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Completed Deals

Deals Exceeding £1 million

Scrutton Bland assists Management Buy In Team to acquire Harwich Express Freight

June 2006

Scrutton Bland Corporate Finance LLP, have advised the management team of Dan Ashford, Dale Coote and Mike Sharpe on the acquisition of the share capital of Harwich (Express) Freight Services Ltd.

Harwich Express Freight was set-up in 1968 and has grown to become a substantial haulier which also offers warehousing facilities. The company’s customer base includes large shipping companies operating from the port of Harwich and its annual turnover is approaching £4million.

Dan Ashford and Dale Coote are directors and owners of Synergie Worldwide Logistics Ltd, a haulage business based in Ipswich. Mike Sharpe has many business interests and brings financial skills to the team. The Management Team plan to develop and expand the company building on its well established reputation.

Andy Higginson, who headed up the team from Scrutton Bland acting as lead adviser commented, “We were delighted to assist the Management Buy In Team to achieve a successful transaction. All parties took a commercial and sensible view in the negotiations and the deal funding which was arranged should also facilitate the company’s development plans.”

Scrutton Bland are retained as the Accountants to the company and James McElhinney, Partner, added “We look forward to an ongoing relationship with the MBI Team and assisting the company to achieve its financial aims.”

Birketts Solicitors advised the Management Buy In Team on the legal aspects of the transaction. The Birketts team was headed up by Geoff Hazlewood.

New Owners for leading local pharmacies

February 2006

Scrutton Bland Accountants and Ellisons solicitors have advised pharmacist Nick Hunt, Director and Shareholder of NDH Enterprises Limited, on the acquisition of two established pharmacies – one in Sible Hedingham, Halstead and the other in Long Melford. Nick Hunt has been practising as a Pharmacist in East Anglia for over 25 years.

The deal which was closed today at Ellisons’ Head Street Office saw Sheila Graham and her son Phillip, advised by Robin Burnett of Burnett Barker Solicitors, sell the two outlets developed by the late Gordon Graham to NDH Enterprises Limited.

Both businesses will continue to operate under the same trading name and all 22 employees have been retained by the new owners.

The Ellisons Solicitors team was led by Head of Corporate Commercial Max Harnden who was supported by Partner Bryn Smart on property issues and Associate Jayne Scott on employment matters. Scrutton Bland was represented by specialist Corporate Finance partners Andy Higginson and Andrew Strickland.

Andy Higginson states “Scrutton Bland is very pleased to have assisted the purchaser Nick Hunt in all the financial aspects of the transaction. We look forward to a continuing relationship with the business and helping Nick Hunt to make the most of an enterprising opportunity”.

Ellisons partner Max Harnden comments:
“This is the type of deal that Ellisons are well suited to. We were able to provide our client Nick Hunt with the full range of legal advice needed to meet his objectives. And of course by working closely with our colleagues at Scrutton Bland, we were able to field a truly local team of experts for this entrepreneurial businessman and his new venture.”

Management duo buys McNamara Freight

January 2006

An Ipswich-based international freight forwarder has been bought by two of its managers.

McNamara Freight Limited was bought by a team led by John Sandell and Paul Sculpher for an undisclosed sum.

The company was sold by John and Rita McNamara, who established the business in 1989 and have retired following the completion of the sale.

John Sandell, who joined McNamara 15 years ago, and Paul Sculpher, who has worked for the company for 11 years, have become joint managing directors following completion of the deal.

The new owners plan to develop the business by expanding its import business and establishing greater trade with Eastern European.

The buy-out team was advised on the takeover by accountancy firm Scrutton Bland, which acted as its lead adviser, with Andy Higginson heading its team.

Andy commented, “We were very pleased to assist the Management Buy Out Team to achieve a successful transaction. The funding which was arranged not only facilitated the deal but will also allow the company to take advantage of future development opportunities. We look forward to an ongoing relationship with the MBO Team and the company.”

Also advising the Management Buy Out Team was Mark Henry, a corporate finance partner at law firm Birketts.

“All parties took a commercial and pragmatic approach for the transaction to proceed smoothly and the good relationship between the vendors and the MBO team enabled issues to be quickly and satisfactorily resolved,” he said.

Andy Higginson puts MBO on right track

Andy Higginson made sure his clients were on the right track when it came to a multi-million pound management buy-out of a specialist railroad machinery firm.

The deal is further testament to the Andy Higginson's status amongst the country's leading Corporate Finance advisers is SME transactions.
Andy Higginson played a central role in the buy-out of Rexquote Ltd - the UK's market leader in the manufacture of roadrail excavators and maintenance machines.
Converting plant machinery for use on the railways was the brainchild of the company's founder, Steve Morris. Since starting the company in 1989 it has grown to dominate the industry, supplying contractors with an estimated 80-85% of all roadrail maintenance machinery in the UK and boasting an annual turnover of £13m.
Now, with the help of Andy Higginson, Rexquote enters a new era, with Directors Dawn Hooper and Roger Soper at the helm.
Dawn and Roger were appointed directors in July 2000 and, working alongside Steve, have laid foundations for further growth and the development of world markets.
With Steve continuing to work in a sales capacity, Dawn and Roger have developed future plans for the company which include an additional factory and stores currently under construction at the company's site in Taunton, the introduction of innovative new products, and a launch into the global marketplace.
Rexquote's new Managing Director Dawn said: "The advice we received from Andy Higginson was invaluable. They assisted us greatly with the negotiations and the service we received was both highly professional and discreet."
"Steve has laid down a strong foundation. This is a new generation of Rexquote, we will continue to produce well-built, well-researched products and we intend to see Rexquote into a third and fourth generation, with our philosophy of uncompromising quality. We look forward to seeing what the future holds in store for us." She added.
The deal is the latest success for Andy Higginson, having conducted £20 million-worth of UK M&A deals in the last two years.
According to Principal Andy Higginson, his company's emergence as East Anglia's leading small deal corporate finance specialists is due to their hands-on approach in guiding clients through a structured and discreet sale process, and the company's invaluable database of potential purchasers.
"In this particular case, we were delighted to help Rexquote by building relationships to find a beneficial way forward for its founder, its directors and for Rexquote itself," he added. Andy Higginson made sure their clients were on the right track when it came to a multi-million pound management buy-out of a specialist railroad machinery firm.

Andy Higginson celebrates deal in excess of £3m

Andy Higginson was celebrating this week, having brokered a deal worth up to £3.4 million in the UK's electrical engineering industry.
Andy Higginson played a central role as lead adviser in the sale of AG Aylward Electrical & Mechanical Limited and AG Aylward EMS (Maintenance and Minor Works) Limited to the listed company T. Clarke plc, specialist electrical engineering contractors.
The Aylward companies - both electrical and mechanical engineering contractors based in Kimbolton, Cambridgeshire - have a strong regional presence, working for a wide range of public and private sector customers throughout East Anglia. Customers include local authorities, education authorities and housing associations.
Since their modest beginnings, as a one-man set-up in the 1970s, the companies have evolved to employ a total of 75 staff and report turnover for the year ended 30 September 2002 at over £6 million, profits before tax of £446,000 and net assets of more than £1 million.
Now, with the help of Andy Higginson, the companies start a new era, as part of the T. Clarke empire, following a cash consideration of up to £3.4 million dependent on the value of net assets at completion.
T. Clarke's Chief Executive Pat Stanborough said: "Our strategy is to grow the group organically and by acquiring high quality regional businesses that have a good geographical and business fit with our existing operations.
"We are confident that this business will fit well with our existing operations and will benefit enormously from being part of the larger T. Clarke Group."
The deal builds on the success of last year, when Andy Higginson conducted £13 million worth of UK M&A deals, consisting of some 11 transactions - a tally worthy of top five status in the UK200 Group Corporate Finance Panel's table of top small deal advisers.
"In this particular case I was delighted to help the owners of Aylward to find a good purchaser and complete a transaction which will help them plan for their eventual retirement."

Other deals exceeding £1million

• Sale of specialist steel lintel manufacturer to Irish buildings materials group listed on the London Stock Exchange.
  Andy Higginson acted for the vendors and managed the sales process.
• Sales of electronics group to English industrial group listed on the London Stock Exchange.
  Andy Higginson acted for the vendors throughout the sales process.
• Sale of paper converter to multi-million American private group.
  Andy Higginson acted for the vendors and managed the sales process.
• Management Buy Out of national executive chauffeur car hire business servicing national airlines.
  Andy Higginson acted for the Buy Out Team and managed the transaction.


• Sale of leading national coach hire business (with contracts with many Premiership football teams and Sky's Dream Team) to a Management Buy Out team.
  Andy Higginson acted for the vendors throughout the sales process.
• Sale of the European Division of a large private Canadian and American group, trading in paper distribution and conversion to a privately owned UK group.
  Andy Higginson acted for the vendors throughout the sales process.
• Management Buy Out of specialist school in East Anglia sold to its management and senior teaching staff.
  Andy Higginson acted for the vendors and managed the transaction.

Other Completed Deals

• Sale of Specialist church restoration builder to UK building group listed on London Stock Exchange.
  Andy Higginson acted for the vendors and managed the sales process.
• Sale of Patent Attorney Practice to the largest national firm of Patent Attorneys in the UK.
  Andy Higginson acted for the vendor in carrying out negotiations.
• Management Buy Out of national rural property surveying practice from former government agricultural consulting business.
  Andy Higginson acted for the Buy Out Team and managed the transaction.