Excerpt from ‘The Young Professionals Guide to Conquering Private Equity Transactions’ available on Amazon Financial Due Diligence (Chapter 1) The typical areas of diligence on every deal are financial and legal diligence. Financial due diligence (“FDD”) focusses on the value areas of a transaction: Earnings Performance How has the business performed historically? Are there any … Continued
The Yorkshire & North East Corporate Finance team at DSW has advised on the buy-in management buyout (BIMBO) of Star Brands, funded by Mobeus. Star Brands, the £30m-turnover laundry and cleaning product manufacturer, is headquartered in Leeds and has a manufacturing plant in Redditch. It currently employs about 125 staff, with 30 of those added … Continued
Peak42 has been acquired by Edwin James Group, a leading engineering services business operating across the UK. Keith Benson and Dan Walker of Dow Schofield Watts advised the shareholders of Peak42. Edwin James Group has a UK-wide workforce of over 1,000 employees, located across the UK. Headquartered in Glasgow, the group was established by investment firm Aliter … Continued
A London-based meat and poultry specialist which had been facing financial difficulties has ceased trading after failing to find a buyer. Dow Schofield Watts Business Recovery were appointed as administrators to Nigel Fredericks Trading Limited, which supplied the catering, hotel, leisure and education sectors including a number of high-profile sporting venues. The Dow Schofield Watts … Continued
Perfect Image, a Newcastle-based IT services company, has successfully undergone a Management Buy Out (MBO), completed by Chief Executive Officer (formerly Chief Operating Officer), Rob Hankin, and Sales and Marketing Director, Andrew Smith. The MBO was backed by Chiltern Capital, a private equity firm that supports exciting businesses with ambitious teams to grow and develop. … Continued
Pandea Global M&A (“Pandea”) held its fourth international M&A conference on 22nd and 23rd of May in Milan, hosted by the Italian member firm, GMT Partners. Over 25 corporate finance specialists representing member firms from Europe, the Americas, Asia, Africa and Australasia exchanged views on cross-border M&A opportunities and global market trends. Pandea is a … Continued
Tonkotsu – the ramen restaurant group – is set for expansion after securing a £5m investment from YFM Equity Partners. Will Baxter of Dow Schofield Watts acted as lead advisor to Tonkotsu on the deal. Tonkotsu, which is led by Managing Director, Stephen Evans, operates nine restaurants in London and one in Selfridges Birmingham, with … Continued
We’re delighted to announce that the DSW Angels have been shortlisted for Best New Entrant to the EcoSystem at the UKBAA Angel Investment Awards 2019! This Award recognises the most innovative and impactful organisation having recently entered the early stage market and that is making a significant and exciting impact on the entrepreneurial finance ecosystem … Continued
Plant and machinery allowances may be given where a person carrying on a qualifying activity incurs qualifying expenditure. By Simon Denye, Partner, Dow Schofield Watts Tax Consulting LLP Qualifying activities are: A trade A property business (UK or overseas) A furnished holiday lettings business (UK or within the European Economic Area) A profession or vocation An employment or office … Continued
Dow Schofield Watts boosts top team as it targets national growth Dow Schofield Watts has made two strategic appointments to strengthen its management team as it prepares to roll out its brand in key cities across the UK. Richard Evans joins as the group’s Operations Director, having previously been COO of the London investment bank Strand Hanson, while Nicole Burstow joins from Deloitte to become the group’s Finance Director. Their arrival comes as Dow Schofield Watts plans to continue … Continued
By Simon Denye, Partner, Dow Schofield Watts Tax Consulting LLP Introduction to MBO’s and Corporate Tax Issues Several new companies may have been incorporated and /or acquired as a result of a management buy-out (MBO). It is important that the directors of the new group are aware of the tax matters which may need to be … Continued
Earn-outs An earn-out is deferred consideration dependent upon the future performance of the business being acquired. The principal purpose is to bridge the price expectation gap between the buyer who will pay a price on past profits and the seller who expects a price based on the future potential of the business. The difficulty for … Continued
Dow Schofield Watts’ corporate finance team has been shortlisted in two categories in the 2019 North West Rainmaker Awards. The team is one of five in the running for the Corporate Finance Team of the Year award, while team member Peter Barkley has been nominated as the Young Rainmaker of the Year. Peter, aged 30, … Continued
Chorley-headquartered Perspective Financial Group has opened its first London office through its latest acquisition, with Dow Schofield Watts in Warrington providing financial due diligence. The firm has bought Thornton Springer Financial Services in a move which expands its national network of operations to 15 including in Eastbourne, Marlborough, Chester and Newcastle. Thornton Springer Financial Services has been … Continued
Competition – UK Legislation The Competition and Markets Authority (“CMA”) may initiate an investigation of a takeover if there is a merger situation qualifying for investigation (other than if covered by the European Commission). The CMA must initiate if it believes a relevant merger has been created which might be expected to result in a … Continued