Deals news: Hat-trick for UHY Hacker Young; Camlee; KBS & more
UHY Hacker Young’s specialist Manchester-based automotive team has completed a hat-trick of deals in a week.
The first was advising the shareholders of TH White Limited on the sale of its LandRover business to Cambria Automobiles for a total of £7.56m. David Kendrick, corporate finance partner at UHY was lead adviser to the transaction.
The second was the £7m acquisition of Bury Landrover for listed group Vertu Motors. Partner Paul Daly advised on this deal, while Kendrick acted on the disposal of two Hyundai businesses for Arrow Automotive in Bridgend and Swansea to Hutchings group.
Kendrick said the firm is seeing strong activity levels in the sector and is looking to recruit a corporate finance director to strengthen its team.
He said: “We see a lot of movement within premium franchises and expect this to continue moving forward.”
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PENNINE Way Preserves, a Lancashire manufacturer of jams and preserves has been sold in a management buy-in deal led by Bolton-based KBS Corporate.
The company, which makes and distributes its products in Garstang, was placed on the market due to outgoing shareholders John and Margot Humphreys’ planned retirement.
Tom Eatough, senior deal executive at KBS Corporate said: “Pennine Way Preserves produces fantastic jams and preserves and I am really pleased that we have secured a buyer for the company. Due to the high quality of products they produce, there was no shortage of interested parties who were looking for the opportunity to build on the successful brand that John and Margot have built.”
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CORPORATE finance adviser Camlee Group, based in Sale, has advised on a deal in which a midlands leathergoods firm was sold.
Joseph Clayton and Sons of Chesterfield in Derbyshire has taken over the assets of Walsall company J& E Sedgwick & Co, a deal creating the largest vegetable tanning group in the UK.
It said the acquisition – for an undisclosed sum – was initiated to fit with the long term plans of the shareholders and senior management of Claytons.
Paul Thompson, project director Camlee, said: “We were delighted to have advised the shareholders of J & E Sedgwick on this transaction.
“Clayton’s were one of a handful of potential acquirers that we identified right at the beginning of the process and we are pleased to have played a part in creating the largest vegetable tannery group in the UK.”
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CHESTER law firm Aaron & Partners has acted for property investment and development company William Fishwick & Son on its acquisition of Renfin’s shareholding in North Wales Hydro Power.
Stuart Haynes, corporate partner acted for the Chester company in relation to its purchase of the 50% stake in the hydroelectric company.
Haynes said: “It is rewarding to have been involved in a deal which encourages positive growth in the hydro industry in Wales, particularly on behalf of a fellow Cheshire firm.”
