Our Corporate Finance team are celebrating a duo of deals.
The team acted as lead advisors on the acquisition of a holiday park located in a picturesque area of the north west of England. The park was acquired by a family with other successful business interests, who were looking to diversify. Armstrong Watson also acts for the vendors, another successful family business, who have provided luxury self catering holiday homes, touring and motor home pitches throughout the north west of England for over 40 years. The family own a number of holiday parks, that also offer caravans for sale from all leading manufacturers, and the divestment of this park met with their primary objective which was to release capital so they can expand into larger holiday parks.
Richard Rankin, Corporate Finance Partner comments, “It is great to see the holiday park being passed from one successful family business to another. There were a few hurdles along the way but by working closely with the clients, we understand their needs and goals and were able to support both families, never losing sight of their original reasons for coming together. I am looking forward to working with and seeing both businesses continuing to achieve their growth aspirations.”
HSBC provided funding to the purchasers. Legal advisors for the purchaser was Napthens Solicitors, and for the vendors, Hill Dickinson.
The team’s second deal came in the shape of The Atlas Group selling its Vodafone business to Connect Telecoms Holdings Ltd. The award-winning Atlas Group manages radio, mobile voice & data, fixed line & hosted communications, ICT solutions together with business interiors and space design; helping organisations minimise costs and maximise the potential of their IT, communications and business environment with a single, coherent supplier.
Armstrong Watson’s Corporate Finance team acted as advisers for Atlas on the sale and Baines Wilson provided legal advice on the transaction. Armstrong Watson also advised on the initial purchase of the business back in March 2008. Since then, the Atlas management team have significantly grown the Vodafone business which was sold as part of their long term strategic plans. The Atlas group has ambitious plans for the future and Armstrong Watson continues to work with the management team to achieve these.
Both deals are excellent examples of how the team continues to work alongside businesses, helping their clients with their long-term strategies and not just a single transaction.
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