In the summer of 2018 we completed the sale of Infinite Learning & Development (“ILD”) to TTE Technical Training.

Michael took the ILD team from an initial discussion around the potential sale of the business in July 2017, through the process of grooming the business for sale, identifying and marketing the Company to potential buyers and then leading the negotiations through to final completion.

ILD is a training business based in Peterlee, County Durham which enjoys some fantastic customer relationships, notably with Caterpillar, and it was these relationships that created the value for the exiting shareholders.

Commenting on the deal, Steve Grant, TTE Managing Director, said “We are thrilled to welcome ILD into the TTE family.

“The acquisition of ILD supports our vision to be the instinctive first choice for business and people transformation by delivering training that improves industry’s performance and enhances lives.

“This is a very positive and exciting acquisition for our employees, customers and everyone involved.”

During 2018 we carried out ten Due Diligence exercises and two Independent Business Reviews for three North East Funders: FW Capital, Maven Capital Partners and NEL.

Due diligence highlights included the £825,000 investment in Parsons Containers, led by Maven, as well as the first deal completed by Maven’s new North East Development Capital Fund - £325,000 into pharmaceutical manufacturer Rokshaw.

For NEL, we worked on a number of investments including £350k into Sustinere, an engineering firm specialising in renewable energy solutions, and £250k invested in Ronco, a County Durham precision engineering business.

Our work for FW Capital included Financial Due Diligence related to its investment in Aedis Regulatory Services, a leading compliance specialist in the field of building regulation.

A number of the projects carried out by our team are confidential, as they relate to commercially sensitive contract arrangements.

If you have a requirement for our due diligence or IBR services, please give Michael a call or contact us via the form below.

Maven Capital Partners Parsons Containers Ltd FW Capital
NEL Fund Managers Sustinere UK Ronco Engineering Ltd

 

 

In July we helped Flame Heating Group secure significant financial backing from HSBC UK in order to realise its ambitious plans to expand the business.

Mark worked closely with John Savage, Managing Director of Flame Heating Group and led the relationship with Stuart Henry, Relationship Director at HSBC UK. Legal support and due diligence were provided by Muckle LLP, Ward Hadaway and Clive Owen LLP.

John said: “Mark and his associates at Irving Ramsay were instrumental to securing the deal with their ongoing advice and guidance.  Stuart and the wider HSBC UK Corporate Banking team understood our aims from the very beginning, and the collaborative expertise of all parties involved ensured a smooth process that will allow us to continue on our growth trajectory.”

“We have enjoyed seven consecutive years of growth and are now in a position to drive forward our expansion plans. Our branch network has continued to thrive as a result of investments in our workforce, new services as well as emerging technologies, and this financing deal will strengthen the Flame brand further by allowing us to continue delivering on our ambitious strategies.

John added: “It is an exciting period for Flame and we are looking forward to making our ambitions a reality, as a result of securing this finance deal.”

Gordon Forster, Area Director at HSBC UK, said: “John has a clear vision for his business and their exceptional service and focus on renewable energy solutions sets them apart. We place great importance on supporting local businesses, communities and economies. Flame has clear plans for expansion and we were thrilled to help support the next step in the business’s progression.

The Heating & Plumbing merchant is expecting to more than double its workforce with the creation of at least 60 new jobs after securing a £4m funding package from HSBC UK.

The deal will also see the Gateshead-headquartered company, which currently employs 59 staff, launch several branches in the North East and enter new regions over the next three years.

Established in 2011 with a single branch in Gateshead, Flame has grown to become the North East’s fastest-growing Heating & Plumbing merchant, which currently operates 11 trade counters across the region and in Scotland.

The company specialises in heating spares for commercial and domestic applications, renewable energy solutions and bathrooms, working with a number of leading, global manufacturers.

If you would like to discuss the above in more detail, particularly if you have clients looking to secure funding or maybe funding a management buyout, please call Mark at any time on 07730437617 or email via the form below.

Established in 2011 with a single branch in Gateshead, Flame has grown to become the North East’s fastest-growing Heating & Plumbing merchant, which currently operates 11 trade counters across the region and in Scotland.

The company specialises in heating spares for commercial and domestic applications, renewable energy solutions and bathrooms, working with a number of leading, global manufacturers.

If you would like to discuss the above in more detail, particularly if you have clients looking to secure funding or maybe funding a management buyout, please call Mark at any time on 07730437617 or email via the form below.

September saw the completion of a £1.5m investment by YFM Equity Partners in our client e2E Engineering Limited.   e2E is an engineering consultancy business operating in the telecommunications industry, with sites in Gateshead and Welwyn Garden City.

Michael first got involved with the Company when NEL Fund Managers made a mezzanine investment in 2016, for which he provided financial due diligence services.  He has remained involved since then, providing advice on the latest round of investment as well as financial advice and support to the board.

Michael will remain involved in an advisory post-investment as the business continues its growth and development phase.

If you would like to discuss the above in more detail, particularly if you have clients interested in securing investment for their business, please call Michael at any time or email via the form below.

We have completed three financial due diligence exercises for NEL Fund Managers during the last few months. Our work assisted NEL in its investment decision making processes when making Growth Fund investments into:

OneGym is a no-frills fitness business  e2E Satcom, which is developing miniaturised satellite communication technology Storck Raddar UK, a high-end cycling company

 

These were three very different companies, operating in a contrasting range of markets, and each presented its own challenges in terms of the particular investment risks involved.  Irving Ramsay was able to add value to the FDD exercise by bringing its wide range of operational experience to bear, to complement a detailed financial analysis of each business.

If you are (or have clients) making debt/equity investments or acquiring other companies please feel free to get in touch to discuss how our due diligence services could help the decision making process.

In July we completed a multi million pound development capital transaction for Alexanders Prestige, a client based in Boroughbridge, North Yorkshire. This £50m turnover group sells prestige cars in addition to new and used horseboxes (under its own brand and as exclusive UK distributor for the Hungarian company Lehel).

Funding was provided by Yorkshire Bank (unsecured cashflow loan) and Lombard (car stocking finance).

Mark worked with the management team of Alex Brimelow and Andrew North to define their strategy and develop a business plan. He then led the finance raising process with funders, negotiating the deal for the team and advising them through to legal completion (legal advice provided by Muckle LLP). The process took in the region of seven months to complete.  

Mark has now been retained by the team to sit on the board and advise from an investor relations perspective.

If you would like to discuss the above in more detail, particularly if you have clients interested in taking cash out of their business or maybe funding a management buy out, please call Mark at any time on 07730437617 or email via the form below.