Eastwood Anglo has advised on numerous transactions covering a wide range of sectors across private and public markets. Shown below are a selection of transactions, for case studies and further information see the Full Info tab. The transaction value is provided where this is public knowledge, otherwise an approximate range is given.
Displayplan
Refinancing of Displayplan
Acquirer / Funder
Lloyds Bank Plc
Value
<£5m
Deal Type
Refinance
Sector
Manufacturing
Location
UK
Overview
Eastwood Anglo Corporate Finance advised DisplayPlan Ltd on the re-banking of its finance facilities. Eastwood Anglo previously advised the management team on the Management Buy Out of DisplayPlan in January 2012 raising both equity funding and senior bank debt to fund the transaction. Successful growth post buy-out allowed the company to secure more favourable senior bank funding.
Avocet
MBO of Avocet
Acquirer / Funder
Hotbed
Value
£22m
Deal Type
MBO
Sector
Manufacturing
Location
UK
Overview
Deal announcement: "Eastwood Anglo advised on the MBO of hardware supplier Avocet Hardware backed by Hotbed The firm manufactures and distributes locks, handles and other hardware for windows and doors as well as fixtures such as screws and nails through its door and window, and hardware divisions. Ian Jones and Michael Tuck bought the firm from its US parent Masco Corporation, a supplier of kitchen cabinets and bathroom furniture. Jones moved into the role of CEO from finance director, and Tuck took on the role of managing director in the hardware division. Kevin Harvey, a former sales director of Avocet, rejoined the company as managing director in the door and window division. Avocet operates two divisions; the door and window division manufactures door and window hardware in its two factories in China for PVCu windows, doors and conservatories. The hardware division sources and imports fixings and hardware products from overseas for the UK DIY and builders’ merchants markets. It supplies DIY retailers including Focus, Wickes and B&Q. "
Mimosa Healthcare
Growth Capital for Mimosa
Acquirer / Funder
Hotbed
Value
£15m
Deal Type
Growth Capital
Sector
Healthcare
Location
UK
Overview
Mimosa – Growth Capital and Acquisitions Client:Mimosa Transaction: Growth Capital & Acquisitions Overview Eastwood Anglo acted for Anthony Massouras’s Nottingham based Mimosa Healthcare to raise development capital consisting of a £15m equity and debt package from Hotbed and HSBC. We also advised on subsequent care home acquisitions.
Novacom
Sale of Novacomm to APC Technology Group plc
Acquirer / Funder
APC Technology Group
Value
<£5m
Deal Type
Sale
Sector
Manufacturing
Location
UK
Overview
Eastwood Anglo acted on the sale of Novacom Microwave Ltd to Advanced Power Components plc. Advanced Power Components plc announced that it has acquired the entire issued share capital of Novacom Microwave Limited (“Novacom”), a distributor and manufacturers’ representative for RF and Microwave frequency electronic components, for a maximum total consideration of approximately £1.6 million cash. Novacom operates within a highly specialised sector of the electronics market, complementary to that of APC, focusing on the defence and communications markets. Novacom has built an excellent reputation in this market sector operating a similar business model to APC, utilising a successful ‘Design In’ approach, following projects from initial design through to production, and providing customers and suppliers with an effective support capability. Mark Robinson, Chief Executive of Advanced Power Components, commented: “Novacom is an excellent fit with APC’s existing businesses. This acquisition introduces new products and expertise, broadening our offering to customers and addressing new specialist markets. The ‘Design In’ strategy common to both businesses has helped to maintain margins during what has been a difficult period for the electronics distribution industry and we look forward to reporting on the continued growth of the Company during the second half of our financial year.” {https://www.electronicspecifier.com/news/analysis/advanced-power-components-acquires-novacom-microwave-ltd/=https://www.electronicspecifier.com/news/analysis/advanced-power-components-acquires-novacom-microwave-ltd/}
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
Morgan Tucker
Growth Capital and Acquisitions
Acquirer / Funder
Foresight
Value
<£5m
Deal Type
Growth Capital
Sector
Business Services
Location
UK
Overview
Eastwood Anglo Corporate Finance advised Morgan Tucker on raising a £1m cash injection from the £40m Foresight Nottingham Fund in a move that could create 100 jobs. The investment will support the Newark based company’s acquisition ambitions. Morgan Tucker is an award winning independent consulting engineering business with an ambitious growth strategy. Foresight Group, an independent infrastructure and private equity investment manager launched the Foresight Nottingham Fund, a £40m fund looking to invest in high growth business with a focus on Nottinghamshire and Nottingham. Eastwood Anglo Corporate Finance advised Morgan Tucker on the acquisition of North East based BES Consulting Engineers. The deal was completed just weeks after Eastwood Anglo assisted Morgan Tucker in securing a £1m cash injection from the £40 Foresight Nottingham Fund Eastwood Anglo Corporate Finance advised Newark based Morgan Tucker on the acquisition of Bolton Priesley. Managing Director Matthew Tuck said: “this acquisition of Bolton Priestley will further develop our client services in the capital by expanding our structural engineering division there.” Morgan Tucker is an independent consulting engineering business with an ambitious growth strategy
Eurofiltec
Sale of Eurofiltec to Ama Filter
Acquirer / Funder
Amafilter
Value
<£5m
Deal Type
Sale
Sector
Manufacturing
Location
UK / France
Overview
Background Bill was the founding chairman of Eurovein Ltd. Formed to buy back Sheffield wear components businesses from buyout with support from 3i and Hambros. > The overleveraged Charterhouse LBO subsequently failed, Eurovein buying back the surface treatment and filtration businesses > Floated on the London Stock Exchange for £22.5m. > Surface treatment division divested for £15m. > A new investor bought 23% stake with a strategy to develop an electronic drives business, Bill left, the group then being renamed Focus Dynamics. > Bill led a hostile public take over of the remains of the Group, Bill & Kevin retaining Eurofiltec SA – design, manufacture and supply of liquid filtration consumables and equipment to the nuclear and pharmaceuticals industries. > Eurofiltec subsequently acquired Vanpipe Ltd a pressure vessel manufacturer in Stoke-on Trent, the group being sold to Amafilter BV.
Tyzack plc
Tyzack - M&A
Acquirer / Funder
Charterhouse
Value
£42m
Deal Type
MBO
Sector
Manufacturing
Location
UK / Europe
Overview
Tyzack Plc – LSE listed. Manufacturer of wear components in Sheffield. Bill led a group of investors who acquired a minority stake, becoming executive chairman, Kevin joining the management team. They built the group up by a series of acquisitions funded by rights issues and placings: Tyzack Turner, wear components, Sheffield; Spencer & Halstead, surface treatment and filtration, West Yorks; Pangborn Europe, surface treatment, Saronno Italy; Gutmann, surface treatment, Hamburg; and Eurofiltec, filtration, Paris and Avignon. The then MD proposed an MBO backed by Charterhouse, Bill leading the investors to a successful £42m exit.
