Please click to visit ourDeals 2006
December 2006
Micheldever Tyre Services Ltd/Graphite
HW Corporate Finance South East provides transaction support for Micheldever Tyre Services and Graphite Capital on the acquisition of Cambridge Tyres.
Micheldever Tyre Services Ltd/Graphite
HW Corporate Finance South East provides transaction support for Micheldever Tyre Services and Graphite Capital on the acquisition of Stortford Performance Tyres.
Tefen
HW Corporate Finance South East advised Tefen, an Israeli quoted management consultancy business on the acquisition of Erskine Management, a UK based management consultancy company.
Tefen
HW Corporate Finance South East advised Tefen, an Israeli quoted management consultancy business on the acquisition of Severn Group Plc.
Strategic Alliance of the Royal Welsh College of Music and Drama with University of Glamorgan
HW Corporate Finance, South West, have recently acted as lead advisers and project managers in implementing a strategic alliance between the Royal Welsh College of Music and Drama with the University of Glamorgan.
The alliance involved the transfer of the college’s assets and activities to a wholly owned subsidiary of the university. This was supported by almost £13m of investment funding from the Welsh Assembly Government – which will be used substantially to improve performance and rehearsal facilities for the music and drama conservatoire.
Jane Davidson, Minister for Education, Lifelong Learning and Skills, commented “This is good news for students and staff alike and is good news for the Welsh sector as a whole demonstrating my full commitment to the collaboration agenda."
Professor David Halton, Vice-Chancellor of the University of Glamorgan said: “I am delighted that we have been able to bring this exciting initiative to fruition so quickly. This partnership will enable us to share our knowledge, expertise and facilities for the benefit of all students.”
The partnership of the two institutions will also benefit from the University of Glamorgan’s new Cardiff School of Creative & Cultural Industries, which HW Corporate Finance helped raised the finance for in 2006.
Our work was lead by Adrian Godfrey, Partner, and John Theophilus, Director at HW Corporate Finance South West.
Acquisition of howies by Timberland
HW Corporate Finance South West has recently advised howies, an environmentally conscious clothing designer and retailer, on their successful acquisition by US footwear giant, Timberland.
The company, which manufactures clothing from ethically sourced high quality materials, has become a favourite for mountain bikers and skateboarders across the UK. The completed deal, lead by Chris Burgess, Director, HW Corporate Finance South West, will help enable howies to facilitate their expansion plans. Co-founder, David Hiett commented, “The deal with Timberland will allow us to grow further while maintaining all of our standards and values.”
Jeffrey Swartz, President and CEO of Timberland, said: “We are excited and inspired by the brand potential we see in howies and are pleased to welcome them to the Timberland family. We look to invest in like-minded brands that are focused on innovation, authenticity and integrity, and howies encompasses all of these core values.”
Lumenglow Limited
HW Corporate Finance in Manchester provided due diligence support to Worthington Nicholls Group Plc on its second post IPO acquisition of London based electrical contractors, Lumenglow.
Sale of Access Homecare Limited to Care UK PLC
HW Corporate Finance in Manchester has successfully completed the sale of Access Homecare Limited to Care UK PLC. Access Homecare Limited is a provider of domiciliary home care for people in need of support in order to maintain an independent life. The company provides in excess of 7,000 hours of care each week.
Care UK PLC is listed on the London Stock Exchange and is valued in excess of £300m. Sean Moriarty of HW Corporate Finance commented ‘We worked with Access for 12 months prior to the sale and all the planning and hard work paid off as we achieved a sale within one day of the original timetable at a price well in excess of expectations.’
November 2006
Plus SMS Holdings
HW Corporate Finance South East advised on the investment in Plus SMS Holdings by Hewon Capital.
Compressor Products International
HW Corporate Finance South East provided financial due diligence for the acquisition of Robix, a specialist plastics moulding company by CPI Ltd, a compressor products manufacturer operating in the Oil and Gas industry.
Pi Capital Ltd
HW Corporate Finance South East provided financial due diligence for their investment in the Medispa clinic, a surgical and non-surgical cosmetic treatment provider by Pi Capital Ltd, a London based venture capitalist.
CD Jordan & Son Ltd
HW Corporate Finance South East advised on the disposal of CD Jordan & Son Ltd, a UK based metals recycling company to European Metal Recycling Ltd for an undisclosed consideration.
Sale of Treforest Glass to Business Angel
HW Corporate Finance South West has recently completed the sale of Treforest Glass to business angel, Peter Zehetmayr, in a six-figure deal. The Company is one of South Wales’ oldest and best-known glazing companies and supplies glass products and glazing services with a large commercial, public sector and domestic customer base.
Treforest Glass’ directors – Mr & Mrs Alderman, now retired, sought advice on the sale of the company from specialist advisers HW Corporate Finance South West. Given its established nature, scope for development and the experience of its operational team, HW Corporate Finance believed the company would attract a private investor and contacted Xenos the Wales business angel network, which introduced Mr Zehetmayr.
Chris Burgess, director of HW Corporate Finance and lead adviser on the deal, said “Retirement sales need to be planned carefully; after discussions with the owners and assessing both the company and the market, we recommended the xenos path which has produced a satisfactory conclusion all round.”
The investor, Peter Zehetmayr, whose other business interests include care homes, a digital camera maker and signage specialists, said “I have to congratulate xenos for offering this opportunity to their investor network and HW Corporate Finance for having the perception to suggest such a channel. All my investigations suggested it was what I was looking for.”
Sheffield Trainers Limited
HW Corporate Finance in Manchester provided due diligence support and structural advice to Sovereign Capital on it’s buy-out of STL, a leading regional provider of apprenticeship and adult learning. The company provides apprenticeship training to help young people aged 16+ wishing to pursue work-based learning.
October 2006
World Challenge Expeditions Limited
HW Corporate Finance in Manchester provided due diligence support and structural advice to Barclays Bank Leveraged Finance on the management buy-out of World Challenge, a company which arranges outdoor education and UK-based and overseas expeditions for schools and students.
SnG Technologies secures £1.0m funding package
HW Corporate Finance in Manchester advised SnG on the raising of £1.0m from the North West Equity Fund and the North West Business Investment Scheme. SnG is a developer of software for mobile telephones. Its first product will help consumers to purchase content such as music, ringtones, games and other applications. Whilst SnG currently does not have any customers it is undertaking trials with a major global player in the mobile market. Sean Moriarty of HW Corporate Finance commented, “raising such a large sum of money for a relatively young company is never easy. We really believed in the management team and their product and are delighted to have secured the funds. We are very confident that SnG will be hugely successful.”
September 2006
PRG
HW Corporate Finance South East advised the bidding company on the £133m Public to Private of this New Zealand based retail and finance company.
Bendon
HW Corporate Finance South East advised on the $50m refinancing of Bendon, a New Zealand based retail, manufacturing and brand management company.
ISSM
HW Corporate Finance South East were appointed reporting accountants for the proposed AiM listing of ISSM, a Hong Kong based computer consumables company.
Claydon Group Holdings
HW Corporate Finance South East advised on this disposal of the regional construction company turning over c.£25 million to a private investors group.
August 2006
Project Air Limited
HW Corporate Finance in Manchester provided due diligence support to Worthington Nicholls Group Plc on its first post IPO acquisition of Project Air, a company which provides installation and maintenance of air conditioning products.
INS Sudlows Limited
HW Corporate Finance in Manchester provided due diligence & structuring advice to The Co-operative Bank plc for its lending to INS Sudlows Limited, a company based in Salford which is a UK leading specialist in the design, installation and maintenance of structured voice and data cabling systems. The company provides systems in the health, education, commercial, industrial and government sectors.
Lead Advisor on the sale of Pressmain (Pressurisation) Company Limited to Aquatronic Group Management PLC
HW Corporate Finance has successfully completed the sale of Pressmain (Pressurisation) Company Ltd, a specialist in the design and manufacture of pressurization and booster equipment, to AGM PLC, a holding company whose subsidiaries are involved in the installation and maintenance of pressurization units and water boosters.
The acquisition by AGM PLC reflects their strategy to expand the group’s operations by acquiring new companies that compliment the existing range of services and products. Lead advisor on the sale, Sean Moriarty, Managing Partner at HW Corporate Finance in Manchester, commented “Pressmain is a high quality business and we are delighted to have played a leading role in advising on the sale to Aquatronic Group. Yet again we have negotiated an excellent deal for the Vendor and maintained the price agreed throughout the process”
Simply Fresh Foods Limited
HW Corporate Finance in Manchester provided due diligence & structuring advice to Lloyds for its lending to Simply Fresh Foods Limited. The company is based in Manchester and is an independent manufacturer of stir fried produce to a number of the UK’s top supermarket chains. Lloyds have provided facilities to allow the company to continue its aggressive expansion plan following an MBO in 2004.
July 2006
Johnsons Photopia Limited
HW Corporate Finance in Manchester provided due diligence to the MBO team for their acquisition of Johnsons Photopia Limited. The company which is based in Newcastle-under-Lyme, provides leading edge technology solutions for consumer electronics with a primary focus on imaging related products for the photographic industry. Lloyds Bank provided the acquisition finance for the transaction.
June 2006
Reporting Accountants on the AIM listing of Worthington Nicholls Plc
HW Corporate Finance acted as Reporting Accountants on the AIM listing of Worthington Nicholls Plc which successfully entered the market on 12th June 2006 with a value in excess of £30m.
The Company was founded over 30 years ago and is the UK’s largest independent installer of air conditioning and heating systems.
Andy Sumner, Lead Partner and based out of HW Corporate Finance’s Manchester office commented “It is testament to the quality of Worthington Nicholls that it has achieved this listing given the current turbulent conditions of the stock market. We were delighted to act for the Company and look forward to working with them in the future.”
Lead Advisor on the sale of Viking Tours to Protours South Africa
HW Corporate Finance demonstrated its ability to source strategic buyers from overseas by selling Viking Tours to Protours, a South Africa based coach operator. Viking was part of the Travelstyle Tours group whose core activity is the running of coach tours.
Partner Sean Moriarty, who led the HW Corporate Finance team commented “we are delighted to have achieved an excellent outcome for all concerned, our thorough approach in researching the market definitely paid off”.
May 2006
Heathcotes Outside Limited
HW Corporate Finance (NW) provided financial due diligence to Lindley Catering for its strategic partnership with Heathcotes, a renowned outdoor caterer in the North of England. Lindley Catering is a Sovereign Capital backed investment for whom HW Corporate Finance (NW) acted during the MBO completed during 2005
Project Management of the merger of the University of Glamorgan and Merthyr Tydfil College
HW Corporate Finance has helped facilitate the first merger of an FE College with a University in Wales. The merger of Merthyr Tydfil College with the University of Glamorgan was supported with project management by Adrian Godfrey, Partner, at HW Corporate Finance, South West.
The merger will play an important role in the regeneration of the ‘Heads of the Valley’ area by providing an excellent learning environment to maximise opportunities and provide the local businesses with a skilled workforce. Professor Les Hobson, Deputy Vice Chancellor of University of Glamorgan, commented “thanks for the tremendous effort you and your colleagues put in to bring us towards integration” he adds, “we appreciate not only the amount of effort that went in to the production of the proposal…but also the on-going support you have provided”.
To coincide with the exciting collaboration, HW Corporate Finance have also helped raise funding for the University of Glamorgan’s new Creative and Cultural Industries campus in Cardiff city centre.
April 2006
Pi Captial Ltd
HW Corporate Finance South East provided financial due diligence for Pi Capital, a London based venture capitalist’s investment in Million 2-1, an interactive competition, lottery and games company.
CRH PLC
HW Corporate Finance (NW) provided financial due diligence for this listed group in its acquisition of Oakhill Holdings Limited, a £27m turnover reinforced concrete products manufacturer
March 2006
Shaw Healthcare (Homes) Ltd
HW Corporate Finance South West, have advised Shaw Healthcare (Homes) Ltd on the reorganisation of its business.
The existing business and assets were transferred from a charitable company to a newly established PLC in 2006. HWCF advised the trustees of Shaw on the valuation of the business.
The Cardiff-based organisation, which has homes in the South West, Midlands, London and the South East, provides care to the elderly, post operative patients and younger patients who are mentally disadvantaged or have learning difficulties.
Adrian Godfrey, Partner - HW Corporate Finance South West, advised.
Lead Advisors on Sale of UMC International PLC
HW Corporate Finance has recently completed the sale of UMC International PLC, a market leader in underwater ship maintenance, repair and engineering services, to V Ships Services Limited, the world’s largest provider of independent ship management and marine services to the shipping industry.
The acquisition by V Ships Services Limited, part of the V Holdings Ltd group of companies, was part of their strategy to build a comprehensive marine services offering. The acquirer is the world’s largest provider of independent ship management and related marine services to the shipping industry with 56 offices in 26 countries.
Lead advisor on the sale was Chris Burgess, Director, at HW Corporate Finance, South West.
January 2006
Smart Storage Limited
HW Corporate Finance (NW) provided financial due diligence for Bridges Community Ventures, a London based VC for its investment in this start up, a Liverpool based self storage business
WEST COATINGS LIMITED
HW Corporate Finance has successfully completed the takeover of MJP Coatings Ltd by West Coatings Ltd in the Black Country, a company formed by Mr Mike Preece, a former employee of MJP Coatings Ltd
The business, which is based in Dudley, is specialised in the technique of applying dry paint to components.
HW Corporate Finance’s team in Wolverhampton, led by Corporate Finance Partner Alan Gardner, assisted Mr Preece in securing financial backing from UK Steel Enterprise.
Mr Preece commented: “The support of a strong team of advisors, like HW Corporate Finance, has meant that all the hard work and determination has created a company with a very good starting base and excellent prospects”.