Baldwins’ corporate finance team has recorded a landmark month after helping three Midlands firms to clinch multi-million pound takeovers.
The business advisory firm’s corporate finance team – which has over 40 staff operating across the Baldwins Group’s 90-plus offices throughout the UK – has attracted and facilitated inward investment from the technology, logistics and plant and machinery sectors.
Redditch-based geotechnical data company, Keynetix Limited, was recently acquired by leading global infrastructure software firm Bentley Systems after receiving approaches from a number of suitors in 2018. This transaction saw Baldwins complete the deal in just 57 days. US-based Bentley Systems employs more than 3,500 people, generates annual revenues of $700 million in 170 countries, and has invested more than $1 billion in research, development, and acquisitions since 2014
Haulage firm MTH Express Services Limited, based in Fradley, was acquired by private equity backed transport company Walkers Transport, which delivers 1.2 million pallets a year across 20 European countries from its Leeds base. Workshop equipment supplier Telford Group Limited, based at Stafford Park in Telford, was sold to Derbyshire-based national quarrying machinery business Robinsons Longcliffe Limited, enabling Telford Group’s owner to retire.
Martin Poole, Corporate Finance Director at Baldwins, and Mark Selby, National Head of Corporate Finance at Baldwins, worked on the deals.
And despite the Office for National Statistics revealing a decline in domestic and overseas mergers and acquisitions for the first three months of 2019 compared to the same period last year, Mark Selby stressed that there is plenty of potential for deals to be done.
He said: “These deals are a big vote of confidence for the Midlands region, and buck the wider trend of worry and gloom surrounding Brexit.
“There is substantial investment waiting in the wings from individuals and organisations, and banks are still willing to lend, and part of our job is to help connect these investors with businesses looking to take that next step.
“The transaction that we worked on for Keynetix was a great achievement for all involved, and such was the buyer’s keenness to get the deal done, we were able to complete the transaction in just 57 days. As part of the negotiation process, we met the buyers at their HQ in the US in order to reach an agreement on both the price and structure of the deal.”
Baldwins, a Cogital Group company, now has more than 90 offices throughout the UK, employing over 2,800 staff with an annual turnover of approximately £200m.