Gambit Corporate Finance LLP, has had a busy time over the past fortnight, announcing 4 deals across the UK with a cumulative value in excess of £60m.
The transactions involved public, private and equity-backed parties, consisting of cross-border subsidiary spin-offs, fundraisings and divestitures, demonstrating the company’s value-added service delivery and team capability delivering client results and complex transactions in a busy environment. Market environment.
Securing funding for The Rider Firm, a West-Sussex based online bicycle retailer, from Santander to facilitate growth plans.
Obtained a multi-million pound commercial mortgage for Creo Medical Group Plc, a medical device company focused on the development and commercialization of minimally invasive electrosurgical devices, from Barclays for its headquarters in Chepstow.
The multi-million pound sale of the Communications Compliance Practice business of US headquarters TDS Global Holdings, a legacy data management expert, to Kerv, an LDC portfolio company. The acquisition will strengthen Kerv’s existing portfolio and capabilities across all aspects of compliance and increase Kerv’s revenue to over £60 million.
The multi-million pound sale of Cwmtillery Glass Centre, one of the UK’s largest independent manufacturers of insulating glass and toughened glass.
These recent successes come on the back of Gambit also celebrating a milestone in July, the company’s 30th anniversary. The achievement makes the firm the oldest independent corporate finance boutique in the UK, completing transactions worth a cumulative value of over £3 billion since its inception.
Geraint Rowe, Partner commented,
“We are delighted to complete these transactions for our valued customers. Sales of TDS Communications Compliance Practice and Cwmtillery Glass Center show that high-quality assets continue to attract significant interest across different sectors. Sellers are benefiting from value creation in what has been a resilient UK M&A market, supported by widespread availability of low-cost capital, growth-hungry private equity funds and an ever-increasing desire to execute transactions when favorable market conditions and fiscal climate present themselves. ”
Jason Evans, partner added,
“Recent rate hikes are not surprising, with persistently high inflation pushing the BoE to tighten monetary policy, including larger and faster policy rate hikes and accelerated quantitative tightening policies. However, despite the macroeconomic conditions, demand for capital markets transactions remained for high quality borrowers, impact on debt sustainability remains limited in the short to medium term Financing is available for expansion with Barclays backing Creo Medical with the expansion of its headquarters in Chepstow and The Rider Firm obtaining financing to support its growth plans.
Frank Holmes, Partner concluded,
“After 30 years of success, the last fortnight has shown that we have not slowed down and are still focused on delivering customer-driven results. This comes after a banner year for Gambit in 2021 and the expectation that 2022 will surpass it, supported by industry tailwinds, our valuable and exciting customers, a strong pipeline and a growing team.