Mergers & Acquisitions in May 2019

 
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According to Zephyr, 161 acquisitions of UK companies took place in May, of which 48 were overseas acquirers. The largest transaction of the month had deal value of over £3.2 billion, where Camelot Holdings (Jersey) Ltd was acquired by Clarivate Analytics PLC.

 

Another high deal value involved the acquisition of Ophir Energy plc by MedcoEnergi Global Pte Ltd, which completed with a transaction value of over £408 million. This was an ideal acquisition as Ophir’s assets are highly complementary to MedcoEnergi’s current portfolio and the combined business creates regional leader in the oil and gas sector in Southeast Asia. It is anticipated that this acquisition will increase MedcoEnergi’s 2019 pro forma production by approximately 30%.

Hilmi Panigoro, President Director of MedcoEnergi, comments, “We are delighted to have success

fully completed the acquisition of Ophir, which firmly establishes MedcoEnergi as a leading oil & gas player in Southeast Asia. This acquisition further underlines our strategy to selectively expand MedcoEnergi’s presence and we believe it will create value for all our stakeholders”.

Deal activity for May was impressively high with 44 deal completions taking place in just the first three days of the of the month.  A few of these deals include the acquisition of: Country Park Dental Practise by Clacton Dental Care Ltd; Hedderwick Ltd by Oakman Inns & Restaurants Ltd; Bellvedi Ltd by Tracsis plc; Lambert Automation Ltd by Mpac Group plc and; Fastrack Retail (UK) Ltd by Pollard Banknote Ltd.

 

Sunshine.co.uk., an internet travel agent, was acquired by On The Beach Travel Ltd in a deal value of £12 million. The transaction is highly complementary, as it will contribute about 200,000 customers to the 1.2 million customers currently using On The Beach. Chief executive Simon Cooper of the acquiring company states, “We are delighted to have acquired a brand as well-established with beach holidaymakers as Sunshine.co.uk”.

 

Away Resorts Ltd, who provide the provision of management services, was acquired by Bregal Freshstream LLP in successful deal value of £100 million.

 

Well Played Games Ltd, a company that specialises in the publishing of computer games, was acquired by Phoenix Games Holding Gmbh. Gould Hall Computer Services Ltd was acquired by Sanderson Group plc in a deal value of £4 million.

 

Manx Telecom plc, a company that provides communication solutions and offers a range of fixed line, broadband, mobile and data centre services to businesses and consumers, was successfully acquired by Kelion Bidco Ltd with a deal value of £256 million.

 

Geo-Info Ltd, a company involved in professional, scientific, and technical activities, was acquired by SML Group Holdings. Tom Harpin, managing director of SML Group Limited commented, “This acquisition will enable us to compete with the top surveying businesses in the country, with a substantial market share and over a hundred staff.”

 

MSQ Partners Group Ltd who participate in marketing and advertising services, was acquired by LDC (Managers) Ltd in successful deal value over £37 million in order to accelerate growth. John Clark, Investment Director at LDC in Manchester, comments, “The team at MSQ have built a truly formidable business that is able to provide full-service, marketing, communications services on an international scale. The business retains its independence, agility and culture that continues to attract some of the best talent in the market.”

 

As a whole, a variety of sectors were involved in this May’s deal activity, including the completion of significant high-value deals. The interest in UK companies remains from both UK and overseas acquirers, with trade buyers and private equity investors making acquisitions.

 

Our team are highly experienced in company valuations and M&A and can assist you in realising the value of your company, whether your intention is to consider your exit strategy options or explore another avenue. You can call our team in confidence on 0203 441 2003. Alternatively, you can use our free, online valuation calculator to determine the value of your company.

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