Contentious Tax Bulletin
Tax Investigations Partner, Andrew Park, provides a round up of the most recent and significant contentious tax news. Read more here...
Connecting the right parties
Capturing and analysing key financial and operational data about companies, evaluating targets, and profiling buyers is vital knowledge to have when it comes to those looking to sell or acquire.
Shareholders of a freight forwarding company approached us considering sale and exit, but were unsure as to whether now was the right time.
We evaluated recent M&A activity within the sector, considering this in tandem with environmental factors, such as the Brexit vote, to ascertain if any aspects of their business could be adapted to maximise exit value.
Armed with this knowledge and market insight, we were able to successfully take the business out to market and engage with a number of potential suitors confidentially. In tandem with running a focused sale process, we have achieved significant interest for our client and expect to sign terms with a preferred suitor shortly.
Pioneer Foods is one of the largest producers and distributors of food and beverage products in South Africa and provides own label manufacturing and packaging services for many leading retailers in the UK and international markets.
We helped in assisting Pioneer Foods in the acquisition of the Wisbech-based Streamfoods from the Wellness Group of companies for £7.5 million in 2016.
They originally approached us to provide a flexible search service to identify targets for acquisition, as they wanted to diversify into alternative product category lines that complemented their existing portfolio.
Our initial targeting and appraisal exercise led to a number of target opportunities being identified which, after further financial analysis and evaluation, led to a short list of companies selected to approach. We coordinated initial dialogue between parties which resulted in a number of positive meetings between key representatives of Pioneer, Price Bailey and the target owners, one of which was with Wellness Foods.
Following initial meetings, we assisted Pioneer in conducting further due diligence enquiries leading to a formal offer being made for Streamfoods.
You can read the full press release here.
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