Mergers and Acquisitions in May 2021

     
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    According to Business Intelligent Bureau Van Dijk, May proved to be a fairly busy trading period with 104 transactions recorded for the month. Overseas acquirers were also relatively active during the time with a recording of 38 deals.

    The largest transaction for the month was the £3.8 billion acquisition of G4S plc by Atlas UK Bidco Ltd. G4S is a leading global security company, specialising in the provision of security services and solutions to customers. The company is now part of Allied Universal and is currently quoted on the London Stock Exchange. G4S plc is active in around 80 countries and employs around 533,000 employees.

    Another significant deal recorded was the £400 million acquisition of KMPG LLP’s restructuring business by Managing Directors. The sale of the business, which sees circa 528 staff and 22 partners transferring to Interpath, enables KPMG to accelerate its programme of investment in its core audit, tax, deals and consulting services for clients. Jon Holt, Chief Executive of KPMG UK, said, “This is the best possible result for both KPMG and the Restructuring business. It will enable us to accelerate our investment in our core services and take advantage of the significant market opportunities ahead of us. Throughout this process, a key priority has been to ensure the stability and future success of the Restructuring business and its talented people. This deal will help the team at Interpath to do just that, whilst giving them the opportunity to serve a broader client base and realise their full growth potential. We wish them every success in the future.”

    Other higher value deals for this month include the acquisition of RDI Reit plc by SOF-12 Cambridge Bidco Ltd for £325 million; AWAL Digital Ltd by Sony Music Entertainment Inc. for £304 million; M12 Solutions Ltd by Fern Trading Ltd for £250 million; Invesco Enhanced Underwriting Ltd by City Merchants High Yield Trust Ltd for £130 million; Tesco Underwriting Ltd by Tesco Personal Finance plc for £123 million; Kier Living Ltd by Foster Bidco Ltd for £110 million; Auria Solutions UK I Ltd by Auria Solutions Ltd for £85 million; Future Climate Info Ltd by Dye & Durham Ltd for £67 million; Wey Education plc by Inspired Education Online Ltd for £66 million; DRC Capital LLP by Savills Investment Management LLP for £65 million; and Eat Ltd by PAM Group Ltd for £60 million.

    Clermont Leisure (UK) Ltd was acquired by Mayfair Casino Ltd for £23 million. The acquisition is in line with Mayfair Casino’s long-term plans to expand its footprint in London. This becomes Mayfair Casino Ltd’s second property in the city, following the previous acquisition of Napoleons Casino on Leicester Square, which later re-opened as Horizons Casino. A spokesperson for Mayfair Casino says, “We’re very happy it have added such a well-respected and historical brand to our portfolio and will now focus on a smooth transition period before we begin on rebranding and refurbishing the property. It’s a very exciting time for Mayfair Casino Ltd.”

    Some of the overseas deals that took place during this reporting period include the acquisition of Terrafirma IDC Ltd by Dye & Durham Ltd; ayondo Markets Ltd by BUX Holding BV; Thermal Transfer Solutions by GT Holdings (HK) Ltd; AVR International Ltd by CW Systems Integration Ltd; Sundawn Ltd by a private investor; MaxWell Downhole Technology Ltd by Lodestar International LLC; and Hollandia Structures BV by Standard Investment Management BV.

    In summary, May’s M&A activity has taken place in a number of different sectors, with significant deals contributing to this month’s overall figure. With active public trade buyers as well as private equity investors, the UK continues to appeal to acquirers from both the UK and overseas. 

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