Gold Care Homes crowned winner of the Corbett Keeling “Family Business of the Year” award

On Friday 15 July 2016, over 350 family business leaders and entrepreneurs descended upon London’s iconic Wembley Stadium for the seventh annual Red Ribbon Awards – celebrating the achievements of Britain’s finest family-run businesses. After months of searching and interviewing, 11 family firms were crowned the winners of the UK’s most prestigious family business accolade. With over 3 million family firms in the UK as well as hundreds of entries for the Awards, the winners had to be exceptional.

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Family firm, Gold Care Homes were crowned winner of the Corbett Keeling ‘Family Business of the Year’ award. The judges commented “What started as the vision of two young brothers in the pharmacy industry, has transformed into a hugely-respected business with 20 care homes and over 1,100 residents. Gold Care Homes are a family firm who truly believe in taking a holistic approach and treating every patient as an individual. It’s a subject we all have to deal with as we get older and it’s refreshing to hear a business who’s main aim is to enhance people’s lives.”

Two companies were “Commended for Excellence” by the judges: Harlech Foodservice and Keelham Farm Shop.

Hosted by Family Business Place, and now in their seventh year, the awards seek to recognise and honour some of the most exciting, innovative and longstanding family businesses around the UK.

From 200 year old cheese makers in Yorkshire to second generation perfumers in London and sibling start-ups in Devon, the awards have become one of the most sough-after accolades in business. Amalia Brightley-Gillott, Director of Family Business Place says, “Family businesses are the shining stars of the British economy and the beating heart of our local communities, employing 1 in 3 people. Despite their incredible contribution they are often modest and shy about publicising their achievements and so we founded the Red Ribbon Awards to celebrate them. This year’s winners are national champions who all excel in their field and are true beacons of British commerce.”

To find out more about the Red Ribbon Awards and see a full list of winners visit https://familybusinessplace.com/events/red-ribbon-awards/

Essential City negotiation tactics!

The Corbett Keeling team enjoys a well-earned break learning essential City negotiation tactics during a gloriously sunny day in Berkshire.

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Finalists announced for the Corbett Keeling Family Business of the Year Award

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Congratulations to the 12 finalists for the Corbett Keeling Family Business of the Year Award.  These finalists will come together for one spectacular night at London’s iconic Wembley Stadium on 15th July where the National Winners will be announced. Previous winners have included The Entertainer, Pimlico Plumbers and Weston Cider.

Corbett Keeling advises on the Management Buy-Out of SEP, a speciality pharmaceutical and medical devices group

Corbett Keeling is pleased to announce that the management team of Speciality European Pharma Limited (“SEP” or “the Company”), has acquired the Company from its venture capital shareholders, with the backing of Juno Pharmaceuticals Inc. (“Juno”), an international speciality pharmaceutical company and leading life science investor.

The team at Corbett Keeling, led by Jim Keeling and Harry Knight, advised the management team on the buy-out, which completed in May 2016.

Commenting on Corbett Keeling, Patrick Banks, Chief Executive Officer of SEP, said: “Corbett Keeling created a way forward, where others could not, at a critical moment for the management team. Their access to the appropriate funders in the UK and overseas, and their ability to move quickly, were both crucial to making this transaction possible.”

Commenting on the Management Buy-Out, Jim Keeling, Chairman of Corbett Keeling, said: “Following the buy-out of SEP, the management team is extremely well placed to grow the business and realise the potential of its product portfolio. Together with backers, Juno, we wish them a successful future partnership.”

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Full press release

Corbett Keeling stands behind its employees and their lives outside work

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He is a great team player, on and off the pitch. We were proud supporters of our Saracens player, Jack Tredrea, at the recent match against the Combined Armed Forces.

Private equity investors still have plenty of funds to deploy on businesses with compelling stories to tell

The latest edition of UK Private Company Director, the newsletter for directors of owner-managed and private equity backed businesses, reports:

  • While private company deal activity appears to have dipped in the first quarter, partly because of Brexit concerns, private equity investors still have plenty of funds to deploy on businesses with compelling stories to tell.
  • The 2016 Budget introduced several new tax measures of importance to owners and managers of privately held companies, some of which will be welcome, others less so.
  • The current uncertainty over the Brexit referendum is leading to considerable volatility in financial markets but this may present some interesting opportunities for investors with a long time horizon.

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Global average Lower-Mid Market Transactions TEV/EBITDA Multiple has risen to its highest value in the last six years

In the six months to December 2015, the global average Lower-Mid Market Transactions TEV/EBITDA Multiple has risen to 9.6, its highest value in the last six years. This latest business valuation indicator is based on an analysis of 22,038 transactions in the period, of which 23% were categorised as cross-border.

Consumer sector companies commanded the highest valuations, with Lower-Mid Market Transactions TEV/EBITDA Multiples averaging 11.0. This is in contrast to the Industrials sector where the average was 8.6; although this is also up on its previous value of 8.0 in 2015 H1.

For further analysis of global business valuation trends and sector specifc commentary on Consumer, Financial Services, Life Sciences, Industrials, Services and TMT, download the latest edition of the Globalscope Newsletter

 

 

Optimistic outlook and high deal activity in the lower-mid market

We were delighted to co-host a thoroughly enjoyable drinks and discussion last month on “How long will the current bull market last?” and “Should business owners be selling now to prepare for a downturn?”.

Highlights from the evening were as follows:

“Kleinwort Benson is cautiously optimistic on the outlook for the UK and global equities markets.”

Andrew Thompson, Head of Multi-Asset Investing, Kleinwort Benson Private Bank

“We are seeing extremely high levels of deal activity as business owners seek to capitalise on current market optimism to sell on the up, and investors (whether trade or financial) look for better returns on their capital.”

Jim Keeling, Chairman and CEO, Corbett Keeling Corporate Finance

“Often acting for Private Equity sponsors, Hogan Lovells is seeing plenty of appetite amongst financial buyers for good quality, growing businesses.”

Robert Darwin, Corporate M&A Partner, Hogan Lovells

This event was co-hosted by the above named firms and UK Private Company Director, the newsletter for directors of owner-managed, family and private equity backed businesses.

For soft copies of Kleinwort Benson’s presentation, please click here and if you would like to subscribe to this publication, or be invited to similar events in the future, please email Alison Porter.

Heart of the City

Corbett Keeling is delighted to have been selected to join the Heart of the City Newcomers programme.

Heart of the City is a 700-strong powerhouse of responsible business leaders, all committed to sharing their experiences and their time with others in order to measurably improve our society . Through a London-based network of responsible business practitioners and change agents, Heart of the City offer firms like ours the tools and support to develop our responsible business plans.

Corbett Keeling is seeking to recruit

BEST

Corbett Keeling is actively seeking to recruit Big4 qualified chartered accountants with a minimum of three years of post qualification transactional experience. The ideal candidate:

  • shares our BEST values;
  • wants to take a leading role advising on and driving transactions;
  • would like to join and share in the profits of a small fast-moving elite corporate finance boutique; and
  • can help us leverage our unique platform of cross-sector expertise and City contacts to drive growth.

If you meet these criteria, please send your CV to info@corbettkeeling.com. For further information please call Emma Keeling on 020 7626 6266.