Samuel Eden & Sons
MBO of Samuel Eden
Acquirer / Funder
Private Investors
Value
<£5m
Deal Type
MBO
Sector
Manufacturing
Location
UK
Overview
Buyside Adviser to the management team of Samuel Eden & Sons Ltd on its management buyout from Sherwood Group plc
Background
Samul Eden & Sons Ltd (a trading division of Sherwood Group Plc) was the largest UK sock manufacturer specialising in licensed character socks. Based in Sutton-in-Ashfield, Notts, the division had revenues of ~£18m and was the most profitable part of the Sherwood Group plc which was one of a few remaining lace manufacturers in the UK.
The management team of Samuel Eden & Sons Ltd approached Eastwood Anglo for advice on a potential buy out from the listed parent.
Eastwood Anglo was appointed to advise on, and raise funds for the transaction, post deal Bill Eastwood was appointed Chairman.
Our role:
- Advise on company valuation & agree price with management
- Approach vendors and make offer on behalf of management (subject to funding)
- Prepare Information Memorandum (IM)
- Prepare detailed five year interactive funding model to include working capital projections for five years, headroom analysis and covenant compliance
- Distribute materials to potential funders and investors
- Select preferred funder / investor - negotiate terms
- Draft and agree Heads with funders, management, and vendors
- Advise on appointment of lawyers for vendors and management, and on scope of appointment
- Manage FDD, LDD and CDD processes
- Co-ordinate responses to Share Purchase Agreement (SPA) drafts and negotiate between parties to agree.
- Prepare disclosure letter in conjunction with lawyers
- Prepare completion funds flow
- Ensure smooth completion
- Advise on agreement of completion accounts post completion
- Advise on post completion matters:
- Board supervision
- Investor relations
