RM Corporate News Update

The last few weeks have been busy ones for RM Corporate, the firm’s corporate finance arm, with three transactions being completed in the period form Christmas through to the end of January.

First amongst these was the sale of a northern based distributor of medical products to the private care sector. RM Corporate was introduced to this company’s owners when its management team initially considered a MBO. Subsequent discussions ruled this option out as it was felt that a more appropriate transaction would be a sale to a trade buyer. With the full support of the management team RM Corporate prepared a detailed Information Memorandum and undertook a focussed marketing exercise within the trade. As a result discussions were held with selected parties and exclusivity was given to a potential purchaser in the US. RM Corporate negotiated with the US company and were able to deliver a transaction which met the vendors’ expectations on price.

At the end of January, RM Corporate completed the buy out of Dews Motor Group ( www.dews.co.uk) a substantial, multi site, multi franchise motor dealership based in Halifax. Introduced to the company by a contact at law firm Schofield Sweeney, RM Corporate structured a transaction to buy out the interests of non executive directors/shareholders who controlled the company, allowing its executive management to acquire 100% of the issued share capital. At the same time the company acquired an additional dealership franchise and site, and is negotiating to further expand its manufacturer representation. The MBO was funded by Barclays Bank and Bank of Scotland. RM Corporate negotiated with the exiting shareholders and worked with the remaining shareholders and the banks to structure an appropriate funding package.

In between the above transactions the team completed the fundraising for a private property company operating in the buy to develop/let market. The funds required were provided by Handelsbanken through their Leeds team.

Over the coming weeks the RM Corporate team expects to be busy with a range of transactions in sectors such a construction, aerospace engineering, manufacturing, distribution and hospitality.

For a confidential discussion as to how RM Corporate can help with your business transaction, whether it be a MBO, trade acquisition or sale, please contact Phil Bailey on 01756 706635, or by e mail,philbailey@rmcorporate.com.

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