Sale of Management Consulting Firm for £28m

Corbett Keeling and its partner firm Equiteq LLP are pleased to announce that their client Alpha Financial Markets Consulting has been acquired by the UK Private Equity group, Baird Capital, in a transaction valuing the company at £28m. The deal was completed on 24th October 2013.

Corbett Keeling is a leading UK Corporate Finance boutique with 20 years transaction experience and a member of the world-wide network of M&A advisors, Globalscope. Equiteq is a consulting sector merger and acquisition specialist, providing both growth advisory and M&A transaction services to the global consulting industry.

Nick Kent, former CEO and now vice-Chairman of Alpha said:

“We were very pleased with the support we received from Corbett Keeling and Equiteq. They were very knowledgeable about our industry, helped us build a compelling value case for an investment by Baird, and managed our process very effectively and diligently to achieve an excellent result for all.”

This deal is a good example of the resurgence of Private Equity (PE) interest in consulting firms with a strong growth history. Alpha attracted 8 offers from the PE community and the shareholders chose Baird because of the flexibility of the deal structure, the financial resources they could make available and the support that Baird offered the management team in taking the company to the next stage of growth.

Chris Harper, Managing Director at Baird said:

“I will join the board, but Alpha will remain an independent company and continue its operations as a leading consulting firm to the asset management industry in Europe. Our investment will not change the company’s culture, or high quality focus on its clients, however it will enable it to broaden its services and expand into new markets like the USA. Many thanks to Alpha’s advisors on this transaction, Corbett Keeling and Equiteq, the whole process was as painless as it could be, which is a great testament to the quality of their advice and input.”

For more information and media enquiries, contact

Jim Keeling of Corbett Keeling on +44 (0)20 7626 6266 or visit www.equiteq.com/report to download the Global Consulting M&A Report.

Globalscope’s biannual conference in London was a resounding success for all involved

Globalscope’s  four day conference brought together over 40 partners from 25 of Globalscope’s 31 member firms, meeting at the Ritz Hotel in Piccadilly, London. In addition, it attracted guests from selected larger British business groups and private equity fund managers, all with cross-border M&A ambitions, at a reception held in the offices of international law firm, Hogan Lovells, London EC1.
globalscope
At the reception, Hogan Lovells presented key findings from the third study in their Evolution series, Evolution: Reigniting the Global Economy. This work, undertaken in conjunction with the Financial Times, surveyed a global cross-section of 240 board members and heads of M&A across a range of sectors. The study examined the corporate strategies business leaders are relying on to build sustainable growth in an increasingly complex, and yet potentially less stagnant, global economy and noted the growing optimism and boardroom confidence in Europe, the United States and Asia. (For more information see www.hoganlovells.com/evolution). During the conference, Globalscope was delighted to welcome two new member firms: Allegiance Capital Corporation (www.allcapcorp.com) from Texas, USA, and a new European member firm to be announced shortly. Michael Moritz, Globalscope’s president, confirmed the network’s intention to continue expansion with a view to announcing further additions at the next meeting in Cape Town in April 2014. The conference included external speakers representing the British Private Equity & Venture Capital Association, mining and exploration interests in Africa, the transport and logistics sector in the UK as well as a review of business opportunities arising from the Arab Spring, given by the Henry Jackson Society. Michael Moritz, President of Globalscope, commented “The Globalscope London conference was a resounding success for all involved; the networking M&A reception at Hogan Lovells law firm generated leads with buyers, and our partners had numerous openings to further discussions on cross border opportunities. I would like to thank Globalscope’s host member firm, Corbett Keeling, for providing Globalscope with the platform which enabled so many positive meetings.” The next Globalscope conference will be held in Cape Town in April 2014. Please visit http://www.globalscopepartners.com/members for a full list of Globalscope’s members and locations.

For Globalscope enquiries, please contact

Michael Moritz on: +49 (40) 300 836-0, michael.moritz@catcap.de, or visit www.globalscopepartners.com

Purchase by Hörmann International Beteiligungs GmbH of IG Doors Limited

Corbett Keeling and CatCap, both members of the international mergers and acquisitions network Globalscope, are pleased to announce that their client Hörmann International Beteiligungs GmbH, has acquired IG Doors Limited from NVM Private Equity. The deal was completed on 6 June 2013.

The Hörmann Group, a family-owned German manufacturer of residential and industrial doors has acquired IG Doors, a manufacturer of steel and composite external doors for the housebuilding industry, from NVM Private Equity. The acquisition of IG Doors will help Hörmann to strengthen its presence in the UK market and in turn help IG Doors to develop new market opportunities.

IG Doors has been supplying an extensive range of high performance steel and glass reinforced polymer external door sets from its manufacturing facility in Cwmbran, South Wales for over 30 years. The company employs 181 staff and is now one of largest manufacturers of composite door sets in the UK with a strong position in the new-build residential market and an ever increasing presence in social housing development.

For more information and media enquiries, contact:

Simon Keeling on +44 (0)20 7626 6266

Michael Moritz on +49 40 300 836 0, michael.moritz@catcap.de, or visit www.catcap.com

New value creation service for integrators in the IT and Telecoms industry

Corbett Keeling and Equiteq are pleased to announce the launch of a new equity growth and realization service for owners of IT and Telecommunications Systems Integration companies who want to grow, raise finance or sell their businesses.

London (PRWEB UK) 21 April 2013

The Equity Growth Accelerator (EGA) has been launched because there has never been a better time for IT and Telecommunications System Integrators to plan their exit strategy, or raise finance for growth. Jim Keeling, joint Chairman of Corbett Keeling Corporate Finance said:

“The IT, Telecoms and Mobile worlds are converging like never before. This is creating new demand from customers and exciting opportunities for integrators to grow their businesses. Hence the mergers and acquisitions market is heating up, as companies join forces to fill skill gaps in adjacent service areas”

However, there are clearly risks to equity value in reacting to the allure of new revenue streams. Jim added:

“It is important that business leaders not to bend their companies out of shape in chasing these new opportunities. The key is to keep eyes on the strategic goals of the shareholders by making the firm attractive to financial investors and acquirers, and ultimately meet their valuation objectives. This is why we have launched a service, using the tried and tested Equiteq EGA methodology used in over 200 companies around the world, to help owners understand current value, model the path to the ideal target value, turn the company into a high value acquisition target, and if necessary, raise finance for growth along the way.”

Equiteq is a strategic advisory and mergers and acquisitions (M&A) transaction firm with a long track record in company valuation modelling and exit planning. Paul Collins, the Managing Partner at Equiteq said:

“Together with Corbett Keeling and Lee Shorten, the IT and Telecoms industry specialist, we’ve developed a valuation and growth planning tool that can rapidly establish what an integrator is worth today, what is driving its value up or dragging it down, model what the company could be worth if the gaps we have identified are overcome, and produce a plan to get there. Add to that Lee’s industry knowledge and Corbett Keeling’s corporate finance experience, and you have a powerful combination to maximize the value of an IT and Telecommunications Systems Integration company.

For more information and media enquiries

contact Jim Keeling on 0207 626 6266

Globalscope announces five new members to its M&A network

May 17th, 2013, at the semi-annual Conference in Moscow, the members of Globalscope voted unanimously in favour of admitting five new partner firms to their international network. Globalscope now has 31 partner firms in 24 countries including:

FIRST ATHENS joins the network as Globalscope’s sole member in Greece. An independent boutique corporate finance firm established in 2010, offering advisory services and private equity with experience in the following sectors: logistics, technology, mobile marketing and communications, cosmetics – healthcare, media, food, e-commerce & banking.

PORTOFINO INVESTMENTS is based in Tel Aviv, Israel, and is a mid-market independent investment bank firm founded in 2003. Led by a professional team of eight, Portofino offers buy-side, sell-side and merger advisory services to equity and debt capital markets. The sector base in Israel is particularly focused on technology, media, telecoms, water & agro-tech, and oil and gas.

NEXT CORPORATE joins the network as an additional member for Globalscope in Spain. Based in Barcelona and operating in the Catalan and Spanish mid-market since 1990, Next Corporate has worked on over fifty projects in M&A, equity fundraising, financial restructuring and corporate development, and has expertise in manufacturing, services & distribution, health & pharmaceuticals, leisure & tourism, and technology.

AUGEO VENTURES joins the network as Globalscope’s first member in Poland. Augeo Ventures offers buy-side and sell-side advisory services including fundraising since 2009 and has experience in TMT, construction, engineering, food, retail, financial services, manufacturing, pharmaceuticals and logistics.

SUMMA CAPITAL Oy is a partner-owned investment bank based in Helsinki. Founded in 2003, Summa has 12 professionals providing investment banking services in M&A, divestitures, financing and capital market transactions to its clients which include PE firms, financial institutions, Finnish and international publicly listed and private companies and their owners.

Michael Moritz, the President of Globalscope commented:

“All five new members bring with them expertise in key markets where the network was previously unrepresented. All are top M&A firms in their respective countries and we are delighted that they have chosen to join Globalscope over other networks. Many thanks to the combined effort of the Globalscope recruitment team which has greatly enhanced the success of the Moscow conference.”

Exit Strategies Seminar

HOW TO MAXIMISE VALUE ON EXIT FROM YOUR BUSINESS

14 March 2013, Mitre House*, 160 Aldersgate Street,
London EC1A 4DD

8.15 to 9.30am with registration and light breakfast from 8.00am

In conjunction with PE Director™**, Partners and Directors of corporate finance advisers Corbett Keeling, international
law firm CMS Cameron McKenna and bankers Kleinwort Benson will be speaking on Exit Strategies. The seminar will cover the selection of your exit route as well as the exit process itself, including trade sales, secondary buy-outs and IPOs. There is no charge for the seminar. You are very welcome to attend, and if you wish to do so, please register your interest by emailing your contact details to meganpeel@pedirector.com stating that you wish to attend.

SPEAKERS

CMS Cameron McKenna
Richard BullPartner
Private Equity Group

Corbett Keeling
Jim Keeling
Joint Chairman

Kleinwort Benson
Ben Whitworth
Head of Entrepreneurs and Senior Executives

Date/Time

14 March 2013, 8.15 to 9.30am, with registration and light breakfast from 8.00am

Who should attend

All directors and/or owners of businesses who are considering exits

* Mitre House is under 10 minutes walk from Moorgate, Barbican and St Paul’s tube stations.

** Private Equity Director or ‘PE Director’ is a newsletter for directors of private equity backed businesses (however, this seminar is open to and suitable for all directors and/or owners of businesses, whether private equity backed or otherwise).

European Funding Markets

As a valued contact of Corbett Keeling, you may be interested in our latest views on European Funding Markets.

These were set out by our joint chairman, Jim Keeling, and banker Gary Edwards, Head of Growth and Acquisition Finance at Investec, in a recent interview with private equity journal Unquote. To see the interview, please click here.

Please do get in touch us if you may need our firm’s funding or wider corporate finance services, including advising on the sale of businesses.

Sale of Aviation Logistics Company

Corbett Keeling is pleased to announce that its client ANA Aviation Services, an aviation logistics company, has been acquired by its management team backed by Lloyds TSB Bank plc. The deal was completed on 7 February 2013.

Corbett Keeling is a corporate finance advisory firm that advises owners on sales of or other exits from businesses, and management teams on buy-outs.

ANA provides airfreight solutions to customers across the globe especially in Africa. Started in 1985, it generates annual turnover and profits in excess of £100m and £3m respectively. It operates from offices in Holland, Belgium, Germany, France and the USA.

ANA’s two founders and former controlling shareholders are Andy Leslie and Andy King. They appointed Corbett Keeling as their adviser on this deal because of the firm’s combination of strong focus on selling businesses and understanding of funding markets for the purposes of management buy-outs (“MBOs”).

The funding package required loans in five separate countries. It also required the secured lender to take account of ANA invoicing its customers via the trade body IATA/CASS. Both aspects created an unusually high level of complexity in the transaction which was handled by Corbett Keeling and ANA’s other advisers.

Andy Leslie said: “The transaction was far more complex that I had initially realised. Dealing with banks and lawyers in various foreign jurisdictions as well as the UK and also ensuring that we were completely compliant with all the relevant tax authorities was no mean feat and Corbett Keeling managed the whole process with complete professionalism and utmost care – we could not have done it without them.”

For more information and media enquiries contact:

Jim Keeling +44 (0)20 7626 6266 or visit http://www.corbettkeeling.com/publications/private-equity-director/ to download our latest quarterly review of management buy-out activity.