Success for Hart Shaw Corporate Finance at Insider Dealmakers Awards

Hart Shaw Corporate Finance were part of the winning team for the Deal of the Year (£5m +) award at the Insider Sheffield City Region Dealmakers Awards.

Acting as lead adviser to Purex International Ltd along with hlw Keeble Hawson Solicitors, Hart Shaw represented directors Andy Easey and Trefor Jones in the purchase of the fume extraction system manufacturer from its parent company Domino Printing Services plc.

The winning team, including Patrick Abel and Joshua Greveson from Hart Shaw Corporate Finance

The awards, which celebrate the successes of a resurgent 12 months in the industry, were hosted by rugby legend Martin Bayfield and held at the St Paul’s Mercure Hotel in Sheffield. Professionals from Yorkshire’s top professional advisory firms were praised for “putting in the hours to get deals in place” and for boosting the region’s economic recovery.

Commenting on the deal, MD of Purex International Trefor Jones, said “An MBO is a complex transaction, in our experience if you are to succeed you need the best advisers available working for you.

“In selecting Patrick Abel at Hart Shaw we had someone on the team who has a proven track record in completing corporate finance deals over a number of years. From day one Hart Shaw had a positive effect, starting with their interaction with the Vendor’s advisers and their help and advice in structuring the deal. The team were on hand to facilitate the progression of the deal through to completion.”

From Hart Shaw’s perspective, the awards capped off a busy few months for the Corporate Finance team, with new Corporate Finance Partner, Patrick Abel joining the firm in November 2014 and completing a hat-trick of deals in early 2015.

In addition to the £5m + Deal of the Year award, Hart Shaw were also shortlisted for the Mid-market Deal of the Year (sub £5m) for representing the The Floow Ltd, who received significant investment from Direct Line and the Corporate Finance Advisory Firm of the Year.

Individually, Hart Shaw’s Corporate Finance Executive, Joshua Greveson was shortlisted for the Emerging Dealmakers of the Year awards, with Corporate Finance Partner, Patrick Abel shortlisted for the Dealmaker of the Year award.

“Patrick Abel comments: “It has been a hectic few months since I joined Hart Shaw with the deal markets picking up to levels not seen since before the recession.

“Receiving this award is a great accolade for Purex International who are continuing to grow their business and invest into new markets. We are proud to have played a key role in helping them to achieve their objectives.”

For more information about Hart Shaw’s Corporate Finance services please contact Patrick Abel on 0114 251 8850 or patrick.abel@hartshaw.co.uk.

 

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Directors at fume extraction specialist complete MBO from parent company

Two directors at Rotherham fume extraction specialist Purex International Ltd have acquired the

Formative period: l to r Andy Easy and Trefor Jones from Purex International with Paul Trudgill from hlw Keeble Hawson and Patrick Abel from Hart Shaw.

business from its parent company Domino Printing Sciences plc in a management buyout.

Hart Shaw and hlw Keeble Hawson represented Andy Easey and Trefor Jones in the purchase of Purex International which has a turnover of around £10m and operating profits in excess of £1.8m. Purex manufactures fume extraction systems for blue chip manufacturing companies worldwide.

Employing 30 people, the business has been part of the Domino Group – which develops and manufactures printing technologies for manufacturers via a global network of 25 subsidiary offices and over 200 distributors – since 2004.

Said MD Trefor Jones: “Hart Shaw and hlw Keeble Hawson have a wealth of expertise in MBOs and have added immense value to the purchase. Andy and I, along with our team, are excited by the opportunity to develop new markets and applications and our plans include further investment in new products.”

Paul Trudgill, managing partner at hlw Keeble Hawson, commented: “Purex International has earned a powerful reputation as a world leader in its field and we wish Trefor and Andy and the team every success at this formative period in the company’s development.”

Patrick Abel, corporate finance partner at Hart Shaw, said: “It has been a real pleasure working with Trefor and Andy on this deal. The Company has world class products and a global client base, offering excellent growth prospects for the future.”

 

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Secondary buy-out for specialist engineering business

Advisers Hart Shaw and ABN AMRO Commercial Finance have completed a secondary buy-out for a local specialist manufacturer of engineered products.

The deal sees the major shareholder of the business complete the buy-out of private equity investors from a previous management buyout of the company.

The deal structure saw a combination of Invoice Finance and term loan provided to meet the consideration and provide ongoing working capital, overseen by James Elliott of ABN AMRO Commercial Finance.

Hart Shaw acted as lead adviser for the transaction, with Corporate Finance Partner Patrick Abel negotiating and project managing the deal.

Patrick Abel, Corporate Finance Partner at Hart Shaw

Patrick Abel of Hart Shaw comments: “It is very gratifying to work with ABN AMRO on this deal, with James Elliott stepping in at short notice to work to a very tight deadline. The structure for the funding is exactly what we required and helped push the deal through within the timescales required.

“This deal gives the business owner more control and is a fantastic success story after the initial management buy-out in 2008.”

James Elliott of ABN AMRO Commercial Finance

James Elliott of ABN AMRO adds: “ABN AMRO were delighted to work with Hart Shaw in supporting this transaction and ensuring it completed within the desired timescales. The process was extremely well managed by Patrick Abel, ensuring the various parties were all available over a busy Christmas period so that the deal could complete early in January.

This is a well established business with an excellent reputation and strong management team. The new structure should enable them to go on to achieve even greater success.”

 

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Project Wood – MBI opportunity for a manufacturer of circular saw blades

Latest deals for Hart Shaw Corporate Finance

While larger deals tend to steal the limelight it is reassuring for all Hart Shaw clients to know that they have access to all our value added services, such as specialist tax and corporate finance work.

In recent months Hart Shaw’s Corporate Finance team has worked with a wide range of clients helping them lay the foundations to achieve their long term business goals.

Whatever the size of a business, planning for an exit strategy, a management buy-out or going on the acquisition trail requires the backing of a dedicated team of advisers. Already in 2011 Hart Shaw has acted as lead adviser to three key deals.

A Management Buy-Out at Sheffield Electric Co. (Contractors) Ltd resulted in new ownership for the well established electrical contracting & installation business. The transaction was completed by Derek Milner, who had been with the business for 30 years, and now allows him to participate in the future growth of the business.

An ‘out of town’ deal saw Hart Shaw advise London based GGS Compressors Ltd (trading as GGH Hire) on the acquisition of Hire Mate Ltd which boosted combined turnover of the construction and utility based plant supply business to over £4.2m.

Advice in respect of a restructuring of the shareholding of local brewery supplier, Hallamshire Brewery Services Ltd, allows the shareholders to continue to invest for long term growth and was the result of the Tax Planning and Corporate Finance Teams working closely to deliver a structure that delivered real value to the client.

New Head of Corporate Finance, Steve Bell comments: “Our principal focus is on supporting our clients with their strategic, corporate and personal goals. Businesses continue to face challenges as a result of the current economic climate and the continued nervousness of banks to lend money. In this environment we continue to deliver innovative solutions to the issues faced by all our clients.”

To speak to our Corporate Finance team please contact Steve Bell on T: 0114 251 8850 or email steve.bell@hartshaw.co.uk.

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