Scrapping of entrepreneur’s relief rumours spurs spate of last minute deals

Baldwins Corporate Team[6]

The Midlands team of Baldwins Corporate Finance has completed six deals in the space of just one week in the push to get transactions completed ahead of the Budget.

The deals completed were from a broad range of sectors.

The team advised the vendors of Coventry-based waste management business, Tom White Waste on their sale to Coventry City Council, for £14.75m.

The multi-million-pound MBO of Stanmore-based branded merchandising firm, Initial Incentives, one of the largest providers of branded promotional and retail merchandise to a growing number of well-known brands, was also advised upon by the Baldwins’ Midlands team.

Baldwins Corporate Finance advised the owners of Burton-on-Trent based home brew wholesaler, Ritchie Products Limited, on their sale to Bevie Partners Limited, for an undisclosed sum.

The team also completed the sale of a leading independent insurance broking business based in the West Midlands.

Baldwins advised the Lovell family on the buy-out of their business, Commercial Truck Repairs (Wolverhampton) Ltd, passing on the company to the next generation of the family.

Finally, the Baldwins Corporate Finance team completed the sale of Telford Motors Ltd, a Peugeot motor dealership, to Budgen Motors Group to complement its existing franchises.

Mark Selby, who is also the National Head of Corporate Finance at Baldwins, commented, ‘’Our team has been extremely busy over the last few months advising on transactions across multiple sectors, culminating in the completion of six deals in the space of just one week.  The rumours relating to possible restrictions of entrepreneur’s relief, or even its scrapping altogether, fuelled the drive to get these deals done.  Encouragingly, though, our pipeline of future transactions remains very strong.”