iDeals update (December 2016)
MBM’s corporate team have been busy over the past six months. We have seen a number of ‘Brexit’ related wobbles on transactions during the summer months although in most cases the deals have since completed after a period of reflection by international investors and trade buyers. In some cases we have also seen an increased appetite for UK deals as a result of foreign investors taking advantage of the fact that the deals just got cheaper as a result of the devaluation of Sterling. We will need to wait and see for how long this continues and the next immediate challenge will be the Article 50 process when it is finally invoked.
We can’t list all of the deals we have been involved with but we hope the deals which we have set out below help highlight what we have been up to and give you a flavour for some of the work that we regularly advise on. If you would like help on a deal or would like to discuss how you might structure one for you, then please feel free to get in touch with any of our corporate partners (Kenny Mumford, Michael Arnott, Tracey Ginn and Stuart Hendry) or your usual contact within the firm:
- advising Japanese acquirers of a UK oil and gas services company;
- advising the directors of Spark Energy Ltd in its internationally backed MBO transaction;
- advising the sellers of an international product supply company with the sale of a majority interest to international investors;
- advising Seraphim Space on the first closing of its £80m fund which is backed by international investors, space companies and the British Business Bank;
- advising TRI Capital in its investment in women’s sports clothing brand, Findra;
- advising Mercia Technologies on its seed investment in university spin-out, MofGen;
- advising Big Data For Humans on its funding deal with EC1 Capital and its strategic partnership deal with AirAsia;
- advising Cyan Forensics with its spin-out and seed investment round from Mercia Technologies and SIB;
- advising Trendzer on its investment from 24Haymarket and SIB;
- advising Albagaia with the sale of its joint venture stake in NovarumDX;
- advising CoInvestor on its £1.1m fundraising as it seeks to accelerate growth for its alternative investment platform;
- assisting in the sale of a chain of coffee shops in a pre-packaged sale out of administration;
- acting for Idle Man in an innovative ‘advertising-for-equity’ transaction with Channel 4 with a value of £2m;
- assisting Shot Scope, an innovative golf performance technology company, with its £1.6m fundraising;
- acting for Pyreos in its £1.8m fundraising from VC’s;
- assisting Archangel on investments in Ateeda Limited, Administrate Limited, NetThings and Arrayjet Limited; and
- assisting Kangaroo Self Storage raise substantial new lending with HSBC to fund investment in the existing stores and new store opportunities.
We would like to give a special mention to one of MBM’s fast growing clients, Spark Energy. The company was formed almost ten years ago and has grown to the point where it’s turnover is now in excess of £120m. CEO, Chris Gauld and CFO, Hamish Osborn should be applauded in securing significant further funding for the company from international investors whilst ensuring a very positive return to its shareholders and retaining the company’s headquarters in the UK.