News
Armson Darwent Shaw
Andrew Fletcher has completed a management buy-out of Armson Darwent Shaw, the Sheffield trading division of Armson & Partners Limited in Derby. The Sheffield practice is one of the leading independent firms of Quantity Surveyors in the region.
Sheffield dealmakers Strategic Corporate Finance acted as lead deal advisers and steered the buy-out to a successful completion in less than 3 months.
The business was established over 20 years ago as a Quantity Surveying practice. Over the years it has developed a full range as a Construction Cost Consultancy, Project Management and Building Surveying services for public sector bodies, private clients, architects and construction companies.
Andrew Coates and Victoria Gribben of Strategic Corporate Finance negotiated the transaction, raised the finance and project managed the buy-out to a successful completion. Funding for the buy-out included facilities from the Royal Bank of Scotland and from UK Steel Enterprise.
Andrew Coates of Strategic commented “This was a challenging deal in many respects made possible by all those involved working closely together to complete the buy-out.”
Since joining Armson Darwent Shaw in 2007 as Managing Director of the Sheffield office, Andrew Fletcher has overseen the doubling of the turnover during a difficult economic climate.
The existing Sheffield team, including the original founders Richard Shaw and Tony Darwent, are in full support of the buy-out and will continue to provide a comprehensive and professional service to Sheffield office clients.
Food group makes tasty addition
Strategic Corporate Finance has acted as lead advisor on the successful acquisition in September 2009 of Lea Green Foods Limited by Rydal International Food Group. Rydal manufactures food ingredients for the ice cream, dessert, bakery and yoghurt markets from sites in Stoke on Trent and Hixson, Staffordshire. Lea Green Foods, based in St Helens is a leading provider of pastes and purees to the food service and manufacturing market.
Strategic complete private equity deal
WH Davis has changed hands after completion of a private equity transaction, led by Strategic Corporate Finance. Railway wagon manufacturer, refurbisher and repairer, WH Davis, based at Langwith Junction and operating from 14 other sites across the UK, has been sold to Private Equity Fund Managers, Chelverton Asset Management, who completed the purchase on behalf of one of their managed funds.
Strategic acted in an advisory capacity on the sale after negotiating the transaction on behalf of the outgoing shareholders.
Successful Wrap for Funding Deal
Stone based specialist additive masterbatch company, Wells Plastics Limited have agreed a new refinancing package with NatWest, to provide working capital and support the Management Buy Out of Lloyds Development Capital. This will see the business invest further in their growth strategy in a deal that was advised by Strategic Corporate Finance.
Wells, who have operated from Stone since 1984, is an independent specialist manufacturing business which focuses on providing technical solutions to the plastics processing industry worldwide. With over 25 years of development and manufacturing expertise in the plastics marketplace and with a global supply position, the company has a fully equipped laboratory which enables its technical staff to rapidly develop, evaluate and commercialise new products. Wells currently employ 30 staff across two sites in Stone, and operates 7 production lines 24 hours a day, 5 days a week.
The company underwent a management buy-out in 1997, and the existing management team led by Managing Director, David Nelson have now reduced the stake of their equity investor through this new funding agreement which is also designed to support the ongoing product portfolio development of the company. Recent initiatives undertaken by Wells include a new global strategic partnership with the Planet Green Bottle Company for the exclusive development and sales of oxo-biodegradable PET bottles which radically improves the environmental profile of the product range.
Commenting on the new funding and their plans for the future David Nelson Managing Director at Wells Plastics said:
“We are delighted to have completed this funding package, which whilst enhancing management’s shareholding in the company, more importantly provides a sound financial platform for the company to move forward We have managed to structure a secure place for the company in the global market by exploiting new technologies through the skill set we have built over a number of years We feel confident that we will be able to continue to grow the business as demand for our novel technologies gathers pace not only in our existing markets but also in the emerging economies”.
Jobs saved as rail equipment business acquired
Over 20 jobs have been saved following the acquisition by International Products (UK) Limited of the Bryar Group rail equipment business.
The acquired business, which will now trade as “Tracman”, is widely acknowledged as a leading designer and manufacturer of a comprehensive range of rail tools and track maintenance equipment for the railway industry. The company supplies high quality, reliable products to customers including London Underground and Network Rail.
International Products and Tracman, which are both based in Darnall Sheffield, now have a combined export market accounting for over 40% of sales, and with the availability of in house design facilities, prototype and bespoke machinery building service providing scope for further growth, the future is looking promising.
Ian Palmer, Managing Director of International Products, said: “I was keen to acquire the rail equipment business because its great products complement our existing range, giving our customers a more comprehensive choice. Combining the two businesses, which are located only 100 metres apart, safeguards the jobs of a dedicated workforce which in the current economic climate is a great result.”
Four Top Awards
Strategic Corporate Finance Partners LLP (the organisation providing the AVN Corporate Finance services) is celebrating the remarkable achievement of scooping four of seven top honours handed out at a prestigious awards ceremony for high-flying dealmakers.
The success confirms their reputation as one of the region’s leading deal advisors.
The awards came at the Yorkshire Business Insider magazine’s South Yorkshire Dealmakers’ Dinner which recognised the achievements of the area’s companies and their importance to the dealmaking process.
The firm won Corporate Finance Advisory Firm of the Year, Dealmaking Firm of the Year, Deal of the Year and Dealmaker of the Year.
