Rainmaker Awards 2017 shortlist revealed
The region’s top deals and the corporate financiers, lawyers and funders behind them, have been shortlisted for The Rainmaker Awards 2017, ahead of next month’s celebration of the successes of the North West corporate finance community.
Featured deals include the flotation of Blackburn-based toilet roll manufacturer Accrol, the sale of Clarke Energy to a US trade buyer for £300m, and Metronet’s acquisition of M247 for £47.5m
There are four names on the list for the prestigious Rainmaker title – the outstanding professional in the North West community who has been at the heart of significant activity during the last year. They are Grant Berry, NorthEdge; Jonathan Boyers, KPMG; Oliver Tebbutt, Deloitte and Simon Lord, GCA Altium.
The shortlists were all created by a panel of more than 35 members of the corporate finance community, reflecting the democratic and credible nature of The Rainmaker Awards.
With a multitude of deals to consider for the 12 months from April 1 2016 to March 31, 2017, including IPOs, secondary buyouts, private equity exits and more, the panel of high-level judges had a lot to discuss.
The winners will now be chosen by the corporate finance community on a one firm, one vote basis, by more than 100 professional firms, who will vote online in the coming weeks.
If your firm hasn’t received a voting code by Monday and you would like to be involved, please email nwoffice@thebusinessdesk.com.
Tickets are now on sale for the awards dinner, at The Midland Hotel, Manchester on June 15. Click here to buy your tickets
There are also sponsorship opportunities available – contact Sarah.Horsley@thebusinessdesk.com or Derek.Tierney@thebusinessdesk.com to find out how your business can benefit from being part of the Rainmaker Awards.
2017 Rainmaker Awards shortlist
The awards are not looking to recognise volume or size of transactions, but the significance of the transactions – the impact of the region, the transformational impact on the businesses involved in the transactions and innovative aspects of the deal.
Public Markets Deal of the Year
This award is looking to recognise the public markets deal – IPO, fundraising, acquisition or disposal – that has achieved significance through either value, complexity or strategic importance.
–JD Sports Fashion acquisition of outdoor clothing company Go Outdoors in a £128m deal.
Advisers: KPMG, Addleshaw Goddard, DLA Piper
-Flotation on AIM of Backburn-based Accrol, which manufactures toilet, kitchen and other tissue products. On admission the company had a market capitalisation of £93m.
Advisers: KPMG, Rothschild, Zeus Capital, Addleshaw Goddard
-Crewe-based off-licence operator Conviviality Plc acquired Bibendum PLB, which distributes and wholesales wine, spirit and beer and to the UK on-trade and off-trade markets. Conviviality raised £32m through a share placing to help fund the £60m deal.
Advisers: Zeus Capital, Investec Bank, DLA Piper, Eversheds Sutherlands, Fieldfisher LLP
-Chester-based ID specialist GB Group bought biometrics software business IDscan Biometrics for £45m. The listed company raised £25m through a share placing to pay for the acquisition, along with bank borrowing.
Advisers: Irwin Mitchell, Osborne Clarke, Squire Patton Boggs
Private Equity Exit Deal of the Year
This category speaks for itself – the most successful ROI from a portfolio investment.
-FTSE 100 packaging business Mondi acquired £40m turnover food packaging business Excelsior Technologies from Endless in a £33m deal. Endless’s Enact Fund invested in the loss making flexible packaging business alongside incumbent investor Growth Capital Partners in December 2014, securing 230 jobs across the business’ two sites in Deeside and Nelson. The business is forecast to deliver £5.1m EBITDA in 2017. The exit delivered a 9.1x return for Endless investors.
Advisers: Deloitte, Gordons
-Flotation on AIM of Backburn-based Accrol, which manufactures toilet, kitchen and other tissue products. The deal represents a partial exit for NorthEdge Capital, which retained around 15% of the company after the listing. NorthEdge backed the company from its maiden £225m Fund, taking a 46.25% stake.
Advisers: KPMG, Rothschild, Zeus Capital, Addleshaw Goddard, DWF
-Clarke Energy, the Knowsley-based distributed power generation specialist, sold to US trade buyer Kohler Power Group for around £300m. The deal marks an exit for private equity firm ECI, which invested more than £100m for a 30% stake in the business in 2012.
Advisers: KPMG, DLA Piper, Eversheds Sutherland
–LDC’s exit of Chorley-based Synexus, a global research site group which provides patient recruitment and treatment services in support of drug research for clinical trials, in a deal which valued the business at £178m. Synexus was acquired by Jaguar Holding Company Luxembourg and the transaction generated a 2.3x money multiple for LDC.
Advisers: Rothschild, DLA Piper
International Deal of the Year
Advisers who have worked on a high value strategically important transaction involving a non UK based purchaser or vendor.
–Clarke Energy, the Knowsley-based distributed power generation specialist, sold to US trade buyer Kohler Power Group, a private family-owned manufacturing business headquartered in Wisconsin, for around £300m.
Advisers: KPMG, DLA Piper, Eversheds Sutherland
-Chorley-based Synexus, a global research site group which provides patient recruitment and treatment services in support of drug research for clinical trials, was acquired by Jaguar Holding Company Luxembourg SARL in a deal which valued the business at £178m.
Advises: Rothschild, DLA Piper
–Scapa Group Plc, the listed manufacturer of technical tapes and cable materials based in Ashton-under-Lyne, acquired US firm EuroMed Inc, which manufactures medical devices in a£28.9m deal.
-Online retailer The Hut Group acquired US sports nutrition specialist for a figure believed to be about £77m.
Advisers: Stoneway Capital, Covington & Burling
Small Cap Deal of the Year (up to £15m)
This award is for the most strategically important regional transaction worth up to £15m. This award recognises outstanding technical skill and pragmatism.
-Warrington-headquartered retailer Sofology secured £10m from the Business Growth Fund to expand throughout the UK, including opening stores, expanding its fleet of delivery vehicles and strengthening its digital presence with a revamped website and mobile application.
Advisers: Addleshaw Goddard, Brabners, DWF
–Timpson Group acquired the dry cleaning business of Johnson Service Group Plc for £8.25m. The dry cleaning business comprises Johnson Cleaners UK Ltd and Jeeves of Belgravia Ltd.
Advisers: Investec Bank Plc, Mazars Corporate Finance, Gateley, Hill Dickinson
-Holmes Chapel-based Tyres On The Drive, a specialist in professional mobile tyre fitting, raised £8m in equity funding. Backers included strategic investor Halfords Group Plc, as well as existing shareholders MMC Ventures and True Capital.
Advisers: Jones Day
-Secondary MBO of Blackpool-based Healthpoint Ltd, which supplies fast moving consumer goods to the retail sector, specialising in the health and beauty markets. Maven Capital Partners provided funding in support of the £6.5m transaction with debt and working capital funding provided by Barclays.
Advisers: RPL Ltd, UNW LLP, Gateley, Schofield Sweeney
M&A Deal of the Year
This award is for the most strategically important regional transaction. This transaction will be recognised for both scale and the transformational nature of its impact.
–Clarke Energy, the Knowsley-based distributed power generation specialist, sold to US trade buyer Kohler Power Group for around £300m.
Advisers: KPMG, DLA Piper, Eversheds Sutherland
-The founder of specialist lender Together bought back the 30% stake in the company previously held by private equity firms Equistone Partners and SL Capital Partners for more than 10 years for £286.5m.
Advisers: Rothschild, Eversheds Sutherland
-Hulme-based Metronet (UK) Ltd, a provider of wireless and fibre internet services backed by Livingbridge, acquired internet infrastructure services business M247 Ltd based in Stretford for £47.5m.
Advisers: GCA Altium, Oakley Advisory, PwC, Signia Corporate Finance, Deloitte, Pinsent Masons, TLT LLP
-Blackburn-based petrol forecourt retailer Euro Garages agreed to merge with European Forecourt Retail Group (EFR), based in The Netherlands, to create a new holding company, Intervias. The merged group will have gross annual revenues of EUR6bn, and around 1,450 locations and 8,500 employees. Both Euro Garages and EFR are portfolio companies of TDR Capital.
Advisers: Rothschild
Out of Town Deal of the Year
Where North West advisers have led the way on a strategically important transaction outside the region.
-York-headquartered Mitrefinch, a developer of human capital management software with a turnover of around £15m, secured an equity investment of more than £20m from LDC in Manchester as part of an MBO.
Advisers: GCA Altium, KPMG, Squire Patton Boggs, DLA Piper, Harris Williams
-Flotation on AIM of Nottingham-based Van Elle Holdings plc, the UK’s largest geotechnical engineering contractor. The £80m listing on London’s AIM market raised gross proceeds of approximately £40m.
Advisers: Rickitt Mitchell, Deloitte, Eversheds Sutherland, Addleshaw Goddard
-Convex Capital led, structured and completed the sale of managed print services provider Maidstone-based Apogee Corporation to Equistone in a transaction valuing the business at £185m.
Advisers: Convex Capital, Rothschild, Deloitte, Pinsent Masons
-London-based Travel management firm Reed & Mackay sold to private equity firm Inflexion by previous private equity owners ECI Partners and Livingbridge. Terms of the deal were not disclosed but thought to be £100m+.
Advisers: Rothschild, Deloitte
Legal Team of the Year
The firm whose work has spanned not just one significant deal, but has been consistently at the heart of the key transactions in the region over the past 12 months.
Addleshaw Goddard
DLA Piper
DWF
Eversheds Sutherland
Pinsent Masons
Corporate Finance Team of the Year
The team that has led the way in the region. The shortlisted teams will have been consistently at the epicentre of significant transactional activity.
GCA Altium
Clearwater International
Deloitte
KPMG
Rothschild
VC/Private Equity Team of the Year
Fund-raisings, investment activity and successful exits should be taken into account, as well as the return on investment that the house has generated within the past 12 months.
ECI Partners
Equistone
LDC
NorthEdge
Palatine Private Equity
Funder of the Year
This award recognises the most active player in the regional corporate finance market in terms of both the quantity and quantum.
HSBC
Lloyds Banking Group
Tosca Debt Capital
Yorkshire Bank
Rising Star of the Year
The lawyer, corporate financier or banker under the age of 35, who has achieved great things in the sector over the past year.
Ben Thompson, DC Advisory
Dominic Orsini, GCA Altium
George Potts, NorthEdge
Richard Stark, KPMG
Rainmaker of the Year
The outstanding professional in North West corporate finance who has consistently been at the heart of the significant transactions over the past 12 months.
Grant Berry, NorthEdge
Jonathan Boyers, KPMG
Oliver Tebbutt, Deloitte
Simon Lord, GCA Altium
