Deals round-up: EY acts on £38m sale; Four up for Sedulo

A TEAM from EY in Manchester has advised on the £38m sale of Ansell Lighting to a Japanese group.

Northern Ireland-based Ansell Lighting, which includes Warrington-based Ansell Electrical Products, has been acquired by Tokyo Stock Exchange-listed Endo Lighting Corporation in a deal worth £38m.

Osaka-headquartered Endo is a leading designer and seller of original lighting fixtures in Japan and internationally. The company, which was founded in 1967 and is listed on the Tokyo Stock Exchange, has a turnover in excess of £215m and a market capitalisation of £106m.

The EY team led by director Mark Clephan and senior manager Katherine Mutton, provided corporate finance advisory services to support the transaction.

Mr Clephan said: “The deal represents a significant milestone for Ansell and its management team, which has worked exceptionally hard to build the business since its inception. The management team will work closely with Endo – which is a strong strategic and cultural match for Ansell – as the UK company continues to develop and grow over the coming years.”

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MANCHESTER accountancy firm Sedulo has reported a busy October after its strategic finance team completed four deals in the month.

The team was set up in 2013 to provide access to funding for smaller businesses.

The transactions included a fundraising for telecoms business Gteq with a £300,000 acquisition funding arrangement with Royal Bank of Scotland and a further £150,000 by a regional fund.

A second deal saw an online gaming company attract a £30,000 equity investment for marketing by a high net worth investor, and a £70,000 overdraft was sourced for a client in the fashion industry.

The funding projects was completed by advising on a £150,000 SEIS and a £150,000 Enterprise Investment Scheme investment into a start-up business, MAN.UP Gymwear.

Sedulo managing director Paul Cheetham said: “We are delighted to complete these deals. It is often more difficult to complete on deals of this size than the larger deals, whilst we are currently looking at some of the larger deals too, we will try where we can to search for financing those that some of the other players simply won’t touch.

“We have a number of corporate finance transactions ongoing and we hope that we can announce completion of these larger deals in the coming weeks too.”