Transactions…
Please find below a range of transactions we have completed. The transactions show the diversity of our clients, buyers and funders.
Management-Buy-Out
11 January 2012: Eastwood Anglo Corporate Finance has advised the management team in the buy-out of DisplayPlan Limited, a display fixtures business, from Leggett & Platt UK Limited for an undisclosed sum. Bill Eastwood and Henry Murch acted as lead advisors to management. The buy-out was jointly led by Neil Campbell, who will become Executive Chairman and Scott Morris who continues as Managing Director.
Commenting on the MBO, Neil Campbell said: “Scott and I are delighted to have worked with EACF on this transaction. They were innovative in both the vendor negotiation and fund raising, and provided a high level of support and advice throughout. We are very pleased with the final Deal and Structure. Overall, a job well done”.
Founded in 1984, Display Plan Ltd employs 50 people across its headquarters in Baldock, Hertfordshire and in China, Germany and Holland.
YFM Equity Partners backed Displayplan Limited through the two British Smaller Companies Venture Capital Trusts, The Co-operative Bank provided senior term finance and GE Capital provided invoice discounting for the MBO.
Management-Buy-Out
5 August 2011: Eastwood Anglo Corporate Finance advised the management team in the buy-out of Faspak (Containers) Limited, a short-run box manufacturing business from its owners for an undisclosed sum. Bill Eastwood and Henry Murch led the price negotiation with the vendors, raised finance to fund the transaction and advised the MBO team until all vendor and vendee requirements had been met. The transaction was completed in under 4 months.
Based in Nottingham with over 20 employees Faspak manufactures and designs bespoke corrugated boxes and corrugated point of sale material.
Private Company Merger – Share only
Eastwood Anglo was engaged by the shareholders of two private companies SDI Displays Ltd and GPX Group Ltd to value and structure a merger for the businesses giving an enlarged group with a turnover in excess of £30m. The merger was completed in tight time frames with a strict focus on overall transaction costs.
Private Company Sale
With sales in excess of £2m Novacom Microwaves Ltd acted as a distributor in the niche area of Radio and Microwave Frequency products. Acting for the retiring directors the business was successfuly sold to AIM listed Advanced Power Components Plc. Please click here for the Mergers and Acquisitions report. For a testimonial report by majority shareholder and Managing Director John Evans please click here.
Corporate Disposal
A division of Havelock Europa PLC with sales of £5.9m. Showcard Display manufactured and designed bespoke point of sale merchandising solutions. The business was successfully sold to SDI Displays Ltd prior to its merger with GPX Group Ltd.
Management-Buy-Out
Eastwood Anglo advised the management team on the buy-out of Avocet Hardware from its parent company the US multinational Masco. With sales in excess of £40m, Avocet Hardware manufactures door & window hardware and screws and nails for the DIY merchant sector. Eastwood Anglo negotiated the purchase, arranged the funding and co-ordinated the legal teams. The transaction was funded by a combination of Private Equity and Bank Debt. For a testimonial by Managing Director Ian Jones click here or read the Mergers & Acqusitions report Dec 07 – Avocet Hardware MBO
Confidential M&A Search Assignement
A main list PLC engaged Eastwood Anglo to produce a M&A Search Assignment targeting companies of set size and sector in the private, public and corporate space. This project was completed within tight timeframes and presented to the board. The report produced a number of unique opportunities in the sub £20m turnover sector including corporate orphans.
Growth Capital Fundraising – Private Equity & Bank Debt
Acting for Managing Director and Shareholder Anthony Massouras Eastwood Anglo raised £5.2m (in 2 rounds) of private equity finance and £11m of bank debt. The funds were used to expand the care home group from 18 to 28 homes and increased bed numbers from 850 to 1400 beds. Private Equity investors Hotbed have since exited successfully with an average internal rate of return of 35%. Follow the link for Hotbed, the private equity partner’s press release.
In addition to raising the growth capital Eastwood Anglo identified and negotiated the acquisitions and continue to work closely with the company.
Dartmoor Investment Trust plc
Acting for an individual shareholder Eastwood Anglo launched a takeover bid for Dartmoor Investment Trust acting within the rules of the City Code on Takeovers and Mergers. Following the demise of the split capital sector the shareholder had identified significant value in the shares of the trust. The takeover was not ultimately successful but the shareholder increased their holding resulting in significant profits. For details follow the link to the offer announcement.
