12 deals in 12 record-breaking months for UNW’s corporate finance team
Dealmakers at chartered accountancy and business advisory firm UNW are celebrating a record-breaking 2018.
Over the past 12 months, the Newcastle-based firm’s corporate finance team has completed several high-profile transactions that included a number of finance raises, re-financings and company disposals. The transactions have catered for clients in a wide range of sectors including Healthcare, Manufacturing, Technology and Digital.
Early 2018 saw the team advise Reading-based drone technology company Altitude Angel on its £3.4m Series A funding round with Seraphim Capital, ADV and Frequentis AG, whilst in the autumn a £2.1m venture capital funding deal and £0.5m worth of growth capital funding were secured for North East tech-enabled firms Boiler Plan UK and Troocost respectively.
In a strong year for M&A generally, UNW acted on several cross-border disposals, with highlights including the sale of manufacturing firm International Syalons to German firm Calsitherm Group, digital agency TH_NK to EPAM in the United States and Hydram Engineering to Dynamic Aerospace and Defense who are also based in the States.
Closer to home the team advised on Vocare’s sale to AIM-listed Totally plc, private dental group Morrison Shenfine on its sale to BUPA, Lawson Fuses throughout its disposal to Lucy Group and Sunderland-based John Hogg Funeral Directors on its sale to Funeral Partners, a leading UK network of funeral directors.
John Healey, Corporate Finance Partner at UNW, said: “Our Corporate Finance team is one of the largest in the North East and growing all the time, this is reflected in a year that has been our most successful in terms of the variety and volume of deals completed.
“Our collective skills in navigating successful acquisition, fundraising and disposal processes have helped our clients to conclude transactions with businesses and funders around the world. With a strong pipeline coming through for 2019, we’re hoping that this year will be even more successful than last.”
Speaking of the UNW support during his firm’s successful multi-million-pound fundraising application, Altitude Angel CEO Richard Parker said: “In UNW, we found a real trusted advisor. Their expertise in both domain and industry really helped us navigate a somewhat daunting and complex process to ultimate success. We felt John Healey and his team became an extended part of our team and would not hesitate in recommending them to assist with a fund-raise for others.”
UNW has recently advised Perfect Image, a long-established and trusted end-to-end IT solutions provider, on a Management Buyout (MBO) that completed in May 2019. Chiltern Capital, a London-based private equity firm, provided financial support.
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Newcastle-based chartered accountancy and business advisory firm UNW has advised Receptive Software Limited on its sale to business software firm, Pendo, which is headquartered in the United States.
Following on from our previous article, HMRC have announced an updated guidance for those who are going to be affected by the significant amendment to the VAT rules for construction services known as ‘domestic reverse charge’ accounting.
On 13 March 2019, UNW and Northstar Ventures held an interactive morning session aimed at charities and not-for-profit organisations that were keen to develop their understanding and use of impact measurement.