A very busy month as deals are struck in the Midlands [Birmingham Post (England)]
(Birmingham Post (England) Via Acquire Media NewsEdge) A round-up of deals agreed in the Midlands over the past month Birmingham manufacturer IMI has acquired Brazilian company Grupo InterAtiva for pounds 43 million.
Grupo InterAtiva designs, assembles and distributes isolation valves to the oil, gas, sugar, ethanol and water treatment markets.
IMI has also acquired Italian engineering firm Remosa SpA.
Remosa was acquired from the founding Mambrini family for a cash consideration of EUR82.4 million, pounds 68.48 million, and the debt assumed as part of the transaction of approximately EUR17.6 million, pounds 14.62 million.
Shield On-Site Services Ltd from Newcastle-under-Lyme, Staffordshirem - a provider of environmental testing and related consultancy services - acquired the on-site services division of Alcontrol Ltd from Hawarden, a provider of analytical food testing EDM Group Ltd in Bilston, an LDC portfolio company that provides electronic document management services, acquired Filing Plus Ltd from London, also a document management business. Terms were not disclosed.
Caseking GmbH from Berlin in Germany, a distributor and retailer of computer accessories, acquired Overclockers UK Ltd from Stoke on Trent, an online computer components retailer, for an undisclosed consideration.
JD Sports Fashion Plc from Bury acquired Sabotage Ltd (trading as Fly53) in Worcester, a manufacturer and supplier of street fashionwear. Further details not disclosed.
Nottingham sports tour provider Halsbury Travel has acquired Kentbased Tours4, which organises school trips and study visits abroad. Terms not disclosed.
Evesham-based website operator The Student Room has acquired GetRevising, East Sussex, a provider of online learning resources for students. Further details not disclosed.
Assured Recruitment Solutions, Newcastle-under-Lyme, has acquired Right Click Recruitmen, Harrogate, North Yorkshire. Further details not disclosed.
Worcester accounting and business advisory service Richards Sandy Partnership is to merge with Howard Painter & Co on March 1.
Nottinghamshire-based telecoms and internet services provider Timico Technology Group, has acquired Redwood Telecommunications, based in Surrey.
Lincolnshire telecoms group GCI Telecom Group has secured a pounds 10million investment from the Business Growth Fund (BGF).
Legal advice for GCI was provided by the Birmingham office of Eversheds and Wragge & Co were legal advisers to the BGF.
BDO Stoy Hayward Corporate Finance provided financial advise to the BGF.
Sheffield-based Gabbro Precision, which supplies metal components to the downhole and wellhead oil and gas markets and is a Baird Capital Partners Europe portfolio company, has acquired Loughborough's Midland Precision, a precision engineering business, for pounds 10 million.
London-based brewery Fullers has acquired 15 freehold tenanted pubs from pub operator Enterprise Inns, Solihull, for pounds 22.9 million in cash.
Suzuki Motor Corp, Japan, manufacturer of cars and motorcycles, intends to create a new joint venture with Intelligent Energy Holdings, Loughborough, to create a fuel cell systems joint venture.
Intelligent Energy Holdings provides energy services in hydrogen generation, fuel storage and power generation using proton exchange membrane fuel cells.
The new company, Smile FC System Corp, will be a 50/50 joint venture, and will manufacture fuel cell systems.
Hotbed Portfolio Managers, a joint venture by Connection Capital and Riverside Capital Investors, has acquired assets from Hotbed Group Ltd and its subsidiary Hotbed Ltd, Milton Keynes.
Hotbed offers experienced private investors opportunities to invest in alternative assets such as private equity and commercial property. Terms not disclosed.
Legal advice to Hotbed Portfolio Managers LLP, was provided by Gateley, Birmingham.
NGH Topco, Coventry, a buy-out vehicle led by the management of recruitment agencies Network Group Holdings, Meriden, and Pertemps, Coventry, has acquired the share capital of both companies.
The offer price represents a premium of around 40.5 per cent to the closing price of Network of 18.5p per share on the last day of dealing. The deal will create Pertemps Network Group.
Lloyds TSB Development Capital provided funding to support the deal.
It is understood that employees of the new company will own around 40 per cent of the groups equity going forward, and that Tim Watts and the founders of both Pertemps and Network will continue to hold significant stakes.
Legal advisors to Lloyds were Eversheds, Birmingham, and legal advisors to Network Group Holdings were Pinsent Masons.
Car dealer Gordon Lamb Holdings, Derbyshire, has secured a refinancing deal. Terms not disclosed.
Alkane Energy, Nottinghamshire, supplier of electricity generators and methane gas to industry, has acquired Greenpark Energy, London, which extracts methane and generates electricity, for the initial consideration of pounds 5 million.
Vitruvian Partners have led an investor buy-out of Healthcare At Home Burton-on-Trent, a provider of medical treatments to patients in their own homes. Consideration undisclosed.
Healthcare at Home completed a pounds 100 million refinancing with The Royal Bank of Scotland and HSBC.
Healthcare at Home is a subsidiary of Argonaut Topco, in turn a unit of HAH Holding (Europe), the holding company of investment firm Hutton Collins.
Phase Vision, Loughborough, a manufacturer of optical inspection tools for the measurement of large industrial items, has secured funding of pounds 1.5 million from Octopus Investments and Qi3 Cambridge, the management consultancy firm. Further details not disclosed.
Italian bicycle saddle and accessories manufacturer Selle Royal has acquired a 60 per cent stake in Hide & Mc Inc, Japan, a designer and manufacturer of casual cycling wear, through its subsidiary, Brooks England, Smethwick.
Diamond drilling and sawing services company D-Drill, Coventry, has acquired north west-based Highway Systems, which provides concrete road cracking and seating services. Terms not disclosed.
Irish crisp manufacturer Tayto Crisps has acquired Midland Snacks Wolverhampton, which makes pork scratchings. Terms not disclosed.
Tayto is a division of C&C Group (Cantrell & Cochrane), Dublin, manufacturer, marketer and distributor of cider, spirits, liquers and snacks.
Off-road, aerospace and defence vehicle parts manufacturer GKN, Redditch, has completed a share exchange agreement with JTEKT Corp, Japan, which makes and distributes of steering systems, driveline components, bearings and machine tools.
Under the terms of the agreement, GKN acquired JTEKT's 49 per cent shareholding in GKN Driveline JTEKT Manufacturing, Thailand, a manufacturer of automotive components, and transferred its 49 per cent stake in GKN JTEKT (Thailand), a distributor and seller of automotive parts, to JTEKT.
GKN paid JTEKT net consideration of approximately pounds 7.7 million, with a deferred consideration of pounds 1.3 million.
JMC Aquatics, Derbyshire, a distributer of fish and aquatic accessories, has acquired Pedigree Wholesale, Nottinghamshire, which supplies pet and aquatic products into the independent retail sector. Terms not disclosed.
Keycom, Stafford, which provides broadband services to the higher education market, has announced its intention to raise pounds 1.5 million via a placing of 150 million new ordinary shares at 1p per share with institutional and other investors.
The placing has been underwritten by Les Halpin, a director and shareholder of the company.
Cullum Capital Ventures have made an investor buy-out of Crown Insurance Brokers, Birmingham, provider of commercial and personal insurance services. Consideration undisclosed.
Building supplies distributor CRH (UK), Leicestershire, has acquired Anchor Bay Construction Products, registered in Berkshire and operating from Kent, which a provides formwork and waterproofing products to the construction industry, for pounds 9.7 million.
Daventry-based 99p Stores is reportedly the target of a takeover. Electra Partners are believed to be the front runners for the chain of stores, while a number of rivals are also thought to be interested.
The consideration is expected to be between pounds 50-pounds 60 million. The chain was put up for sale in 2011 with a reported pounds 80 million price tag.
Torex Retail Holdings, Dunstable, which provides IT products for retail, has acquired Sanderson RBS, Milton Keynes, which supplies electronic point of sale products, from Sanderson Group, Coventry, a software and IT services provider, for pounds 11.75 million.
Sanderson Group will use the proceeds from the disposal to repay debt.
Goldshield Electronic Security, Newcastle-upon-Tyne, has acquired AIS Total Security, Nottingham. Terms not disclosed.
Housing company Orbit Group, Coventry, have secured pounds 150 million in new debt funding from The Royal Bank of Scotland and Clydesdale Bank.
Under the terms of the deal, RBS provided a 10-year loan of pounds 100 million and Clydesdale provided a pounds 50 million revolving credit facilty.
Secured Mail Ltd, Cheshire, has acquired the downstream access division of DHL Global Mail (UK), Berkshire.
Terms not disclosed.
The acquisition includes the transfer of 55 staff and a mail depot in Northamptonshire.
DHL Global Mail is owned by Deutsche Post AG, Germany.
Canadian industrial machinery distributor Finning International has acquired the delivery and support business formerly operated by Bucyrus in South America, Canada and the UK, from Caterpillar, USA, which manufacturers industrial earth-moving and construction machinery.
Cash consideration around pounds 299.55 million.
Corrugated Box Supplies, West Bromwich, has secured a new funding package from Lloyds TSB Commercial.
Financial details not disclosed.
Youth Hostel Association (England and Wales), Derbyshire, has secured a pounds 13 million funding package with The Co-operative Bank. YHA will use the new money to invest in its property portfolio and refinance existing debts.
Window and conservatory manufacturer Epwin Group, Cheltenham, has merged with PVC-u and PVC-ue manufacturer Latium Building Products, registered Cheltenham, operating from Lincolnshire, to form Epwin Holdings.
The company will be led by a new senior board chaired by Epwin Group founder Jim Rawson and will include Latium owner Brian Kennedy, the existing shareholders.
Barclays has provided a debt package in support of the deal. Legal advisors were Eversheds, Osborne Clarke and Pinsent Masons.
Breedon Aggregates, registered Jersey, operating from Derbyshire, England, has acquired Nottingham Ready Mix, which produces and supplies ready mixed concrete. Terms not disclosed.
Tyrrells Potato Crisps, Herefordshire, has acquired vegetable crisp manufacturer Glennans, Staffordshire.
Further details not disclosed.
Muller Dairy (UK), Market Drayton, a subsidiary of Unternehmensgruppe Theo Moeller Secs, registered Luxembourg, operating from Germany, has acquire the share capital of Robert Wiseman Dairies Plc, Glasgow, for pounds 279.5 million.
The offer was at 390p per share in cash, representing a premium of around 59.8 per cent over its closing middle market price of 244p per share on January 12 the business day prior to the start of an offer period.
Muller entered into a pounds 208.47 million credit agreement with Deutsche Bank in support of the deal. Robert Wiseman delisted from the London Stock Exchange following completion.
Deal information supplied by Corpfin
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