Welcome to the latest edition of our quarterly round-up of deals.
We can report continued strong activity in both M&A and Aim markets, despite the generally gloomy economic news. The deals featured below reflect the continued ability of strong management teams, in growing sectors of the economy, to attract finance and grow through acquisition.
The differences between sectors of the economy, is shown by a simultaneous increase in restructuring, and administration "pre pack" deals, for businesses whose markets have been hit hard, by a reduction in credit and increase in costs.
Client: Loewy Group Limited
Deal Size: £10 million
Goal: Acquisition of Brandpool Ltd
DMH Stallard continues to advise Loewy following their £16m private equity investment in 2007. The Group’s most recent deal involved the acquisition of advertising and creative agency Brandpool for approximately £10million.
Loewy delivers design and brand communication services in major sectors including fmcg, food, drink, retail/fashion, tech/telecom, corporate/FTSE250, government/public sector and financial/professional services. DMH Stallard have advised Loewy for over ten years.
Client: Valens Resources Group Plc
Deal Size: Undisclosed
Goal: Acquisition of Glazewing Ltd
DMH Stallard advised Jon and Simon Miles, the Kent-based entrepreneur brothers who last year sold municipal services company Verdant Group to Greenstar, in relation to their purchase of Glazewing Ltd. The brothers plan to build the company in the next few years into a significant independent metal recycling and ancillary services provider stretching east from the Wash to Southampton.
DMH Stallard’s Corporate lawyers worked with KPMG Corporate finance on the deal. Jonathan Grant lead the team and co-ordinated due diligence teams, including property, planning and environmental lawyers. DMH Stallard’s specialist banking team, lead by Gwen Godfrey, co-ordinated financing arrangements. We have also been retained following completion to deal with planning and environmental issues related to the acquisition.
Client: The Friday Group
Deal Size: Various
Goal: Continuing buy and build strategy
Based in Hickstead, Sussex, The Friday Group – the largest independent publisher in the UK – has been growing continuously since its inception in 1975, when the current owners recognised an untapped market for local advertising. In November 2005 The Friday Group continue to instruct DMH Stallard on its business acquisition programme.
DMH Stallard continue to be instructed, recent deals include the expansion of the extreme sports sector with the acquisition of A1 Surf (surf) and GONEboarding (snow boarding). Dominic Travers (corporate) and John Yates (commercial due diligence) advised on these deals. We have also advised on a joint venture to set up an online interactive business directory www.brownbook.net, Jonathan Grant and Megan Hall advised.
Client: Hallin Marine Subsea International PLC
Deal Size: £3 million
Goal: Strategic acquisition of Prospect Flow Solutions Ltd
Hallin Marine Subsea International PLC provides underwater services to the marine, survey, cable and offshore oil & gas industries, and also vessels and diving systems to carry out subsea operations in the South East Asia region.
Prospect is a leading engineering solutions provider to the oil, gas and renewable energy sectors and is a specialist in computer-aided engineering. The acquisition gives Hallin a growing and successful subsea engineering consultancy business.
DMH Stallard advised Hallin on their IPO on the AIM market in April 2005. Following this the firm have continued to advise the company on a number of significant transactions including the disposal of SOV Ullswater for $44 million, and a £60 million refinancing to fund the purchase of the Windemere in 2007.
You can see more of the recent transactions that we have worked on at dmhstallard.com/transactions.
Meet the Corporate team
To register for further newsletters and DMH Stallard updates please click here
