Scotland: Deals Review
Our firm has had a busy 2013 and this has continued throughout the summer months:
Letts Filofax Group – acted for purchaser – Sale of this iconic Scottish brand, and the world’s leading, manufacturing of diaries, to HSGP Investments.
Genius Foods – acted for debt funder – Provisions of secured term loan facilities to assist with the acquisition of Finsbury Foods’ ‘free from’ brand by Genius Foods the UK’s leading gluten free food brand.
McNaughtans Printers – acted for McNaughtans – Sale of this Scottish packaging and labelling company, an established supplier to the Scottish Whisky industry, to Elanders Group, a Swedish-headquartered global printing group.
Team Rock – acted for management – Equity investment by Harwood in Team Rock, a content creation & distribution business for rock fans worldwide (includes Team Rock radio).
Dundee Cell Products – acted for Dundee Cell products – Further funding round for this successful spin-out from the University of Dundee, which provides innovative products and tools for biochemistry and molecular and cell biology research.
Interlok Packaging – acted for vendors – The disposal of part of the issues share capital of the company to Molle Verwaltungs GmbH to create a world leader in paper based packaging.
Inverclyde Biologicals – acted for vendors – Disposal of this market leading manufacturer of high quality diagnostic kits and blood group serology reagents to Source Bioscience plc, an international genetic analysis and diagnostics business.
BDL Hotels – acted for BDL Investors – the sale of Ramcore Hotels Ltd, which owned and operated 5 Ramada Encore Hotels, to Hong Kong based Penta Hotels.
Johnston Press – acted for Vendor – Disposal of Selby Times and Goole Courier by this leading regional newspaper publisher to Chronicle Publications Limited.
BDL Management – acted for vendors – Sale of this UK-wide hotel management group to Redefine Group of South Africa.
Herkules Capital – acted for vendor – Sale by Herkules Private Equity Fund III, Norway of Gothia Financial Group AS to arvato AG. Acting in all UK aspects in respect of Gothia UK and BCW Group.
Bank Club – acted for Club of Banks – Refinancing of debt facilities to The Edrington Group Limited and The 1887 Company Limited, owners and producers of some of the world’s best and best-loved scotch whiskies, complemented by Brugal the leading golden rum in the Caribbean.
Green Marine Solutions – acted for management – Investment in this provider of bespoke marine solutions to the offshore renewables industry from the Finance for Business North East Accelerator Fund, managed by Northstar Ventures.
HCS Control Systems – acted for vendors – Sale of this specialist supplier to the subsea industry worldwide to the management team back by Maven Capital Partners, Simmons and Front Row Energy Partners.
Dominion Technology Gases – Acted for management vendors – Sale of this leading global supplier of equipment to the offshore oil and gas industry, to US listed Praxair Inc.
Weatherproofing Advisors – Acted for management – VIMBO of this UK-wide aware-winning contractor and roofing management advisor.
Picsel / SmartOffice Technologies During September we acted for long-standing client Malaysia Debt Ventures Berhad in relation to the recovery of sums from the Picsel Software Group. This complex transaction has involved, (as at time of writing) insolvency and IP advice in relation to Scotland, England, the Isle of Man, Guernsey, Malta, Korea and Japan and we have been greatly assisted by Advoc members, GTG Advocates in Valetta. Hopefully by the time you are reading this we may have managed to realise the value of the assets! However that depends on the outcome of Primary Insolvency Proceedings under the EU Regulations in Malta, our having the curious position of having achieved insolvency appointments under Secondary Proceedings before we had done so under the Primary ones.
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