13 minute read
Deal DIReCtoRy
Deal DIReCtoRy
Advertisement
On 14 June 2012, the Innovation Group plc (‘the Group’), a global provider of business process services and software solutions to the insurance, fl eet, automotive and property industries, announced the acquisition of Value Partners N.V. (‘VP’), a leading provider of outsourcing services to the insurance and independent broker communities in Belgium. The Innovation Group provides 24x7 helpdesk services to independent brokers on a subscription basis, and has now expanded into telesales and claims management services to insurance companies. The acquisition provides the existing Belgium business the opportunity to increase managed accident repair volumes through access to the claims currently being handled by VP. Commenting on the acquisition, Andy Roberts, CEO of The Innovation Group said: “I am delighted to be announcing the acquisition of Value Partners N.V. today. This new acquisition is an additional and important step in our strategy to invest in and acquire businesses that strengthen our existing service core, allow us to capture additional value within the Group and provide us with a clear competitive advantage.” For more details, visit www. innovation-group.com.
KBC announces Expansion into the Upstream oil and Gas Software and Services Market
KBC Advanced Technologies plc (‘KBC’ or ‘the Group’) announced on 19 June 2012, that it had purchased Infochem Computer Services Limited (‘Infochem’), a leading provider of specialised software and services to the upstream oil and gas industry, for an enterprise value of £9.5m. The acquisition of Infochem is the fi rst step in KBC’s growth strategy to both expand into the upstream energy industry and increase software sales as a proportion of overall sales. Philip Birch commented: “KBC’s vision of unifi ed simulation from upstream oil and gas through to downstream, is a strong fi t with Infochem’s vision of production and process management integration through high-accuracy compositional modelling. The combination of both companies’ technology creates a unique suite of thermodynamics, fl ow assurance, process simulation and energy management technologies and services, which provides a step change for the oil and gas sector. In addition, access to KBC’s signifi cantly larger global network, to market and distribute Infochem’s software will deliver signifi cant growth opportunities.” For more information, visit www.kbcat.com.
Sage Enters Brazil with acquisition of Folhamatic Group
On 20 June 2012, the Sage Group plc (‘Sage’) announced that it had acquired a controlling interest in Folhamatic Group (‘Folhamatic’), a leading provider of accounting, tax and payroll and regulatory content software in Brazil. The expected total consideration of £125m (R$398m) for 75% of the equity equates to an enterprise value for 100% of the business, including estimated net debt at closing, of £191m (R$608m). The Sage Group plc is the leading global supplier of business management solutions to small and mediumsized enterprises (‘SMEs’). The acquisition of Folhamatic represents an important step in building Sage’s presence in key emerging markets, enabling a strategy focused on growth and a disciplined approach to returns. Commenting on the acquisition, Guy Berruyer, CEO of Sage, said: “We are delighted to announce the acquisition of a controlling interest in Folhamatic. It provides us with a market leading position in the large and rapidly growing Brazilian market. We are excited about the growth opportunity that the combination of Sage and Folhamatic creates in this market.” For more information, visit www.sage.com.
Sainsbury’s Moves into E-book Space
Sainsbury’s announced on the 12 June 2012, the acquisition of HMV Group plc’s shareholding in Anobii Limited, a social network and online retailer of e-books. As a result of the transaction and Sainsbury’s investment in the future development of the business, it is anticipated that Sainsbury’s will have a 64% stake in Anobii. The investment in Anobii is a further step in Sainsbury’s strategy to deliver digital services to support the growth of its online channel and commitment to multichannel retailing. Anobii is an online e-books platform, which enables readers to research titles and purchase them to read on a range of e-reader, smartphone and tablet devices. Readers can rate, review, share and discuss their choices with other Anobii members on www.anobii. com and across related social networking sites. The service currently has over 600,000 users worldwide, with a library of over 60,000 e-books. Sainsbury’s joins Anobii’s existing shareholders and global publishers HarperCollins, Penguin and Random House Group (UK), with the aim of investing in and developing the business in the UK and overseas. Mark Bennett , Sainsbury’s Head of Digital Entertainment, said: “Anobii’s innovative use of social media is a clear diff erentiator. This acquisition is a valuable addition to our digital portfolio and shows our commitment to becoming a key player in the digital entertainment market. We’re excited about working together with the Anobii team and our fellow shareholders in supporting Anobii to become a leading retailer of e-books.” For more information, visit www.j-sainsbury.co.uk.
Serco Acquires Vertex’s UK Public Sector BPO Operations
Serco Group plc (‘Serco’), the international services company, announced on the 11 June 2012 that it had acquired Vertex Public Sector Limited, the UK public sector operations of Vertex Data Science Limited, for cash consideration of £55.5m. Vertex Public Sector provides high quality Business Process Outsourcing (BPO) services to UK local and central government. Its 3,000 employees handle approximately 4.5 million citizen interactions a year. Christopher Hyman, Chief Executive of Serco Group plc, said: “This acquisition enhances the range of services we off er to the UK public sector as they seek to reduce costs whilst continuously improving outcomes for citizens. We are pleased with the important customer relationships it brings and the opportunity to extend and expand these. The newly added skills and capabilities will also help Serco address future prospects in both the local authority and central government markets. Following recent signifi cant contract
wins, this is another important step for our BPO strategy and the development of our Global Services business. This business will have annual revenues of over $1bn, and approximately 50,000 employees off ering a diverse range of middle and back offi ce services to both public and private sector customers.” For more information, visit www.serco.com.
World’s Leading Independent Digital Agency AKQA to Join WPP
WPP announced on 20 June 2012, that it had agreed to acquire, subject to regulatory approval, the assets of AKQA Holdings, Inc. (‘AKQA’), the world’s leading independent and most awarded digital agency. Founded in 2001, AKQA provides integrated digital communications campaigns, spanning social media, mobile, interactive experiences, gaming and content creation. Operating through offi ces in the US, Europe and Asia, the agency currently employs 1160 people worldwide – from software engineers and technologists – to creatives and strategists. AKQA will continue to operate as an independent and stand-alone brand within WPP and be led by founder and CEO Ajaz Ahmed and Chairman Tom Bedecarré. Tom will also become President of WPP Ventures, a new Silicon Valley-based company, which will explore new digital investment opportunities for WPP as a whole. Commenting on the arrival of AKQA, Sir Martin Sorrell, CEO, WPP said: ‘We are thrilled to welcome AKQA’s unique team of technological innovators and entrepreneurs to WPP. We have admired their creativity and technological skills for a long time along with their outstandingly eff ective and awardwinning work for clients. We are delighted to be united!” For further information, visit www.wpp.com or www.akqa.com.
Accumuli’s Acquisition of ‘Edge7’
Accumuli plc (AIM: ACM), the provider of Advanced IT Security Services, announced on 13 June 2012 that it had acquired the entire issued share capital of Secmon Limited (trading as Edge Seven or ‘Edge7’). Edge7 is a Security Information Event Management (‘SIEM’) consultancy selling hardware/ software licences and consultancy in a growing specialised area of IT security. This acquisition provides a springboard into the SIEM market in line with the strategy articulated in the preliminary announcement of 22 May 2012. The management of both businesses believe that there is signifi cant scope for the products and services sold by Edge 7 to be cross sold across Accumuli’s existing customer base. Nick Kingsbury, Non-Executive Chairman commented: “We are delighted to have completed our fourth acquisition since commencing the Accumuli buy and build project. Edge 7 is a business with a strong reputation and acknowledged expertise in implementing and extracting the full benefi ts from a SIEM platform. This acquisition, along with our increased investment in this fi eld, will enable us to provide our customers with a high level view on their organisation’s IT security estate, and actionable intelligence on specifi c threats. It provides us with further depth in a skill set which allows us to engage at a higher, more strategic level with our customers and provide more cross selling opportunities across our customer base.” For more information, visit www.accumuli.com.
Better Capital – acquisition of Shares in Pranita Engineering Solutions
On 14th June 2012, Bett er Capital PCC Limited was informed of the acquisition of Limited was informed of the acquisition of a 70% shareholding in Pranita Engineering a 70% shareholding in Pranita Engineering Solutions Limited (‘Pranita’) by Gardner Solutions Limited (‘Pranita’) by Gardner Group Limited (‘Gardner’), a company Group Limited (‘Gardner’), a company within the BECAP Fund LP (the ‘2009 Fund’) within the BECAP Fund LP (the ‘2009 Fund’) investment portfolio. Based in Bangalore, investment portfolio. Based in Bangalore, India, Pranita is a manufacturer and supplier India, Pranita is a manufacturer and supplier of aerospace detailed parts and subof aerospace detailed parts and subassemblies, and has had a supply relationship assemblies, and has had a supply relationship with Gardner since 2007. The acquisition with Gardner since 2007. The acquisition of Pranita will provide an opportunity of Pranita will provide an opportunity for Gardner to develop business in the for Gardner to develop business in the growing Indian aerospace market. Gardner growing Indian aerospace market. Gardner is the UK’s largest independently owned is the UK’s largest independently owned supplier of metallic aerospace details and supplier of metallic aerospace details and sub-assemblies. Customers include Airbus, sub-assemblies. Customers include Airbus, Rolls-Royce, GKN, BAE Systems and other Rolls-Royce, GKN, BAE Systems and other major international companies in the aviation major international companies in the aviation sector. The acquisition of Pranita will provide sector. The acquisition of Pranita will provide Gardner with another guaranteed low cost economy source of supply in addition to its existing facilities in Poland. Nick Sanders, Head of Portfolio at Bett er Capital LLP and Chairman of Gardner commented: “The acquisition of a majority stake in Pranita is an important next step in the strategic development of Gardner. Along with our existing facilities in Poland, Pranita provides an excellent low cost source and access to the fast growing Indian aerospace market.” For more information, visit www.bett ercapital. co.uk.
Centaur Media –acquisition of Econsultancy
On 22 June 2012, Centaur Media plc (LSE: CAU, ‘Group’, ‘Centaur’), the business information and events group, agreed to acquire E-consultancy.com Limited (‘Econsultancy’), a leading digital marketing information provider, for an initial consideration of £12m. The acquisition is subject to shareholder approval. Econsultancy is a leading digital and events-led information provider to the global digital marketing and e-commerce community in the UK, with a growing presence in the USA, Middle East, Asia and Australia. Econsultancy has approximately 110,000 registered users and approximately 5,000 subscribers. The acquisition is a key part of the strategy to transform the Group into a predominantly digital and events-led business. The deal complements Centaur’s market-leading publications, events and digital services in the marketing, design and creative sectors. Geoff Wilmot, Centaur Chief Executive, said: “The earnings enhancing acquisition of Econsultancy provides us with an exciting opportunity to acquire a leading information brand in a high growth sector, with global potential which fi ts well with Centaur products including Marketing Week and New Media Age. Econsultancy is highly complementary with Centaur and gives us a prominent position in the rapidly growing digital marketing sector with the opportunity to scale internationally. We see considerable potential for collaborative growth through leveraging our existing position in marketing and the development of high value, paid-for information services.”
Deal DIReCtoRy
British Gas acquires Equity Stake in Power Plus Communications GMBH
On 20th June 2012, Centrica plc announced that its British Gas division had invested EUR4.5m in cash in return for a minority shareholding in Power Plus Communications Gmbh (‘Power Plus Communications’), a German based technology company that provides broadband powerline technology for smart grid and smart metering applications. As part of this investment, British Gas will work closely with Power Plus Communications to develop and deploy technology solutions for its customers in the UK. The transaction will also enable British Gas to further expand its position in smart technology and enhance its smart metering service. Phil Bentley, Managing Director at British Gas, said: “We want to continue to lead in smart metering, making energy saving as easy as possible for our customers. This is why we continue to drive the smart meter roll out and off er new, smarter ways to help customers take control of their energy usage. Power Plus Communications’ world leading technology will enable us to connect more of our customers with smart meters, transforming their relationship with energy and helping them bett er manage fuel bills.” For more information, visit www.britishgas. co.uk.
Filtrona plc (‘Filtrona’ or ‘the Company’) announced on 14 June 2012 that it had acquired 100% of the share capital of John R. Lyman Company and Big Blue Properties LLC (together ‘Lymtech Scientifi c’) from William Wright and an associated family trust for a cash consideration of US$45.3m, subject to customary adjustments. Filtrona is a leading international supplier of speciality plastic, fi bre and foam products. Based in the US, Lymtech Scientifi c is a manufacturer and distributor of porous speciality wiping materials used within the clean environments increasingly required by the medical, life science, electronic and industrial markets. The acquisition of Lymtech Scientifi c not only adds complementary technology in a growth segment to Porous Technologies, but also enhances the commercial capability of the division through the addition of a distribution-selling channel. Commenting on today’s acquisition, Colin Day, Chief Executive, said: “The acquisition of Lymtech not only extends our porous fi bre manufacturing technology, but also gives us access to the att ractive growth and higher value cleanroom and controlled environment wipes market. In addition, through leveraging the global commercial and operational resources of our Porous Technologies division, there is a real opportunity to expand the Lymtech business geographically into the sizeable Asian and European cleanroom wipes markets.” For more information, visit www.lymtech.com.
PLUS Shareholders Approve acquisition by ICaP
On 18 June 2012, ICAP announced that Plus Markets Group plc (‘PMG’) had approved the sale of PLUS Stock Exchange plc (‘PLUS’) to ICAP. This transaction gives the companies quoted on PLUS the security and confi dence that their listing venue will continue trading and be further developed by ICAP (the ‘Group’). Upon completion, ICAP will recapitalise PLUS and provide the necessary funds to build and develop the market. ICAP is the world’s leading interdealer broker and provider of post trade risk and information services. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks. Through post trade risk and information services they also help customers manage and mitigate risks in their portfolios. For more information, visit www. icap.com.
