Holdings Limited on the 10.7 million takeover of Straight Plc Lifetime Brands, Inc. on the acquisition of Thomas Plant (Birmingham) Limited, trading as KitchenCraft Lloyds Bank plc in connection with the 28 million MBO of Inspired Thinking Group by Bridgpoint Capital Limited Connection Capital LLP on its 10 million MBO of Impero Holdings Limited Inflexion Private Equity and other shareholders on the 42 million exit from Phlexglobal Holdings Limited DJI Holdings plc on its million IPO and admission to AIM LDC on the 45 million Secondary MBO of Metronet (UK) Limited backed by ISIS Equity Partners Gateley blogs Please visit our Corporate and Banking & Finance blogs. We cover a wide range of topics that we think will be of interest for anyone operating in the industries and sectors we service. From musings about the industry to more in-depth analysis of current issues that could impact on our clients and contacts or their businesses. We aim to source valuable information so our followers don t have to, providing a one-stop portal to a whole host of useful content. For the Banking & Finance team s blog visit For the Corporate team s blog visit Chambers UK 2015 They are very commercial animals. Technically skilled lawyers, but they also provide real-world advice. There s a real desire to get deals done.

3 January Sale of Cheselden Limited to Premex Group Acquisition of Thomas Plant (Birmingham) Limited by Lifetime Brands, Inc. Solicitors to the Investment in MiiCard Limited by Par Fund Management Limited and Scottish Enterprise. Solicitors to Par Fund Management Acquisition of SR Antenna Systems Limited by STS Defence Solicitors to the Joint venture between Litonics Limited, Clayton Engineering Limited and Iviti Lighting Solicitors to Clayton Engineering Acquisition of Sugarman Group Limited by Cordant Group PLC. MBO of Reader Offers Solicitors to the Buyer and Management. Acquisition of West Midlands Merchant Trading Company Limited by GE Robinson & Co Investment in Cloud4Health Limited by Par Fund Management Limited and Scottish Enterprise. Solicitors to Par Fund Management Academy conversion of John Paul II Multi- Academy. Solicitors to the Academy. Sale of Liberty Printers Group to Capita Justice and Secure Services Holdings Limited (a wholly-owned subsidiary of Capita Plc). Acquisition of Murray Estates Limited by Project Snowden Acquisition Solicitors to the Seller. Sale of Supply Point Systems Limited and Supply Point Systems Inc. to South Chester Tube Company. Solicitors to the UK and US February Admission of PiK notes of Stone Bidco Limited to the Official List of the Channel Islands Securities Exchange Authority Investment in Montello Income LP and the Montello Income Fund Exempt Unit Trust by the investor clients of Connection Capital LLP. Sale of shares of Taupo Consulting MBO of SPS (EU) Solicitors to Maven Capital Partners LLP. Joint venture with John Lewis Group in relation to the establishment and operation of the Jlab Technology Incubator. Solicitors to the joint venture partner, L Marks Investment in Dukosi Limited by Par Fund Management Limited and Scottish Enterprise. Solicitors to Par Fund Management Sohal Food Limited by Hyperama plc. Solicitors to the Sale of shares of Access Training (East Midlands) Acquisition of Philpotts (Holdings) Limited by Patisserie Valerie Solicitors to the Investment in Jumpstart (Scotland) Limited by Business Growth Fund PLC. Solicitors to the Investor. Sale of shares of Station Post Acquisition of Plester Holdings Limited by Tashmax Holdings Solicitors to the Investment in Sphere Technologies Limited by ESM Investments Limited and Scottish Enterprise. Solicitors to ESM Investments Sale of shares of A.B. Seals Solicitors to the Acquisition of the engineering business of Autoclimate Limited by Original Investment in Red Fox Media Limited by ESM Investments Limited and Scottish Enterprise. Solicitors to ESM Investments Arden Precision Limited (In Administration) by Nasmyth Group March Acquisition of Shotts Motor Auctions Limited by Manheim Auctions Solicitors to the Finance provided to Intelling Limited by Greater Manchester Loan Fund. Solicitors to the Funder. Acquisition of La Cafetiere (UK) Limited by Creative Tops Holdings Solicitors to the Buy-out of Team Holdings (UK) Solicitors to Team Medical Devices Acquisition of KWH Consulting Limited by Inspired Energy Plc. Refinance of Trust Inns Limited by Macquarie Bank Acquisition of Simply Business Energy Limited by Inspired Energy PLC. Solicitors to the Finance provided to Coventry & Warwickshire Development Partnership LLP by Roxhill (Coventry) Limited and CWDP Investment Solicitors to Roxhill (Coventry) Investment in Ensco 502 Limited by the investor clients of Connection Capital LLP. MBO of Advanced Insulation PLC. Solicitors to the Bank, Santander UK plc. Investment in Praetura Asset Finance MBO of Inspired Thinking Group. Solicitors to the Bank, Lloyds Bank plc. Exit from its investment in Trendy Celt Edinburgh Limited by the investor clients of Connection Capital LLP. Solicitors to Connection Capital LLP. MBO of SDI Displays. Chambers UK 2015 The team provides an excellent timely service that is always professional, friendly and expert. April Demerger of the Hoar Cross Hall Hotel and Eden Hall Day Spa businesses. Solicitors to Barons Holdings Spas and Resorts Acquisition of Secura Hosting Limited by Ensco 1032 Academy conversion of Cottesbrooke Infant and Nursery School. Solicitors to the Academy. Old Pond Publishing Limited by 5M Enterprises Placing of new shares by Real Estate Investors PLC. Acquisition of the maintenance business of Swan Generators Limited by Dale Power Solutions Investment by Lloyds Development Capital (Holdings) Limited and the acquisition of Prism UK Medical Solicitors to the Investor and the Acquisition of Laver Holidays Limited by Skills Motor Coaches Acquisition of Aitch Care Homes (London) Limited by KTN Nostromo Solicitors to the Investment in Gateco Limited by Foresight Nottingham Fund LP and acquisition by Gateco Limited of Ryanbridge Limited and Crowle Wharf Engineers Solicitors to the Investor and Gateco. Acquisition of Bglobal PLC by Energy Assets Group Plc. Investment in Dudson (Holdings) Limited by Business Growth Fund PLC. Solicitors to the Investor.

4 May Acquisition of InTouch Management Communications Limited by Expolink Europe Reorganisation of Prestige Motor Care Hember Limited by Telappliant Investment in Impero International Limited by the investor clients of Connection Capital LLP. Acquisition of Auto Sport Engineering Limited by Ensco 1053 Investment in My1Login Limited by Par Fund Management Limited, Scottish Enterprise, Equity Gap, Tricap and others. Solicitors to Par Fund Management Acquisition of Cammak Limited by Kinaxia Increase and extension by St Modwen Properties PLC of facilities with Santander UK plc. Solicitors to the Borrower. Acquisition of Kelros Limited by Life IT Refinance of existing facility by Forest Garden Group Limited and its subsidiaries. Solicitors to the Funders, The Royal Bank of Scotland plc and RBS Invoice Finance Acquisition of Relcom Communications Acquisition of Kelso and Lothian Harvesters Limited by Scot JCB (Holdings) Finance provided to Bridgnorth Aluminium Solicitors to the Funders, Lloyds Bank Commercial Banking and Lloyds Bank Commercial Finance. Acquisition of Castle Group Holdings Limited by Connexion Microwave Technologies MBO of Intelligent Office UK Limited funded by YFM Equity Partners. Acquisition of Nuclear Engineering Group Limited by Ansaldo Energia Group. Solicitors to one of the Investment in Mobile Acuity Limited by ESM Investments Limited, Scottish Enterprise and others. Solicitors to ESM Investments Sale of DPE Holdings Limited by United Steels Chambers UK 2015 They don t just point out a problem, they give you a solution. June Admission to AIM of Biofrontera AG. Solicitors to finncap Investment in Beechbrook Mezzanine II LP by the investor clients of Connection Capital LLP. Acquisition of the Mills CNC Group by Ensco 1066 Solicitors to the Buyer and Management. Investment by individual private investors in Snizl Secondary MBO by ISIS Capital Partners of Ensco 904 Limited and Metronet (UK) Solicitors to Lloyds Development Capital (Holdings) Limited and the Management. Investment in DN Capital Global Venture Capital III LP by the investor clients of Connection Capital LLP. Solicitors to Connection Capital LLP. Sale of Ludgate Business Finance Limited to Magricott Investment in Hallmark Investments Limited by BY Development Solicitors to the Company. Investment by Palatine Private Equity LLP in EPI Solicitors to Palatine Private Equity LLP. July MBO/MBI of Peakdale Molecular Limited, and Scientific Analysis Laboratories Limited by Concept Life Sciences. Solicitors to the senior management of Concept Life Sciences. Investment in Objective Associates Limited by ESM Investments Limited and Scottish Enterprise. Solicitors to ESM Investments Acquisition of Strandhall Management Limited by Incorporate Travel Management IPO and admission to AIM of DJI Holdings plc. Acquisition of Suominen Corporation by Bright Maze Oy. Solicitors to Souter Investments Academy conversion of Our Lady of Lourdes Catholic Multi-Academy Company. Solicitors to the Academy. Sale of Wheyfeed Holdings Limited to BOCM Pauls Acquisition of Preformed Windings Limited by CBC Electric Machines Group Finance provided to motoring.co.uk Limited by Greater Manchester Loan Fund. Solicitors to the Funder. Acquisition of Gioteck GmbH by Nordic Game Supply A/S. Investment in Oxford United Football Club Limited by Alycidon Technologies Solicitors to the Investor. Acquisition and refinance of the Homebuy Group. Solicitors to Seneca Capital No 1 LP and Intrinsic Equity Investment in NHSC (Scotland) Limited by Pertemps Network Group. Solicitors to the Investor. Refinance of Key Property Investments Limited by Lloyds Banking Group, Santander UK plc and The Royal Bank of Scotland plc. Solicitors to the Company. Legal Gateley s service is always partnerled and always demonstrates quality in depth. Acquisition of Haydon Marketing Limited by PDMN Security Solicitors to the Newco. Investment in ProFactor Pharma Limited by Kelvin Capital and Scottish Enterprise. Solus Garden & Leisure Limited (In Administration) by Scotts Company (UK) Investment in DestiNA Geomics Limited by Vitro SA, Old College Capital LP and Scottish Enterprise. Acquisition of Phlexglobal Holdings Limited by Bridgepoint Advisers II Solicitors to the Refinance of St Modwen Properties PLC by Santander UK plc. August Sale of Guardsman Limited to Bunzl PLC. GA Europe Valuation Limited by Ensco 1078 Acquisition by scheme of arrangement of Straight PLC by One51 Plastics Holdings Acquisition of Palmer Pest Control Limited by Tennals Group Acquisition of Shering Weighing Limited by Precia-Molen UK Solicitors to the Acquisition of shares in Toriga Limited by Travis Perkins plc. Acquisition of Thistle Hill Day Care Nursery Limited by KT Childcare Solicitors to the

5 Further investment by existing shareholders in Mobile Gaming Studios Solicitors to the Company. Acquisition of part of the issued share capital of Eurocom Holdings Limited by Zycomm Holdings Investment by individual private investors in Henvill Acquisition of the Lincrusta business and assets of CWV Limited by Heritage Wallcoverings Acquisition of the consumer business and assets of CWV Limited by Duchy Newco Sale of Energy Solutions Topco Limited by Bridgepoint Development Capital and PHD Equity Partners. Solicitors to the Management. Acquisition of Freedom Finance Holdings Limited and JZI Finance 4 Limited by Freedom Acquisitions Acquisition of Kestros Limited by Craneware Investment in Kiltr Limited by Par Fund Management Limited and Scottish Enterprise. Solicitors to Par Fund Management Acquisition of Dick Brothers Limited and Dick Contracting Limited by Geary Acquisition of E.C.T. Language School September Acquisition of Medalin Limited by Pretty Legs Holdings MBO of Ramsdens Financial Reorganisation of the Vectric Limited Group. Solicitors to the Group. Investment in Eyelynx Limited by Zaun Solicitors to the Investor. Investment in Redeem Holdings Limited by the investor clients of Connection Capital LLP and Praesidian Capital Europe Master LP. Acquisition of SPHE Limited by SPHE Holdings Incorporation of Hilton Garage Investment into RICO Developments Limited by ESM Investments Limited and Scottish Enterprise. Solicitors to ESM Investments Investment in Starcount PTE Additional finance provided to Allmid Solicitors to the Bank, HSBC Bank plc. Sale of South Coast Catering Limited to Airedale Catering Solicitors to the Seller. Intra-group reorganisation of RSL Steeper Group. Solicitors to the Group. October Acquisition of Eley Limited, Eley Americas, Inc and Accles & Shelvoke Limited by Ingleby (1963) Solicitors to the Bank, HSBC Bank plc. Acquisition of the Hymans Robertson Employee Benefits Communication Department by Like Minds (UK) Acquisition of United Automotive Interiors Limited by LH Supply Chain Solicitors to the Seller. Acquisition of part of the share capital of Symbiotics Limited by Resource Group Acquisition of Kerry & Broughton Limited by MBEX Acquisition of The Grange Nursery by Child s Time Investment in Roxhill Developments Group Limited by FRXL Co-Investment 2 LP. Solicitors to the Company. Reorganisation of Lockwood Group and subsequent MBO. Acquisition of Best Vending Limited by Arrowvend Sale of the entire share capital of Zoltan Engineering Company Solicitors to the Sale of the entire share capital of South Coast Catering Limited and Titan Catering Equipment and Services Limited to Airedale Catering Equipment Group Solicitors to the Acquisition of W J Holdings Limited and its subsidiaries. November MBO of Hoar Cross Hall Hotel and Eden Hall Day Spa. Solicitors to the Buyers. Further investment by LDC in Power Industrial Group Solicitors to the Company. Sale of the entire share capital of Just Childcare Limited to Project Play Bidco Limited and an investment by Phoenix Private Equity. Sale of the business and assets of Audio Club. MBO of the Business Collaborator business from Unit4 Business Software Revolving Credit Facility from The Royal Bank of Scotland plc to Eric Wright Group Solicitors to the Borrower, Eric Wright Group December Sale of Altitude Access Limited to AFI Uplift Investment in Exco Intouch Ltd by Scottish Equity Partners LLP and Albion Ventures LLP. Debt and equity restructuring of Hillbridge Investments Limited and its subsidiaries. Sale of Eclipse Code Limited and Insoll Components Limited to Röchling Engineering Plastics (UK) Investment in 17 Capital Funds 3 LP by the investor clients of Connection Capital LLP. Loan from HSBC Bank plc to Hortons Estates Sale of shares in TMAT Limited to the Blackford Group. Legal Gets the job done without fussing and its advice is tailored to requirements. Sale of Medical Imaging UK Ltd and MIDRSS Limited to EMIS Group plc. Solicitors to the Sale of the share capital of Norvic Aero Engines Secondary MBO of Character World Group of Companies (exit by RJD Private Equity and investment by Palatine Private Equity). Solicitors to the Investor. Purchase out of administration as a pre-pack business and assets of AirSOUND Technologies Limited and Airsound LLP. Group reorganisation of Coventry Chemicals Ltd. Sale of entire share capital of The Four D Rubber Company Limited to Isotek Rubber Acquisition of the entire share capital of The Mobility Equipment Company Limited by Prism UK Medical Purchase of own shares by Streason

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