deal room

Business Leader highlights a selection of significant deals that have taken place in the last few months.

Finance

Arthur J. Gallagher & Co. has announced an agreement to acquire the partnership interests of BCHR Holdings, L.P., dba Buck. The transaction is expected to close during the first half of 2023, subject to customary regulatory approvals, for a gross consideration of $660m or approximately $585m net of agreed seller-funded expenses and net working capital.

Buck is a provider of retirement, HR and employee benefits consulting and administration services. The organisation has a long history, dating back more than 100 years, with a diverse client base by both size and industry. With over 2,300 employees, including more than 220 credentialed actuaries, Buck primarily serves customers throughout the US, Canada and the UK.

Technology

Tata Communications, a global digital ecosystem enabler, announced it has entered into a definitive agreement through its wholly owned international subsidiary Tata Communications (Netherlands) B.V. to acquire The Switch Enterprises LLC. The Switch is a global end-to-end live video production and transmission services provider with reach to top-tier sporting venues in North America.

Manufacturing

Trioworld Group has signed an agreement to acquire the Canadian-based Malpack Ltd. and US-based Malpack Corp. (collectively, Malpack), a player in solutions for highperformance stretch film in the transit packaging segment. Malpack supports customers in the areas of distribution, beverage, food, consumer goods, e-commerce, and other industrial packaging.

Entertainment

Burges Salmon has advised the shareholders of Regular Music on their partial sale to German promoter, venue operator, and ticketing conglomerate Deutsche Entertainment AG (DEAG). The deal, through DEAG’s UK subsidiary Kilimanjaro Group, sees DEAG continue to increase its international promoter network.

Construction

Fox Group has announced the multi-millionpound acquisition of B&W Plant Hire & Sales Limited, a major Plant Hire company with depots in Blackburn, Keighley, Northwich, and Southampton. Established in 1963 by Bill and Mary Whitwell, the Fox Group started with just one piece of equipment, a JCB 3C.

Recruitment

Seven Search and Selection Ltd, a recruitment solutions provider based in Leeds, announced it has signed a deal to transfer full ownership across to its employees. The team at Seven were supported by Andy Francey and Brad Adams (Freeths LLP) and Ian Meek (Buckle Barton Chartered Accountants) in the Employee Ownership Trust sale.

FOOD & DRINK

Arrowpoint Advisory and Rothschild & Co’s Consumer team have jointly advised AG Barr plc on its acquisition of Boost Drinks, a branded drinks business, on a debt-free, cash-free basis, funded from internal cash reserves. The IRN-BRU maker has paid an initial £20m for Boost, whilst additional considerations of up to £12m will be payable, depending on Boost’s future performance.

Energy

Mobeus has announced that it has backed the management buyout of GW Global Insights (GWGI), the provider of industry news, data, and events to the industrial gases market and the fast-evolving hydrogen economy. GWGI represents the second investment from Mobeus’s latest UK-focused small-cap buyout fund, Mobeus V, following its investment in Gungho Marketing earlier this year.