South: Dealmakers triumph at glittering deals awards show

Dealmakers from across the south packed into Oakley Hall, near Basingstoke, last night for the prestigious Thames Valley and Solent Deals Awards.

And what a night it was – with 12 awards up for grabs, and an audience of 370 cheering the winners.

From more than 300 entries, the competition for the best deal and dealmaker of 2011 came down to votes on the night.

Using voting keypads, the audience voted for Paul Russell of BDO as Dealmaker of the Year (over £25m) and Darren Thompson of Meridian Corporate Finance as Dealmaker (under £25m).

For Russell if was a double triumph – as he had also bagged Corporate Finance Adviser of the Year, as a joint winner with Andrew Thomson on HMT.

Another big winner was Shoosmiths, winning Law Firm of the Year and Emma Gibson being named Lawyer of the Year.

And HSBC came out on top in both Bank of the Year and, with Richard Povey, Banker of the Year.

Comedian Dominic Holland kept the audience entertained after David Murray set the scene by outlining what a tough 12 months it had been for the corporate finance community.

“Big-ticket deals” had almost dried up, he said, and it was the lower mid-market transactions that were keeping the market alive.

He added: “Many of you are involved in the mid-market and it’s you who are doing the deals and providing the work for the local CF community.”

Looking ahead, Murray was more optimistic: “Advisers tell us that there is more activity, even if it is not always translating into completed deals. Good prices can be had for great businesses – and of course many corporates are sitting on a pile of cash and hopefully more of that will be used to acquire businesses over the next 12 months. These are positive signs.”

The Deals Awards were sponsored by Barclays, Grant Thornton, HMT, HSBC, Lamport Bassitt, Leumi ABL, Lloyds Bank, Pitmans, and PwC.

The results:

Dealmaker of the Year (over £25m): Paul Russell, BDO

Paul Russell was lead adviser on the sale of VADition to Exclusive Networks, the sale of RiskDisk to Experian, and the sale of ICM to Compass, among a host of deals. The MBO of Fibercore, and refinancing of GCi were also on his desk. One nomination praised his “impressive performance” and another his “great commitment to getting the deal done”.

Dealmaker of the Year (under £25m): Darren Thompson, Meridian CF

Meridian, the largest independent CF boutique on the south coast, advised the MBO of Keystone Legal. Darren Thompson, an ex-banker, leads technology-related transactions, among others, and acted as lead adviser in six transactions in the qualifying period. He also oversees the investment strategy of the firm’s investment fund, Meridian Growth Capital. Thompson acted as lead adviser in six transactions in the qualifying period.

Deal of the Year (over £25m): Micheldever

Deal value: Confidential

Funding: RBS, HSBC, Santander, GE Capital

Deal details: This high-value refinancing deal enabled Micheldever to continue its expansion strategy including the acquisition of Tyreland.

Advisers (Tyreland): BCMS Corporate

Legal (company): Thomas Eggar; Legal (target): Kiteleys; Legal (funder): DLA Piper

Due Diligence: RSM Tenon, Thomas Eggar, Armstrong Transaction Services

Deal of the Year (under £25m): Krispy Kreme UK

Deal value: £25m

Private equity: Alcuin Capital Partners

Bank funding: Santander

Deal details: Krispy Kreme UK management buyout backed by Alcuin Capital Partners. Doughnut retailer Krispy Kreme UK is headquartered in Camberley.

Advisers (target): Grant Thornton; Advisers (acquirer): N/A

Legal (target): Shoosmiths, Latimer Corporation; Legal (acquirer): Jones Day

Other advisers (vendor): Macfarlanes

Due Diligence: RSM Tenon, PwC

Lawyer of the Year: Emma Gibson, Shoosmiths

Emma Gibson has been a major player in the past 12 months, and was heavily involved in the £25m MBO at Krispy Kreme; MBO of Autologic; the acquisition of LM Group by Experian; the Davies Group MBO; the Benefex investment; HIG’s investment in Aircom, and a host of other high-profile deals.

Law Firm of the Year: Shoosmiths

Shoosmiths has acted on some key deals including the MBO at Davies Group, a standout transaction in the Thames Valley in 2011; BGF investment at Benefex; MBO of Krispy Kreme; and acquisitions by Ageas UK, Hamworthy, and Bowmark Capital.

Management Team of the Year: Simplyhealth

Simplyhealth acquired Winchester-based Denplan for £115m and Groupama Healthcare for an undisclosed figure to create the UK’s leading health cover provider. Formerly HSA, Simplyhealth, based in Andover, settles more than 10,000 claims a day. Its acquisition of Denplan brings the UK’s largest dental plan provider with 1.8 million patients into the Simplyhealth stable.

Corporate Finance Adviser of the Year: Paul Russell, BDO, and Andrew Thomson, HMT

Paul Russell has led the BDO team in some significant deals in 2011. BDO topped the CorpFin league tables as the most active financial adviser by deal volume. Russell’s deals included Hamworthy’s acquisition of AW Flow Group; the sale of ICM to Compass; the sale of RiskDisk to Experian; and the acquisition by Exclusive Networks of VADition.

Andrew Thomson has had another full-on year, advising the Tendeka board on the disposal of Sensornet; advising Leaders on the acquisition of JSM Property; leading the Netmums’ sale from start to finish; and advising shareholders on the sale to KCC of Basildon Chemical; among many deals.

Corporate Finance Team of the Year: Grant Thornton

Grant Thornton has, according to one law firm, “worked tirelessly to generate opportunities in the market” and has been integral to a number of headline deals including the Kerridge acquisition of TIS; the sale of John Good; the MBO of Selection Services; the sale of Kell to APC; and the sale of Security Partnerships to Bytes. Nominations cited GT as “stand-out” CF team in the region.

VC Firm of the Year: ISIS

ISIS Equity Partners invests in UK-based growth companies with robust business models, typically valued from £5m to £75m. In 2011 ISIS invested in DigiCo in a deal worth £50m, and supported the £46m MBO of Autologic.

Bank of the Year: HSBC

HSBC in the Thames Valley and Southampton had another successful year. Headline deals included the £46m MBO of Autologic; refinancing at Micro Focus, Halma, Direct Wines and many others; Kerridge’s purchase of TIS Software; the Davies Group buyout; and the buyout of Iris Software.

Banker of the Year: Richard Povey, HSBC

Richard Povey leads the HSBC team in the leveraged marketplace in the Thames Valley. High-profile deals included LGC’s acquisition by Bridgepoint; Kerridge’s acquisition of TIS Software; the HG sponsored buyout of Iris Software; the refinancing of management at Davies Group; and the purchase of Drury PSM by Alcumus.

Resources:- Images & Vidoe can be found at The Thames Valley & Solent Deals Awards website