MBO of Rowan International

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2017-12-14T13:37:11+00:00

HMT, led by Partner Paul Read, Manager Tom Bradbury and Executive Corin Briault-Hutter undertook financial due diligence for Connection Capital on their investment in Rowan International to support the management buy-out. Founded 30 years ago, Rowan International is one of Europe’s largest residual stock management distributors, which specialises in buying and re-selling branded goods to the discount market. The company purchases surplus stock of fast-moving consumer goods such as leading-brand toiletries and cosmetics or household items that are [...]

Investment in Xupes by Downing LLP

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2017-06-06T10:54:32+00:00

Investment in Xupes by Downing LLP HMT LLP led by Partner Paul Read undertook financial due diligence for Downing LLP (“Downing”) on their investment in leading retailer of pre-owned luxury goods Xupes Limited (“Xupes”). Founded in 2009 by Frank and Joseph McKenzie, Xupes has grown from its roots as a family business to one of the leading retailers of pre-owned luxury goods, employing approximately 25 members of staff. As well as selling high-end watches, jewellery, handbags, fine arts and antiques, [...]

Investment in My 1st Years by Beringea

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2017-06-06T10:54:32+00:00

Beringea invests in My 1st Years HMT LLP led by Partner Andrew Thomson undertook financial due diligence for Beringea LLP (“Beringea”) and Hargreave Hale (“Hargreave”) on their £5 million growth capital investment in personalisation site for children’s products My 1st Years. My 1st Years is an ecommerce company that provides personalised gifts for babies and children. The company was founded by Daniel Price and Jonny Sitton in 2009, and has since become a favourite with celebrities including Dannii Minogue and [...]

Investment in Channel Mum by NVM

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2017-06-06T10:54:33+00:00

NVM invests in Channel Mum HMT LLP led by Partner Andrew Thomson and supported by Directors Peter Wear and Holly Bedford-Bell and Senior Manager Julia Carruthers, advised Channel Mum Ltd (“Channel Mum”), the UK’s first parenting Youtube community on their recent equity fundraising with NVM Private Equity (“NVM”). Siobhan Freegard, the Founder and Managing Director of Channel Mum is a highly successful entrepreneur who founded in 2000 the UK’s biggest parenting website Netmums. In 2011, HMT advised Siobhan and the [...]

Investment in Thread by Beringea

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2017-06-06T10:54:33+00:00

HMT advises on Beringea's investment in Thread HMT, led by Partner Andrew Thomson undertook due diligence for Beringea LLP (“Beringea”) on their investment in UK men personal styling service provider Thread Ltd (“Thread”). Founded in 2012 by entrepreneurs Kieran O’Neill, Ben Phillips and Ben Kucsan, Thread is a free online personal styling service, offering tailored advice to men on how to dress. Thanks to their unique combination of personal stylists and algorithms, Thread is able to sort millions of items [...]

Investment in Little Black Dress

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2017-06-06T10:54:33+00:00

HMT helps online fashion retailer Little Black Dress source funding for growth following launch of exclusive Alesha Dixon range HMT, led by Partner Ian Barton arranged and advised on the development capital investment in Little Black Dress who have just launched their Spring/Summer collections including exclusive designs from Alesha Dixon. Based in Manchester, Little Black Dress is a leading fashion brand specialising in occasion wear. Their online store offers a wide range of party and occasion dresses from renowned brands [...]

Acquisition of Aston Mead by Leaders Ltd

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2017-11-30T10:32:22+00:00

Acquisition of Aston Mead by Leaders Ltd HMT LLP led by Partner Andrew Thomson undertook financial due diligence for independent residential property group Leaders Limited (“Leaders”) on their acquisition of Home Counties estate agents Aston Mead Ltd (“Aston Mead”). Since starting as a single branch in Brighton over 30 years ago, Leaders have grown by delivering an excellent local property service and by acquiring reputable businesses to bring their service to new towns and cities across the UK. The recent [...]

Disposal of Friarwood Wine

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2017-11-24T21:42:29+00:00

Disposal of Friarwood Wine HMT LLP led by partner Ian Barton and tax director Holly Bedford has recently advised the shareholders of Friarwood Limited (“Friarwood”) on its business and assets disposal to a private Canadian buyer. Established in 1967 by the late Peter Bowen, Friarwood established itself at the forefront of the fine wine market in the 1970s and 1980s sourcing directly from the great Bordeaux houses and was recognised as one of the most dynamic independent wine merchants in [...]

Investment in Watchfinder by Beringea and Piton Capital

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2017-06-06T10:54:34+00:00

Investment in Watchfinder by Beringea and Piton capital HMT LLP led by director Paul Read and manager Adrian Howells advised Beringea LLP (“Beringea”) and Piton Capital LLP (“Piton Capital”) on their £6.4 million investment in UK leading pre-owned online watch retailer Watchfinder.co.uk Ltd (“Watchfinder”). Founded in 2002, Watchfinder is the UK market leader in pre-owned luxury watches, having sold over £120 million worth of luxury brands such as Rolex, Cartier, Tag Heuer, Breitling, Omega, and Patek Philippe, as well as [...]

Disposal of The History Press Inc. to Arcadia Publishing

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2017-06-06T10:54:34+00:00

Disposal of The History Press Inc. to Arcadia Publishing HMT LLP, led by partners Mark Lucas and Andrew Thomson and director Holly Bedford, advised private equity backed The History Press Ltd (‘The History Press’) on the disposal of their US subsidiary The History Press Inc. to American publisher Arcadia Publishing (‘Arcadia’).  The History Press is a UK-based publishing group of distinctive ‘general and local interest' history books with subsidiaries in Western Europe and the US. The History Press has published [...]

MBO of GMG Property Services Group

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2017-11-29T20:14:52+00:00

HMT, led by director Paul Read, undertook financial due diligence for leading mid-market private equity firm LDC and management, on the buy-out of GMG Property Services (Holdings) Limited (“GMG”), the UK’s leading provider of software services to estate agents. LDC supported the £17.8 million MBO. Luton-headquartered GMG was founded in 2007 and is the UK’s largest supplier of software, technology and design solutions to the property industry. The business, which employs over 170 people across its network of [...]

MBO of Virgin Wines

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2017-11-29T20:18:05+00:00

HMT, led by partner Andrew Thomson and director Paul Read, undertook financial due diligence for leading private equity firm Mobeus Equity Partners (“Mobeus”), Connection Capital and management, on the buy-out of Virgin Wine Online Limited (“Virgin Wines”), the major UK wine retailer. Norwich based Virgin Wines was founded in 2000, and sells boutique high-quality wines produced by small independent winemakers.  The business, which employs approximately 160 staff, had revenues of £35m in the year to June 2013, and [...]

Acquisition of Oki-Ni Limited

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2017-11-29T20:42:55+00:00

HMT, led by partner Andrew Thomson, director Paul Read and associate director Holly Bedford, advised MenInvest SAS (“MenInvest”), a French menswear-focused media, e-commerce and publishing group, on the acquisition of Okini Limited (“Oki-Ni”), a UK online retailer of premium designer menswear. Founded in 2010 by media entrepreneur Marc Ménasé, Paris-based MenInvest offers over 300 apparel and accessories brands and three private labels to a customer base spanning 80 countries. The business attracts more than 2 million unique monthly [...]

Disposal of Stratford’s Wine Shippers and Merchants

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2017-11-29T21:05:02+00:00

HMT, led by partner Andrew Thomson, advised the Directors of Stratford’s Wine Shippers and Merchants Limited (“Stratfords”) on the disposal of the trade and assets of the business. Stratfords is an established wine importer and distributor of new and old age wines across the UK. The business has been distressed due to the recent loss of 2 major customers and the Directors therefore decided to dispose of the business. In an accelerated divestment process, HMT prepared the business [...]

Refinancing of Braeforge Limited

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2017-11-29T21:16:46+00:00

HMT, led by partner Andrew Thomson, advised the management of Braeforge Limited (“Braeforge”) on its recent development capital fundraising. Equity was secured from a consortium of investors from the dairy industry, and provided essential working capital to support the company’s continuing growth. Braeforge is a leading UK based dairy producer and distributor across the south of England. The company has a network of seven distribution centres supplying a significant customer base of both residential and commercial consumers, delivering [...]

Acquisition of Capri Foods Limited

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2017-11-29T21:20:04+00:00

HMT, led by partner Andrew Thomson and associate director Holly Bedford, advised a buy-in team on the acquisition of Capri Foods Limited (“Capri”). Capri is a family owned and run business specialising in the supply of high quality Frozen Pizzas and Crusts to a wide range of customers throughout the UK since 1984. The EEC Approved factory operates a full HACCP system and has achieved Grade A EFSIS accreditation. The new owners hope to expand the operations and [...]

Investment in Farfetch.com by Advent Venture Partners

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2017-11-29T21:47:00+00:00

HMT, led by partner Andrew Thomson, advised Advent Venture Partners LLP on their investment of $4.5 million in farfetch.com E-commerce Solutions Limited. Launched at the end of 2008, farfetch.com is an online fashion marketplace which aggregates stock from 44 boutiques across Europe and the USA to create one online store which offers a wide range of clothing and accessories from a diverse selection of designers, alongside editorial content.  Orders are placed on the site but fulfilled by the [...]

Secondary buyout of Secomak Holdings Limited

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2017-11-29T21:51:31+00:00

HMT, led by partner Andrew Thomson, advised the shareholders of Secomak Holdings Limited on the secondary MBO of the company, supported by asset finance from Lloyds TSB. As part of the transaction, loan notes from the original MBO of the company in 2005 were repaid and additional working capital to support the company’s growth plans has been secured. The transaction also provided an opportunity for the shareholders to realise their investment in the business under the current CGT [...]

Disposal of Donatanonio Limited

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2017-11-29T22:36:31+00:00

Led by partner Andrew Thomson, HMT advised the Shareholders of Donatantonio Limited (“Donatantonio”), an ongoing client of HMT, on its disposal to a BIMBO team led by Steve Asplen. The transaction was funded by Beringea who also introduced Steve to the management team. Donatantonio was established in 1902 by Luigi Donatantonio as a Mediterranean retail outlet in central London, servicing Britain’s growing Italian population. During the 1950’s and 1960’s, Donatantonio moved from retail to distribution and started to [...]

Management buyout of Bottlegreen

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2017-11-29T22:44:44+00:00

HMT, led by partner Andrew Thomson, acted as reporting accountants for Piper Private Equity and HSBC in their funding of the management buyout of Woodchester Enterprises Limited trading as Bottlegreen. Mr Simon Speers, Managing Director, was appointed to allow the founders to step back from the business with a view to its subsequent disposal. Mr Speers, together with Mr Nick Clay (Finance Director), Mr Paul Martin (Operations Director) and Mr Stephen Davies (Non Executive Chairman), saw the opportunity [...]

Management buy-in buy-out of Action Sports Media Limited

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2017-12-08T15:52:02+00:00

HMT, led by partner Andrew Thomson, acted as reporting accountants for Electra Quoted Management and Clydesdale Bank plc in their funding of the BIMBO of Action Sports Media Limited and the simultaneous acquisition of Permanent Publishing UK Limited and 4130 Publishing Limited. Darryl Newton and Patrick Franklin, directors of ASM, together with Alastair Ramsay, the previous CEO of Dennis Publishing, which published Maxim, This Week and Auto Express, and James Carter, a current director at Dennis Publishing (“MBO [...]

Acquisition of the Patisserie Valerie group of companies

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2017-11-29T23:07:48+00:00

HMT, led by partner Andrew Thomson, acted as reporting accountants for Risk Capital Partners on its acquisition of the Patisserie Valerie group of companies. The original Patisserie Valerie business was established in 1926, and came into the ownership of the current owners, Victor, Enzo and Roberto Scalzo (all brothers), in 1987. The Patisserie Valerie Group has grown considerably in recent years with the opening of new branches, and today it operates eight cafes and a brasserie at sites [...]

Investment in Seafood Holdings Limited

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2017-11-29T23:10:38+00:00

HMT, led by partner Andrew Thomson, acted as reporting accountants for Risk Capital Partners on its investment in Seafood Holdings Limited. Seafood was originally established by Mr Toby Baxendale in June 2001 as a seafood distributor. The decision to enter into the seafood industry was to compliment Mr Baxendale’s long established meats business, Billfields, with the consumption of fish increasing as consumers move away from meat. Andrew Thomson commented: “Seafoods has been pursuing a buy and build strategy [...]

Disposal of Swindon Autos

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2017-11-30T10:29:08+00:00

HMT, led by partner Andrew Thomson, negotiated the disposal of Swindon Auto’s together with the project management of the process. Swindon has been trading for approximately 20 years, selling new and used cars, car parts and servicing.  The dealerships are Saab, Seat, Jaguar, Mazda and Citroen. Andrew Thomson commented: “Having acted for Swindon Auto’s for over 10 years, I was pleased to advise Cambria on the sale which has effectively allowed John Sudbury to retire from Swindon and [...]

Management buyout of Fisher Outdoor Leisure plc

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2017-11-29T23:20:54+00:00

HMT acted as reporting accountants to ISIS Equity partners and HSBC in the management buyout of Fisher Outdoor Leisure plc (“Fisher”). Fisher was established in 1934 and has grown to be a major distributor of bike components and cycling accessories. The company enjoyed substantial growth in demand in the 1980’s due to the BMX craze and in the 1990’s with the trend for mountain bikes and associated accessories. Growth in the last few years has been driven by [...]

Sale of Heathrow Limited for £4.6 million

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2017-11-29T23:23:48+00:00

Led by partner Andrew Thomson, HMT advised Mr Brian Johnston and the other shareholders of Heathrow Limited on its sale to HR Owen plc for £4.6 million. HMT acted as lead advisers in the transaction which included detailed negotiations with HR Owen plc. Heathrow Limited was acquired by Mr Johnston in 1994 and Andrew Thomson also advised Mr Johnston in the original acquisition. Since the management buyout, HMT were retained as auditors and tax advisers to Heathrow Limited. [...]

Management buyout of Secomak Limited

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2017-12-08T16:12:07+00:00

HMT negotiated the management buyout of Secomak, from its parent company, Halma plc. Middlesex based Secomak was established in 1902 and since then, has become a leading name in the provision of innovative drying and shrinking solutions to the beverages and food markets. HMT acted as financial advisors to the management team, which included negotiating the purchase price, securing debt funding and project managing the various parties through to completion. HMT commented: “We were delighted to assist the [...]

Acquisition of Reflex Limited

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2017-11-29T23:32:52+00:00

  HMT advised Mr Andy Brymer, managing director, on the acquisition of Reflex Limited, the Reading-based re-seller of audio visual equipment.  Reflex Limited was established in 1983 to exploit the opportunity for providing solutions for displaying computer generated images to end users. The business now employs 32 staff and sells principally to the corporate, MOD and education market.  The opportunity to purchase the business came about when the Board of the parent company, Visual Presentation Holdings Limited, decided [...]

Acquisition of Nugent Westward Limited

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2017-12-08T16:31:51+00:00

HMT acted as reporting accountants to Smile Store Limited’s acquisition of Nugent Westward Limited for an undisclosed sum. Established in 1998, Smile Store owns and operates a regional network of 55 convenience and 23 confectionery-tobacco-news stores in the South West.  Smile Store employs around 1,000 staff. In pursuit of its strategy of growth by acquisition, Smile Store has added a further 25 stores to its estate with the acquisition of Nugent Westwood. Andrew Thomson commented: “The acquisition and [...]

Sale of Caterham Cars Limited

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2017-11-29T23:49:07+00:00

  HMT advised the shareholders of Caterham Cars Limited ("Caterham Cars") on the sale of the company to Corven Ventures for an undisclosed sum. Established in the 1960’s, Caterham Cars manufactures and sells the Caterham Seven sports car in both kit and fully built form. There are four variants of the Caterham 7 in production; the Classic, the Roadsport, the Superlight and the CSR that can all be used on the road or for track racing. Caterham Cars [...]

Development capital for Kate’s Cakes Limited

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2017-11-29T23:54:49+00:00

  HMT was appointed by Royal Bank of Scotland to carry out the financial due diligence for development/expansion capital for Kate’s Cakes Limited. Kate’s Cakes Limited is a provider of high quality cakes and desserts to major retailers and coffee shops.  It was subject to an MBO in December 2001, which was backed by Royal Bank of Scotland, since when it has continued its rapid growth based on providing high quality and innovative products. Royal Bank of Scotland [...]

Management buyout of Infrastructure Division of Notability Solutions plc for £4.15 million

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2017-12-08T16:50:35+00:00

Notability Infrastructure, the Frimley based IBM reseller, has been sold to its management for £4.15 million. The management team was lead by Steve Ellis and Dave Harper with funding from Barclay Ventures, Beringea and Barclays Bank. HMT was appointed to undertake the financial due diligence. Andrew Thomson, the partner who led the team commented: “HMT has regularly acted for both Barclay Ventures and Beringea and we were delighted to be instructed on this transaction. Although Notability Infrastructure is [...]

Public to private management buyout of Donatantonio plc for £12 million

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2017-11-30T09:08:20+00:00

HMT advised the management team on its public to private management buyout of Donatantonio plc ("Donatantonio"), the Borehamwood based importer and distributor of premium quality Mediterranean food products. Donatantonio was established in 1902 by Luigi Donatantonio as a Mediterranean retail outlet in central London, servicing Britain’s growing Italian population. During the 1950’s and 1960’s, Donatantonio moved from retail to distribution and started to supply food manufacturers with Mediterranean ingredients. In 1997, it was listed on the London Stock [...]

Management buy-in buy-out of Crantock Bakery

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2017-11-30T09:23:34+00:00

HMT advised the management team in its buy-in/buy-out of Crantock Bakery, the Newquay-based manufacturer of premium Cornish pasties.  Crantock Bakery was established in 1980 by Frank Bradshaw, who began producing pasties as a sideline in his butcher’s shop. The business now employs 77 staff and operates from a 25,000 square foot factory where it has the capacity to produce over 80,000 pasties per day. Its principal activity remains the manufacture of the traditional Cornish pasty, however its product [...]