The Birmingham corporate finance team of international accountants Mazars has had a busy start to the year, advising on three major deals including two businesses moving from the Stock Market to private ownership.
Most recently, Mazars’ Greg Hall and David Preston provided the due diligence on the management buyout which saw the merger of the AIM-listed Network Group Holdings and Pertemps Ltd to create the £425 million turnover private company Pertemps Network Group Ltd.
Mazars Corporate Finance Ltd acted separately for the new group and approved the offer. This was led by partners Stephen Skeels and Andrew Millington.
Midlands based Mazars Corporate Finance partner Nick Johnson with John Handley – working together as Lighthouse Management Advisers – advised the executive management team led by Mike Gordon in relation to the recent transaction where Vitruvian Partners acquired a majority interest in Healthcare at Home Ltd, the UK’s leading provider of clinical homecare services.
Vitruvian’s investment and a £100m asset based lending facility from HSBC and RBS will enable the executive management team, led by chief executive officer Mike Gordon, to continue the rapid development of the business.
Healthcare at Home has around 1,000 employees and served over 150,000 patients in 2011.
The third deal which completed was the £40 million public to private move of Workplace Systems International Ltd, where Mazars Corporate Finance Ltd’s partners Stephen Skeels and Andrew Millington in Birmingham advised the board and acted as Rule 3 advisors.
Andrew Millington said: “It is clear that real appetite exists for deals even in the current uncertain economic conditions. For the right transaction equity and debt finance continues to be available with the majority of transactions proving to be complex and time consuming for everyone involved.
“We are pleased that the Mazars corporate finance team in Birmingham has been able to advise on these three significant transaction in what is a good start to the year for the city’s corporate finance advisors.”