29th October 2014
2014 has been a great year so far for the Milsted Langdon corporate finance team, with an average of one successful transaction completing each month (if only that had been how the timing worked!).
Two of the five successful acquisitions were in the bingo industry, with the entry to the market of Majestic Bingo, a newly launched equity and debt funded market entrant. Milsted Langdon advised Majestic on the acquisition of two businesses this year, providing a total club portfolio of 15, and with a value well into eight figures.
Milsted Langdon provided Majestic with input on valuation and negotiation. In addition, the team provided financial due diligence, projections modelling giving clarity on the key metrics of the deal both its debt and equity funders.
Undertaking transactions of this size is made possible through a close collaboration between Milsted Langdon’s dedicated Corporate Finance team, who provided the advice and reporting, and Business Intelligence who provided the analysis and the modelling. The flexibility in this combined team of 10 enables them to manage transactions of all sizes, which have ranged this year from this multi-million pound acquisition to a £1.2m disposal on the lead advisory side.
Commenting on the acquisitions Managing Director Mark Jepp (pictured with Susannah Adams of Milsted Langdon, who led the corporate finance team) remarked: “This is an exciting new opportunity for me to bring my years of industry experience and offer a fresh approach to a highly popular leisure activity which has suffered in recent years from under-investment in the overall customer experience. Milsted Langdon provided tremendous support throughout the transaction in a clear and friendly, but highly professional way.”
Susannah Adams added – “this was a challenging transaction, but very enjoyable – a great example of a collaboration of expertise to achieve a highly successful outcome.”