27th March 2014
The successful completion of a business acquisition handled by Milsted Langdon has demonstrated the results that can be achieved when different departments from the same firm work together.
Susannah Adams, the firm’s corporate finance manager, advised on the acquisition of Almeda Facilities Management Ltd by Almeda Holdings Ltd.
Although the terms of the deal have not been disclosed, the purpose of the transaction was to facilitate the exit of a principal stakeholder to pursue other business interests.
However, what made the deal particularly notable was the fact that funding was provided by the bank, including a sizeable unsecured element, thanks to a strong set of financial projections provided by Chris Downing, who heads Milsted Langdon’s business intelligence team.
Also helping with the transaction was Rob Chedzoy, one of the firm’s tax partners, whose advice ensured that the deal was done as tax-effectively as possible.
Susannah said: “It is quite unusual to secure bank funding for such a transaction in this day and age, but this was made possible by our business intelligence team’s management information and projections, which provided a great deal of comfort to the bank that the loan could be comfortably serviced.
“Alongside Rob providing tax advice and myself handling the corporate finance side, we were able to complete the deal in three months. Everything went very smoothly, demonstrating that more is achieved when you combine the expertise of different departments, with each person bringing their respective knowledge to the table.”