Deals round-up: Baker Tilly; Aaron & Partners; Beever & Struthers
BAKER Tilly’s North West corporate finance team has advised on the sale of Solihull-based Willows Veterinary Centre and Referral Service to Sovereign Capital.
Willows was one of the first private small animal referral practices in the UK and has been providing care for referred patients for the last 22 years.
Sovereign Capital is a UK-based private equity firm investing in the healthcare services, education & training and business support service sectors.
Corporate finance partner Ian Latham said: “We worked closely with the partners to develop a strategy that facilitated growth in the business whilst respecting the ongoing culture and professional commitment of the staff. The partners at Willows will continue to support the business throughout the transition.
“The transaction is right for the partners both in terms of timing and value and, looking forward, there are real opportunities to grow and strengthen the business with the support of Sovereign Capital.”
Baker Tilly’s team included Ian Latham, Helen Brocklebank and David Baggott. Other advisers on the deal were Emms Gilmore Liberson, Spectrum Corporate Finance, Hazlewoods, Mansfield Partners, Pinsent Masons, Osborne Clark, CMS and Marsh.
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CHESHIRE law firm Aaron & Partners advised the founders and shareholders of Cheshire Roofing Supplies on its sale this summer to international supplier of specialist building materials, SIG plc.
Founded in 2000 by school friends Angus McKerracher and Gary Stuart, Cheshire Roofing Supplies operates from two depots in Crewe and Warrington, providing a wide range of roofing products.
Stuart Scott-Goldstone, head of the corporate team at Aaron & Partners, handled the transaction together with legal executive Amanda Wickstead.
Yorkshire-based IG is an international company with sales of more than £1.3bn which currently employs more than 9,000 people. Founded in Sheffield in 1957, SIG is listed as a FTSE 250 company and principally operates across nine countries in Europe.
Leeds-based Pinsent Masons acted for SIG plc, while Mark Bramall from accountants Dyke Yaxley in Shrewsbury also advised the vendors.
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ACCOUNTANCY group Beever and Struthers advised Lincolnshire housing association Boston Mayflower Group on its recent £165m fundraising.
It raised £150m on the bond markets and a further £15m from a private placing.
The firm said it was the first time a housing association has raised funds from both the public bond and private markets simultaneously.
As reporting accountant, Beever and Struthers was responsible for providing financial information in the bond prospectus, and confirming there had been no change in the financial position of the group since the latest audited accounts.
The £150m raised from the bond issue will be used to refinance its existing debt and support future growth. The association owns and manages around 5,000 homes.
