recent deals

April 2008

Hotbed Limited - acquisition of 17 ½ - 18 Esplanade, St Helier

emw law acted for Hotbed on its acquisition of 17 ½  - 18 Esplanade, St Helier - one of the leading commercial properties in Jersey, for £12.5m. The deal involved a £5m investment by Hotbed members.

Perspective Financial Management Group - sale to Perspective Financial Group

emw law advised the shareholders of PFM Group on its sale to Perspective Financial Group. The sale involved a partial rollover into equity in the buyer.

March 2008

4DM Limited - acquisition of DL Marketing (Direct Link) Limited and Venturini (UK) Limited

emw law acted for 4DM Limited, the Kettering-based direct marketing group, on the purchase of DL Marketing (Direct Link) for an undisclosed price.

Ampthill Metal Company Limited - sale to Plunkett Holdings UK Limited

emw law's corporate finance team acted for the shareholders of Ampthill Metal UK Limited on the sale of the Company to Plunkett Holdings UK Limited, a subsidiary of One-Fifty-One Plce.

BD Holding Company Limited - acquisition of the company

emw law's corporate finance team acted for the management team of BD Holding Company in their acquisition of the company.

Cognita Schools Limited - acquisition of Charterhouse Square School

emw law acted on another acquisition for Cognita, with Charterhouse Square School acquired on 20 March 2008.

Cognita Schools Limited - acquisition of Cumnor House School, Pampisford

emw law acted on another acquisition for Cognita, with Cumnor House School, Pampisford acquired on 31 March 2008.

Falkland Islands Holdings plc - acquisition of Momart International Limited

Falkland Islands Holdings plc acquisition of Momart International Limited completed on 5 March 2008. emw law's banking team acted for HSBC Bank plc who provided various term and working capital facilities. The transaction involved the acquisition of the world's largest transporter of fine art.

Hotbed Limited - investment into Greenmeter Limited

emw law acted for long standing client Hotbed Limited on an investment into Greenmeter Limited. Greenmeter operates a full service estate agency based on an online model. Hotbed members invested £1.6m in the deal.

Hotbed Limited - investment into Tangram Leisure Limited

emw acted for Hotbed on its £2.5m investment (as part of a £22m fund raise) into Tangram Leisure Limited, a company formed to construct a spa hotel in Thorpe-le-Soken, Essex.

Hotbed Limited - sale of its shareholding in Willow Street Hotels

emw acted for Hotbed on the sale of its shareholding in Willow Street Hotels. The disposal gave an IRR of 56% to investing Hotbed members.

Sectorguard plc - acquisition of Manguard Limited

emw law's banking team acted for National Westminster Bank plc and RBS Invoice Finance Limited who provided term and working capital facilities to assist with the purchase by Sectorguard plc of the issued share capital of Manguard Limited. Sectorguard plc is one of the UK's largest guarding companies.

February 2008

Cognita - acquisition of Kings School (Plymouth) Limited

emw law acted on another acquisition for Cognita, with Kings School (Plymouth) acquired on1 February 2008.

EMR Search and Selection Limited - sale of shares

emw law acted for the shareholders of marketing and HR recruitment compan EMR Search and Selection Limited on the sale of their shares to FiveTen Acquistion Limited.

January 2008

Project First Group Limited - acquisition of shares of Red Kite Refridgeration & Air Conditioning Limited

emw law advised the Project First Group Limited on the acquisition of the entire issued share capital of Swansea based Red Kite Refridgeration & Air Conditioning Limited.

Red Kite Refridgeration provides its clients with all aspects of air conditioning and refridgeration, from the initial design al the way through to ongoing maintenance and servicing of all related equipment.

December 2007

Carlisle Group – acquisition of Kennedy Clayton

emw law acted for the fully listed plc on its acquisition of Yorkshire-based Kennedy Clayton.

Dynax Systems Limited - sale of shares to Impera Plc

emw law acted for the shareholders of Dynax Systems Limited on the sale of their shares to Impera Plc.

Dynax Systems Limited is based in Basingstoke and provides a range of IT system integration and IT communications products and services including network consultancy, hardware and software, technical products and services, voice data products, installation, maintenance and support contracts to corporate customers and large SMEs.

Impera Plc has two existing operating companies ImperaData Ltd and Secure Networks UK Ltd and it is envisaged that the acquisition of Dynax Systems Limited will fully compliment the business continuity, data backup and network security services provided by ImperaData and Secure Networks.

Hotbed Limited - acquisition of Regency Court

emw law acted for Hotbed on its acquisition of Regency Court one of the leading commercial properties in Guernsey, for £36m.  The deal involved an £8m investment by Hotbed members in a pure equity and mezzanine split.

K Gray Plumbing - acquisition

emw law advised the purchaser in respect of the acquisition of K Gray Plumbing and Heating Services Limited.  K Gray Plumbing and Heating Services Limited was originally established in 1968, providing a service to the building industry on new housing contracts.

November 2007

4DM Group - management buy-out

emw law acted for the Vendors on the £5 million management buy-out of 4DM Holdings Limited.

The 4DM Group is a specialist in providing a range of direct marketing services.

Hotbed Limited - acquisition of Adelie Food Holdings Limited

emw law advised Hotbed on the acquisition and lease-back of an industrial warehouse portfolio from Adelie Food Holdings Limited, completed during November 2007.

The portfolio of properties (fitted out for the preparation of fresh food) comprised sites at Milton Keynes, Sheffield and Kilmarnock and represents an excellent opportunity for Hotbed Investor members to benefit from anticipated rental growth over coming years, until an ultimate sale of the portfolio.  

Hotbed Limited - management buy-out of Avocet Hardware Limited

emw law acted for Hotbed Limited on the management buy-out of Avocet Hardware Limited from Masco Corporation Limited.  Avocet is a manufacturer and distributor of locks, handles and hardware for doors and windows with a turnover in excess of £40m.  Hotbed Investor Members provided equity funding of £3.25m to support the buy-out alongside debt funding from Landsbanki Commercial Finance.

La Fornaia - disposal

emw law advised the selling Shareholders on the sale of La Fornaia to Maple Leaf Foods, a leading global food processing company whose shares are listed on the Toronto Stock Exchange.

La Fornaia is a leading producer of an extensive range of hand-formed speciality bakery products and the acquisition extends Maple Leaf's product offering in the premium speciality bakery market.

Motivcom - acquisition of Protravel Limited and Protravel TB Limited

emw law acted as a legal advisor to Motivcom on the acquisitions. emw law has acted for Motivcom since its buy-out by the current management team in April 2003, and through it subsequent listing and numerous smaller acquisitions. These acquisitions will strengthen the already powerful position of Motivcom's Travel & Leisure division.

Motivcom - acquisition of Zibrant

emw law acted as legal advisor to Motivcom on the acquisition of Zibrant, the placing of new shares and the entering into of new banking facilities totalling £15.575million.

emw law has acted for Motivcom since its buy-out by the current management team in April 2003 and through its subsequent listing and numerous smaller acquisitions.

National Accident Helpline - refinancing

emw law acted for National Accident Helpline and its investors in its refinancing.  The refinancing involved the setting up of a new holding company, an exchange of shares between the investors and the new holding company and a refinancing of the equity finance.

emw law acted on the 2006 buy out which was backed by Lloyds Development Capital and Lloyds TSB Bank plc.

Stuart Alexander - acquisition of Neville Insurance Consultants Limited

emw law acted for Stuart Alexander (now part of AXA UK’s insurance broking arm) on its acquisition of Surrey-based broker Neville Insurance Consultants Limited.

The Pallet Network Limited - management buy-out

emw law acted for the management team of Rugby based The Pallet Network Limited in a management buy-out backed by Lloyds TSB Development Capital Limited.

Triplex group - sale to Amtek Investments (UK) Limited

emw law acted for the shareholders in the sale of the Triplex group, a company involved in the manufacture of specialised parts for the motor industry.

back to top of page

October 2007

Cognita - acquisition of Oakfields School

emw law acted on another acquisition for Cognita, with Oakfields School being acquired on 8 October 2007.

Dexter Brown Limited - disposal of the entire issued share capital

emw law acted for the shareholders of Dexter Brown Limited, chartered surveyors specialising in the provision of commercial property management services including asset and property management and investment consultancy, based in Milton Keynes, on the sale of their shares to AIM listed Trust Property Management Group plc.

Hotbed Limited - investment in Mobiletrails Limited

emw law acted for Hotbed on the £2.1m investment in Mobiletrails Limited a company which provides location based travel information (information specific to a person’s actual location) to holiday makers via mobile phone and SMS text message. 

September 2007

Alibone Recycling Limited - sale to Reconomy

emw law advised the selling shareholders on the sale of Alibone Recycling Limited to Reconomy, a company formed by Englefield Capital to develop a business in the UK waste and recycling sectors.

Alibone Recycling has been providing paper, card, glass, plastic and office recycling services in and around Northamptonshire for over forty years.   The sale ensured the continued involvement of the selling shareholders, retaining a small stake in the business and seats on the Board.

Cognita - acquisition of Milbourne Lodge School

emw law acted on another acquisition for Cognita, with Milbourne Lodge School being acquired on 19 September 2007.

Wyckham - sale of Trackline

emw law acted for the shareholders of Wyckham Contracts Limited on the sale of the Company to a Newco established by Primary Capital in a transaction valued at £26m.  As part of the transaction the Vendor rolled over part of the consideration into a significant share in Newco.

Wyckham Contracts Limited, via its subsidiary Trackline International Limited, is the UK’s leading provider of crawler track systems and chassis to the construction equipment market.  The business is based in Northampton with operations in Bourne, Lincolnshire and in the UAE and India.

back to top of page

August 2007

ECM (UK) Limited - acquisition

emw law acted for Seckloe 274 Limited on the acquisition of ECM (UK) Limited, completing the acquisition during August 2007.

ECM is a provider of consultancy advice to corporate customers on utility supplies and the addition of ECM to the Seckloe group compliments its sister company, CUC Limited which provides similar services in the utilities sector.

Finance for the acquisition was sourced from a mixture of funds already available and debt arrangements newly agreed with HSBC Bank plc.

The transaction involved a number of selling shareholders, some with private representation and the particular challenge on the transaction was bringing all of these parties together in agreement.  With the lawyers acting for HSBC paying particular attention to the transaction, the deal represented a great challenge to all concerned and those involved in getting the matter all the way to completion.

Hotbed Limited - investment into Birmingham Business Park

emw law acted for Hotbed on the investment of £6m of equity in the £15.45m acquisition of Nos. 3500-3900 Parkside, Birmingham, one of the UK’s premier business parks.  The properties are situated close to Birmingham International Airport, Birmingham International Railway Station and the National Exhibition Centre and offer opportunities for increase value.  

Hotbed Limited - investment into St Clements House London

emw law acted for Hotbed on the investment of £3.75m of equity alongside joint venture partner Stenham, plus debt funding, in the £24.5m acquisition of St Clements House.  The property is a 47,000 sq ft, high specification, City of London freehold office building which has been bought with a view to refurbish it once vacant possession of the current tenant has been obtained.

Motivcom - acquisition

emw law acted for Motivcom in the acquisition of Motivation Travel Management in August 2007.   The acquisition continues the string of acquisitions which have been carried out by the AIM listed company in recent years and on which emw law has acted.  Motivation Travel Management provides incentive travel and conference facilities. 

July 2007

Astbury Marsden Limited - management buy-out

emw law acted for the management team on the MBO of Astbury Marsden Limited, a specialist provider of recruitment services to the banking sector in the City of London. NVM Private Equity Limited invested £5.6 million in the management buy out.

Established in 1995 and led by an entrepreneurial management team, Astbury Marsden provides candidates for both permanent and contract positions to blue chip clients in the UK, US and major Asian financial centres, including Barclays, UBS, JPMorgan, Oliver Wyman and Virgin.

Fast becoming the global M&A centre of the world and overtaking New York, the City of London is currently experiencing strong growth, which has in turn driven the recruitment market within the sector. Astbury Marsden now has the opportunity to build upon its strong position in London’s banking sector, which reflects its comprehensive understanding of its clients’ requirements and consequent ability to find them the right candidates.

emw law acted for Jonathan Nicholson, who has worked in the business for nine years, and Mark Cameron who became Chief Operating Officer. The private equity investors provided £5.6m of the total £17.5m funding which was used to buy out the 80% shareholding of Paul Marsden who established the business and stepped down as CEO.

Brands of Distinction Limited - acquisition

emw law acted for several individual investors in the acquisition of the entire issued share capital of Brands of Distinction Limited for £3.95m.

Brands of Distinction Limited is the holding company of Petty, Wood & Co Limited which has almost 200 years in the retail market and offers a full sales, marketing and distribution service for premium food and drink brands to all UK and Irish food retail, wholesale and food service sectors.

Expamet Building Products Limited - acquisition

emw law acted for the management team headed by John Cowley in the acquisition of the business and assets of Expamet Building Products Limited.

Expamet is a leading supplier of building metalwork in Europe with over 100 years of building industry experience.  The acquisition was backed by GE Capital with professional firms from London and Birmingham acting for the sellers and funders.

Hotbed Limited - investment into Intempo Digital

emw law acted for Hotbed on its £2m investment into leading DAB radio and I-Pod speaker manufacturer Intempo Digital as part of a development capital and debt funding round worth over £10m.

Hotbed Limited - investment into Mtivity

emw law acted for Hotbed on its £1.5m investment into Mtivity, a marketing supply chain software provider, as part of a development capital round worth over £3.5m

back to top of page

June 2007

Cognita Schools Limited - acquisition of Ffynone House School

emw law acted on another acquisition for Cognita, with Ffynone House School being acquired on 14 June 2007.

Hotbed Limited - investment into Original Travel Limited

emw law acted for Hotbed on the £1.2m investment in Original Travel Limited during June 2007.

Original Travel is a fast growing and award winning provider of high quality holidays in particular specialising in the 3-10 day break providing destinations which are better, more adventurous, luxurious or unusual than the customer can find themselves.  The investment was EIS (Enterprise Investment Scheme) eligible and available to all members of Hotbed’s investor member network and represents another excellent opportunity in a niche area.

QA-IQ - Englefield Capital investment

emw law acted for the shareholders of QA-IQ Group on private equity provider Englefield Capital’s £31.2m growth capital investment.

QA-IQ consists of two divisions: (i) QA-IQ, the largest IT training business in the UK; and (ii) IQ Systems, a distributor of network infrastructure software. QA-IQ is an independent provider of IT Professional and Personal Development skills training with 160 instructors delivering over 800 different courses across 20 centres throughout the UK. Through a combination of strong organic growth and eight strategic acquisitions, QA-IQ has more than doubled its market share from approximately 6% to approximately 12% between 2002 and 2006. The company currently has more than 5,000 SME and corporate clients, including RBS, Vodafone, MoD, O2, and Alliance & Leicester, and is the undisputed leader in the UK IT training market. IQ Systems is a distributor of infrastructure software to a nationwide IT reseller network. IQ Systems brings synergies to QA-IQ in the form of access to the software vendors for curriculum development as well as access to the resellers and their end customers, who are both potential customers for IT training. Approximately £9 million of Englefield's investment will be retained by QA-IQ for future acquisitions.

Terinex - sale  to Clear Sky Catering

emw law acted for the shareholders of Terinex on the sale of Terinex to Clear Sky Catering in June 2007.  Terinex is one of the worlds leading producers of polyester oven bags for the catering, airline, food processing and retail industries.  

The Handmade Bakery Group Limited - disposal of Danish Specialities Limited

emw law advised The Handmade Bakery Group Limited on its disposal of the business and assets of Danish Specialities Limited. The Handmade Bakery Group Limited is the holding company of a number of subsidiaries including The Handmade Flapjack Company Limited which manufactures and distributes flapjacks, muffins, caramel shortcake and other confectionary to wholesalers and consumers nationally from its manufacturing site in Coventry.

emw law acted for The Handmade Bakery Group Limited in September 2005 when it acquired The Handmade Flapjack Company Limited and we have continued to act for the Company in the strategic restructuring of its Group.

Valleyhall - sale of shares to Causeway Technologies

emw law advised the Shareholders of Valleyhall on the sale of their shares to Causeway Technologies.  Valleyhall develops and supplies software for customers in the property and construction related industries.

May 2007

Moore Stephens - acquisition

emw law acted for longstanding client MacIntrye Hudson on its acquisition of the Leicester branch of Moore Stephens Accountants, from its partners for an undisclosed sum.

back to top of page

April 2007

Hotbed Limited - investment into Cash4All Limited

emw law acted for Hotbed on the £1.85m investment into Cash4All Limited during April 2007.

Cash4All is one of a small number of independent ATM, or cash machine, operators that install fee charging ATMs.  The Company,  one of only 11 LINK approved independent ATM deployment businesses, was founded in 2004 by the former chief operating officer of AiM listed Moneybox plc.  The investment was EIS (Enterprise Investment Scheme) eligible and available to all members of Hotbed Limited’s investor member network.