As we start our new financial year, Morgan Cole's corporate team is reflecting on a year of high quality deals made all the more remarkable against the backdrop of the current difficult climate for corporate transactions.
The variety of the deals which we have advised on in the last 12 months is particularly pleasing, encompassing leveraged MBOs, owner-manager sales, two AIM reverse takeovers and two mid-market private equity deals (both in Wales!) as well as another excellent contribution from our corporate acquirer clients. With no let-up in activity levels as we start our new 2012/13 financial year, Morgan Cole's corporate team is maintaining this momentum.
We would like to take this opportunity to thank our professional colleagues for all their support in helping us to achieve this result and we look forward to continuing to work with you.
In one of the biggest deals in Wales
in the last year, Morgan Cole advised Target Group, the Cardiff
based financial outsourcing company in their bid to raise investment from the £1.1 billion RBS Special Opportunities Fund. Speaking about the deal, James Rudolf, Group Managing Director of Target Group said, "This investment marks the start of another exciting chapter for Target which will benefit both existing and new customers".
TLC Wales Fostering:
Morgan Cole advised on the sale of Llanelli based foster care agency TLC (Wales
) Independent Fostering Limited and Professional Integrated Care Services Limited, which were acquired by Caretech Group.
Tinopolis: Tinopolis, a TV production group based in Llanelli, was advised by Morgan Cole in the acquisition of US-based TV production groups Arthur Smith & Co and Base Production.
Morgan Cole completed Dr Organic’s acquisition of Optima Consumer Health Limited. The Swansea
based Dr Organic, is a multi-award winning natural beauty and body care products organisation that is now part of a £25 million turnover group employing some 48 staff.
Milford Haven Port Authority: Morgan Cole advised Milford Haven Port Authority on three recent deals; A merger of its ship repair business, Milford Haven Ship Repairers, with international boat builders Mustang Marine, to create a new marine-engineering company; A new partnership with Cardiff Marine Group (South Wales' newest and most dynamic marina operating company); A new partnership with The Green Electrician (one of the UK’s leading solar PV and energy saving specialists).
Cambrian Pet Foods Limited:
American private equity firm Swander Pace Capital completed an investment in one of Wales
’ original fast growth 50 companies; Carmarthenshire based, Cambrian Pet Foods Limited. Morgan Cole acted on behalf of Cambrian. With turnover of over £16 million, Cambrian is the only independent company in mainland UK
that is able to produce both wet and dry food.
PHS Group plc: PHS Group, the Caerphilly-based hygiene and service company, was advised by Morgan Cole in its acquisitions of complementary businesses in washroom, water coolers, waste management, data storage and confidential shredding sectors.
Wales Environmental Limited: Morgan Cole acted on behalf of Wales Environmental in a buy-in management buy-out which was backed by HSBC and Finance Wales.
Timberland: Morgan Cole acted for The Timberland Company in the sale of Cardigan based active clothing manufacturer and retailer Howies Limited.
Enfis Group: Enfis Group, the commercial lighting systems specialist was advised by Morgan Cole in a reverse takeover of PhotonStar LED Limited for £5.1 million.
Galileo Resources plc: Morgan Cole advised Galileo Resources plc on a reverse takeover of South African mining interests and admission to AIM.
Morgan Cole advised the Association of Electricity Producers on its merger with the Energy Retail Association and The UK Business Council for Sustainable Energy. The merged association will be trading under a new name, Energy UK
Clearswift: Morgan Cole advised the management sellers of the Clearswift Group, the global provider of communications security solutions, in its sale to Lyceum Capital.
InHealth Limited: InHealth Limited, the leading independent sector provider of healthcare services, was advised by Morgan Cole on its recent acquisition of E-locum and investment in Prime Diagnostics Limited.
Speaking about the forecast for the year ahead, Robert Cherry, a Partner with Morgan Cole said: "With no let-up in activity levels as we start our new 2012/13 financial year, Morgan Cole's corporate team is maintaining the current momentum, and the confidence our corporate clients have shown in us and in themselves augers well for the coming year too."
"The range of transactions we have advised on in the last year provide a fantastic pointer to the potential and rehabilitation of the Welsh economy, and it’s with an extremely positive spring in our step that we move forward into what we hope will be another prolific and profitable year for all concerned".