Two successful transactions for Mercer & Hole’s Corporate Finance Team
M&H Corporate Finance, part of Mercer & Hole, were appointed to sell the trading activities of Klood Limited, a social media software market research company. In addition to finding a potential purchaser, this involved restructuring the whole company to allow the owners to keep the intellectual software which had supported the process. As a result of this division, it became apparent to all concerned that the purchaser would require, in the short term, significant input from the key management individuals at Klood, as well as needing to take over the bulk of the operating team. Defining what was for sale and the terms and conditions of the senior management required careful analysis, with input both from M&H Corporate Finance and the lawyers concerned. After robust negotiations a fair deal was agreed regards both price and terms. The deal was concluded in September 2015.
Management Buyout of Gardner Stewart Architects
Gardner Stewart Architects had previously been owned by one individual, who had offered the management the opportunity to buy him out as he wished to pursue other interests. The management consisted of four senior partners/associates of this 100 person firm. M&H Corporate Finance, part of Mercer & Hole, were appointed and initially asked for their advice to confirm that the price being offered was fair. The team considered the nature of the transaction, along with historical and forecast results for the business and the team assisted the management by introducing a number of financiers who were interested in supporting the transaction. This resulted in three offers of senior debt. Resulting in M&H Corporate Finance and the management team negotiating the offers through to a conclusion, with RBS winning the mandate. RBS then moved quickly, as requested by both the management buyout team and the vendor, to produce a creative lending route. This allowed the four purchasers to complete the transaction with only a minimal amount of deferred consideration being left in the business by the vendor. This deal also closed in September 2015.
Date: 23rd October, 2015
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