Equity and debt providers each have their own investment criteria and thresholds concerning the size, sector, location and stage of development of a business. Companies seeking to raise capital need access to the most suitable financial investor. Corbett Keeling has devoted very considerable resource over the past 25 years to building strong relationships with over 200 providers of equity, debt and similar funding.
Corbett Keeling has advised Futuresource and its founders on joining a private equity backed family of high growth businesses.
About Futuresource Futuresource is a specialist research and knowledge-based consulting company specialising in market forecasts and intelligence reports. Futuresource provides essential data and strategic insight to a range of clients with an interest in the dynamic electronics and media industries including the largest well-known global brands. The founders of Futuresource had built a successful business over 20+ years and were looking to reduce their financial commitment and find a good home for the business as they stepped back.
Our role and added value Corbett Keeling was engaged to find and execute the best solution for Futuresource and the founders. We worked closely with Futuresource’s senior management over a number of months to identify and assess their strategic options, develop targeted business plans and structure the deal to capture value. Our approach achieved an optimal valuation for the exiting founders and a great home for the business.
Sarah Carrol, Co-founder of Futuresource, said: “As with most entrepreneurs, we have poured our hearts into our business and, although realising we would at some point need to step back, were cautious about beginning the process. The team at Corbett Keeling really were excellent at guiding us through the options and, when the time came, ensuring we secured the best deal with the best partner.” Ian Roper, CEO of Futuresource, said: “None of the Futuresource team had fully realised how much effort goes into preparing for and executing a transaction. I am extremely pleased we had the Corbett Keeling team working with us side-by-side throughout, their input was essential and added value both for the exiting founders and for the ongoing business.” Eric, Private Equity Principal, said: “We love this business and the management team’s plan for it. My thanks go to Corbett Keeling for connecting us to this opportunity and helping build a deal that works for all sides – they clearly know what we are looking for and drew out the key points.”
Corbett Keeling advised the founders and other shareholders of Air Charter Service Group Limited (“ACS”) on the sale of a minority stake in ACS to private equity investor Alcuin Capital Partners (“Alcuin”). ACS is a global leader in the aircraft charter market. Founded in 1990 by Chairman Chris Leach, it now employs a worldwide staff of more than 350 employees across 20 offices spanning six continents. The group offers private jet, commercial airliner and cargo aircraft charters, arranging more than 10,000 charters annually.
Justin Bowman, Chief Executive Officer of ACS, said: “The fact that this company has grown from the basement of a house to the largest charter brokerage in the world is a huge achievement and testament to our amazing team and corporate culture. However, we are still an ambitious organisation. Our growth to date has been entirely organic and, whilst we will continue to follow those strategies that have been successful in the past, we wish to accelerate our expansion through capital investments in both technology and acquisitions of complementary businesses.”
Chris Leach, Co-Founder and Chairman of ACS, said: “It was a pleasure dealing with Jim Keeling and his team throughout the process. We wanted to find the right partners and to do the right deal for us - Corbett Keeling delivered just that.”
Adrian Lurie, Partner of Alcuin Capital Partners said: “Air Charter Service is a leader in its field with a great team and strong track record of profitable growth. Their plans going forward are exciting and we are looking forward to working with them in this next phase of the business’ development. Corbett Keeling’s insight and understanding of ACS were invaluable and we were delighted to work with Jim Keeling and his team to bring the deal to a successful conclusion." ACS press release
Corbett Keeling advised the management team of Speciality European Pharma Limited (“SEP” ) on the acquisition of the speciality pharmaceutical and medical devices group from its venture capital shareholders with the backing of Juno Pharmaceuticals Inc. (“Juno”), an international specialty pharmaceutical company and leading life science investor. Headquartered in the UK, SEP is a speciality pharmaceutical and medical devices group that focuses on meeting the needs of the specialist physician. The Company was founded in 2006 and has grown rapidly over the past five years, with a commercial presence in much of Europe and a desire to grow beyond. The transaction provides the Company with the opportunity not only to continue its growth strategy with the existing products but also to invest for the long-term in the untapped potential in its proprietary development portfolio. 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."
Patrick Banks, CEO of Speciality European Pharma, 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." SEP press release
Corbett Keeling announces that private equity investor Alcuin Capital Partners ("Alcuin") has acquired a majority stake in Applied Market Information Ltd ("AMI"), a leading information and conference business, from its original founders and shareholders whom Corbett Keeling advised. With offices in the United Kingdom and North America, AMI is a leading provider of information services to the global plastics industry through syndicated reports, databases, digital magazines, consulting and conferences. AMI has grown steadily since it was founded in 1986, and this year will hold over 40 conferences for the plastics industry in Europe, the USA and the Far East – more than any other competitor world-wide. The team at Corbett Keeling, led by Jim Keeling, Francois Barou and Matt Dixon, advised the founders of AMI on the investment by Alcuin, which completed on 22 May 2015. The founders will continue to be actively involved in the business and have retained a significant minority stake. Sale of Applied Market Information press release
The management team of Advanced Power UK Ltd, the leading international developer of independent power generation projects, acquired the company from 3i plc in an MBO. Advanced Power develops and invests in power generation and related infrastructure projects in Europe and North America. Corbett Keeling provided targeted financial advice to the management team at key points during the MBO process and prior to that as the business was restructured.
Corbett Keeling advised Intrapharm Laboratories on raising debt funding in order to finance the company's acquisition strategy. Intrapharm Laboratories supplies both niche and branded pharmaceuticals to the NHS and international markets. Its team of professionals has many years of experience in the commercialisation of pharmaceutical products, taking them from registration to patient and thereby fostering a mutually beneficial relationship.
Corbett Keeling advised Alpha Financial Markets Consulting, a leading provider of consulting, benchmarking and implementation services to financial institutions in the UK, Continental Europe and globally, on the sale of their business to UK Private Equity group, Baird Capital, in a transaction valuing the company at £28m. This deal is a good example of the resurgence of Private Equity ("PE") interest in consulting firms with a strong growth history. Alpha attracted eight 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.
Xerxes Equity Ltd is an investment company, which was formed by John Cowley in 2011, with the intention of building a market leading group of building products manufacturers. Xerxes acquired four businesses from Eleco plc, an AIM listed company, including SpeedDeck Building Systems, Downer Cladding Systems, Stramit Panel Products and Prompt Profiles. Corbett Keeling has worked for many years with John Cowley, who has been conducting turnaround projects for the last 18 years, and introduced this opportunity to Xerxes Equity.
Explore Learning, the UK company with multiple English and maths tuition centres, led by founder Bill Mills, was sold to Graphite Capital. The controlling shareholding was acquired from a group of investors including the Spectrum Venture Management Fund and Wittington Investments Limited. Bill Mills and the senior management team re-invested the majority of their stake in the company. Corbett Keeling has worked with Bill Mills, who set up Explore Learning in 2001, over many years and advised him throughout the sale process and particularly on the terms of his reinvestment in the business.
Cantab Asset Management, the firm of independent financial advisers formerly known as Saunderson Asset Management, acquired Hodgson & Faraday, a fellow financial advisory firm. Corbett Keeling introduced the opportunity to Cantab and advised on the terms of the transaction.
Redeem, which recycles used mobile phones, print cartridges and other electronic devices, was acquired by a management buy-in team led by Curt Hopkins and Pete Petrondas and backed by Trevor Bayley, a founding partner of HgCapital. Corbett Keeling helped identify the opportunity for the buy-in team.
Ultra Motor, a developer of electric bikes and scooters as well as electric motor technology for commercial use, raised development capital. Corbett Keeling advised Ultra Motor on this fund raising.
Constantine Group plc, which invests in the logistics, manufacturing, property and renewable energy sector, backed the management buyout of The Green Company (Europe) Ltd, a renewable energy company specialising in the installation of onshore wind and solar farms. Corbett Keeling advised Constantine Group plc on the terms of the transaction.
Cordium (previously known as IMS Consulting), a provider of consulting and business support services for the wholesale asset management and securities sector, was sold to an investor led management team comprising both existing and new directors. The Buy-in Management Buy-out, or “BIMBO”, was backed by Sovereign Capital. Corbett Keeling advised Scott Wilson, the founder of IMS, and his co-shareholder, on the strategy for the sale of their business and on the execution of the transaction.
Frazer-Nash (Midhurst) Ltd, a company that designs and manufacturers food handling, processing and packaging machinery, was acquired by a management team led by Paul Mortlock. Corbett Keeling advised Paul Mortlock and the investor on implementing the transaction.
Micro Materials Ltd, a manufacturer of scientific analysis instruments, was acquired from Millbrook Scientific Instruments plc by a management team backed by David Harding. Corbett Keeling advised David Harding on the acquisition.
Gordon Laboratory Group, a provider of pathology services, raised development capital. Corbett Keeling advised Gordon Laboratory on this fund raising.
Efficio, a management consultancy focused on procurement and supply chain optimisation, secured a debt-financed equity release in order to provide funding for its shareholders. Corbett Keeling advised Efficio on this fund raising against a very tight time frame.
HCML, the UK’s leading independent provider of professional rehabilitation, case management and employment services to the insurance industry, solicitors and corporate clients, undertook a secondary management buy-out from 3i. Corbett Keeling advised Helen Merfield, CEO and founder of HCML on all aspects of the buy-out, including arranging funding, agreeing terms and managing the whole process on behalf of the management team.
The management team of Communisis Bath Business Forms and Economailer, leading UK manufacturers and distributors of business forms and stationery, acquired these companies from UK listed company Communisis plc in an MBO. The businesses were renamed Integrity Print. Corbett Keeling advised the management team, led by Mark Cornford, on all aspects of this MBO, including arranging funding, agreeing terms and managing the whole process on behalf of the management team.
The Keswick Enterprises Group, a UK-based private equity investor set up in June 2004 by John Harvey CBE and associates to invest in logistics and supply chain-related businesses, acquired Link Logistics Group, a provider of contracted logistics services for the food industry at both frozen and ambient temperatures. Corbett Keeling advised Keswick Enterprises on the terms of its acquisition and funding.
Creative Metal Coatings, a provider of metal coating and treatment services, raised private equity funding from EPIC Investment Partners. Corbett Keeling advised Creative Metal Coatings on this equity fund raising.
Dernier & Hamlyn, a manufacturer of lighting equipment, raised development capital from Endless LLP and acquired Tindle Lighting, a fellow manufacturer of lighting equipment. Corbett Keeling advised the company on its fund raising, which comprised a mixture of debt and equity, helped identify acquisition opportunities and advised on the terms of the acquisition of Tindle Lighting.
Exmet Building Products Group Ltd, a new company formed by John Cowley, Nigel Dickinson and Roger Hall, acquired Expamet Building Products Ltd, a manufacturer of specialist metal building products from Royal Bank of Scotland. The management buy-in was backed by GE Capital. Corbett Keeling advised the management buy-in team on all aspects of their acquisition, including raising finance and negotiating the terms of the transaction.
Harris Hill, a recruitment consultant specialising in the charity and not for profit sector, was sold to a management buy-in team backed by YFM Private Equity. Corbett Keeling advised the shareholders of Harris Hill on all aspects of the sale of their business, including identifying possible buyers, negotiating terms and managing the process throughout.
I2r Packaging Solutions Ltd, a company that designs and manufactures food packaging products, raised venture capital funding. Corbett Keeling advised I2r Packaging on this fund raising.
Keswick Enterprises, a UK-based private equity investor set up in June 2004 by John Harvey CBE and associates to invest in logistics and supply chain-related businesses, arranged an acquisition finance facility. Corbett Keeling advised Keswick Enterprises on this fund raising.
Tysers, a provider of insurance and reinsurance brokerage services, was sold to its management team in a funding and share re-structuring led by Christopher Spratt as Chairman and Chris Elliott as Chief Executive. Corbett Keeling advised on all aspects of this management buyout and shareholding restructuring, including advising the outgoing shareholders on the sale of their shares, the new shareholders on the acquisition of their shares, the company on the raising of finance and the terms of the transaction, and managing the process throughout.
BigHead Bonding Fasteners, a manufacturer of stainless steel fasteners for a variety of industries, was sold to its management team, led by Brian Giddings, and backed by EPIC Investment Partners. Corbett Keeling advised the management team on raising finance and the terms of the transaction and managed the whole process on behalf of the management team.
Satec, water and waste water treatment specialists, raised development capital. Corbett Keeling advised Satec on the strategy for raising finance.
Towry Law Insurance was sold by Towry Law plc to its management team, led by Martin Wright. The MBO was funded by Broker Network plc, a trade investor. Corbett Keeling advised the management team on finding and structuring the financing and on the design and terms of this highly unusual "trade-backed management buy-out" transaction.
Airsprung Furniture Group plc, a leading UK bed manufacturer, sold a minority shareholding to private investors. Corbett Keeling advised on the sale of this shareholding.
Advantage Healthcare, a leading healthcare services provider trading under the name BUPA Healthcare Professionals, was sold to a management team backed by Rutland Partners. Corbett Keeling advised the management team on raising finance, structuring the transaction and negotiating terms.
Explore Learning, provider of maths and English tuition to primary school aged children, raised development capital. Corbett Keeling advised Explore Learning on this fund raising.
Find.co.uk, one of the UK’s leading consumer finance portals, was sold to a management team backed by Electra Quoted Management and FF&P Private Equity. Corbett Keeling advised the management team on the entire process, including raising finance, structuring the transaction and negotiating terms.
Ashley House, specialists in funding the design and development of flexible and effective health and care properties, raised and refinanced equity and debt. Corbett Keeling advised Ashley House on this financial restructuring and fund raising.
Aspace Solutions, a provider of business security solutions and specialist consultancy services to the banking sector, raised equity funding and sold a minority stake to a trade backer. Corbett Keeling advised Aspace Solutions on this shareholder restructuring and equity financing.
Glencairn Ltd, an insurance broker, was acquired by its management team from Glensure Ltd, a subsidiary of Glenrand, a South African provider of risk advisory and financial services. Corbett Keeling advised the management team of Glencairn on the buyout of their business.
Binns & Co, a financial PR consultant, raised equity funding and acquired Winningtons, a Bristol financial PR business. Corbett Keeling advised Binns & Co on this fund raising and acquisition.
Opus Holdings Limited, a regional insurance broking and group benefits consultancy business, refinanced mezzanine and senior debt. Corbett Keeling advised Opus on this transaction.
Bentleys, a confectionary distributor, raised and restructured equity and debt funding. Corbett Keeling advised the management team on this fund raising.
iDCorp, a company involved in the research and development of individual track and tracing equipment, raised equity funding. Corbett Keeling advised iDCorp on this fund raising.
Linguaphone, a provider of self-study language learning products and associated support services, raised development funding from a consortium of institutional investors, including Inflexion Ltd. Corbett Keeling advised Linguaphone on this fund raising.
Opus Holdings Limited, a regional insurance broking and group benefits consultancy business, refinanced equity, mezzanine and senior debt. Corbett Keeling advised Opus on this transaction.
Radiant Networks, the pioneer of broadband wireless mesh technology, raised development capital from a group of institutional investors, including Advent Venture Partners and existing shareholders, Intel Capital and Sandler Capital. Corbett Keeling advised Radiant Networks on this fund raising.
ShipServ Ltd, a provider of ship supply management solutions, raised equity from a group of new and existing investors. Corbett Keeling advised Shipserv on this fundraising
Euroceltic Airways Ltd, an operator of a regional airline in Ireland, raised development capital. Corbett Keeling advised Euroceltic Airways on this fund raising.
Five Rivers, a provider of children’s fostering and care home services, raised debt funding and acquired a competitor. Corbett Keeling advised Five Rivers.
GB International Ltd, a distributor of optical and photographic equipment, was sold to Multivision GmbH, a German distributor of presentation products. Corbett Keeling advised the owners of GB International, including Yorkshire Fund Managers, whom we had originally introduced to the business four years previously, on their exit strategy, identifying and introducing possible purchasers and leading the negotiations with the trade buyer.
Opus Holdings Limited, a regional insurance broking and group benefits consultancy business, refinanced mezzanine and senior debt. Corbett Keeling advised Opus on this transaction.
Radiant Networks, the pioneer of broadband wireless mesh technology, raised development capital as a convertible loan. Corbett Keeling advised Radiant Networks.
TEG Environmental, a designer and supplier of silo-cage systems for composting organic waste, raised equity funding. Corbett Keeling advised TEG environmental on raising finance.
Actif Group, distributor of branded dancewear and UK licensee for Elle, raised equity funding and was introduced to AIM. Corbett Keeling advised Actif Group on its flotation and raising of finance.
Bentleys, a confectionary distributor, was acquired by a management buy-in team led by Derek Durrant. Corbett Keeling advised the management team on the acquisition and on raising equity and debt funding.
Daisy & Tom, the specialist children’s retailer, raised funding as a convertible loan. Corbett Keeling advised Daisy & Tom on raising funds and restructuring existing capital.
Linguaphone, a provider of self-study language learning products and associated support services, raised equity funding from two private equity investors. Corbett Keeling advised Linguaphone on raising this equity finance and restructuring existing capital.
Radiant Networks, the pioneer of broadband wireless mesh technology, secured second-stage financing from a range of institutional and private investors, including Advent Venture Partners, Intel Capital, executives of Kohlberg Kravis Roberts and Sandler Capital Management. Corbett Keeling advised Radiant Networks on this equity fund raising.
Virgin Cars Ltd, trading as virgincars.com, an online service launched by Virgin Group to provide a total motor vehicle sales and after-sales package, raised development capital. Corbett Keeling advised Virgin Cars on raising development capital to support the launch of the business.
Linguaphone, a provider of self-study language learning products and associated support services, raised equity funding and restructured debt by way of a rights issue, an issue of convertible preference shares and an issue of warrants to subscribe for ordinary shares. Corbett Keeling advised Linguaphone on the funding and issue of shares and share warrants.
CASEwise Systems Ltd, a developer of software to help improve business processes, raised debt finance. Corbett Keeling advised CASEwise on obtaining debt finance and negotiating terms.
Radiant Networks, the pioneer of broadband wireless mesh technology, raised development capital. Corbett Keeling advised Radiant Networks on raising this funding.
Advent Capital, an insurance underwriter, raised equity funding by way of a rights issue. Corbett Keeling advised Advent Capital on this transaction.
GB International Ltd, a distributor of optical and photographic equipment, raised equity and debt with release of personal guarantees from Yorkshire Fund Managers and a group of private investors. Corbett Keeling advised GB Internationial on this fund raising.
Radiant Networks, the pioneer of broadband wireless mesh technology, raised start-up funding. Corbett Keeling advised Radiant Networks.
Actif Group, distributor of branded dancewear and UK licensee for Elle, raised equity and debt finance and issued one A share to Ted Baker plc. Corbett Keeling advised Actif Group on this fund raising.
CASEwise Systems Ltd, a developer of software to help improve business processes, raised equity capital from a syndicate of institutional and private investors. Corbett Keeling advised CASEwise on raising this finance.
Actif Group, distributor of branded dancewear and UK licensee for Elle, raised equity and debt finance and issued one A share to Ted Baker plc. Corbett Keeling advised Actif Group on this fund raising.
Actif Group, distributor of branded dancewear and UK licensee for Elle, raised equity and debt finance and issued one A share to Ted Baker plc. Corbett Keeling advised Actif Group on this fund raising.
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