Gambit Corporate Finance oversees quartet of deals worth £60m
Gambit Corporate Finance advised on four multi-million pound transactions in the UK. The company secured funding for The Rider Firm; a commercial mortgage for Creo Medical Group; the sale of a communications compliance business to Kerv; and the sale of Cwmtillery Glass Center – for a combined value of over £60million.
The Rider Company is a West-Sussex based online bicycle retailer that digitally designs, engineers and retails premium bicycle components including carbon and alloy wheels, bicycles and bicycle accessories. It also sells Privateer mountain bikes and Cairn e-bikes. Founded in 2013, the company is looking to expand into the US market with a subsidiary in Colorado, for which it secured seven-figure funding from Santander.
The financing program includes a revolving credit facility and a growth capital loan and provides The Rider Firm with the flexibility to grow the business. Foot Anstey provided legal advice to Santander UK, while Gambit Corporate Finance advised The Rider Firm on the deal.
Jason Evans, Partner, Gambit Corporate Finance, said: “The Rider Firm is an exciting and dynamic company driven by a passion for cycling and its products are widely recognized and highly respected. Gambit Corporate Finance is pleased to provide advisory support on this financing with Santander UK and looks forward to seeing the continued success and growth of the business over the years to come.
Creo Medical Group is a medical device company focused on the development and commercialization of minimally invasive electrosurgical devices. Founded in 2003 by Professor Chris Hancock, it was initially aimed at treating cancers through the use of high frequency microwave energy and dynamic adaptive techniques, but now offers a growing range of innovative medical devices designed for endoscopic surgeries.
The company is currently looking to expand its current operating facilities, following the acquisition of Creo House and its adjacent site in July 2021 for several million pounds. The additional space will accommodate a growing number of employees, increased business activity and manufacturing capacity. In order to achieve these ambitions, Creo obtained a commercial mortgage from Barclays Bank. Gambit acted as lead financial advisor to Creo on the deal, with a team led by Jason Evans, Sam Forman, Nick Gallagher and Harrie Thorrington.
Jason Evans, Head of Debt Advisory at Gambit, added: “We are delighted to have advised the Creo team on financing. The company expects significant growth in the coming years and we are excited to see Creo’s continued innovation and development in alternative clinical solutions. technologies.”
TDS Global HoldingsThe communications compliance practice has hired Gambit for a very different role, meanwhile. The team was looking for a buyer to support a management buy-out. To that end, Gambit advised a deal with Kerv. The Gambit team was led by Geraint Rowe, Sam Forman, Nick Gallagher and Lloyd Evans.
As an LDC portfolio company, Kerv can provide the communications compliance practice with access to global markets. Meanwhile, Kerv’s revenue will exceed £60m with the addition of the team’s expertise in managing legacy data. The newly branded Kerv Communications Compliance Practice provides critical communications compliance services to the world’s leading financial services organizations.
Sam Forman, Gambit Director, commented, “The Communications Compliance Practice will significantly enhance Kerv’s capabilities in FCA-regulated compliance services and ensure and ensure compliance across all channels, including mobile, Microsoft Teams , Zoom and Symphony, as well as social media and messaging platforms. This success is testament to Gambit’s deep knowledge and experience in the software and IT services industry in providing M&A advisory services. »
Cwmtillery Glass Center Finally is one of the UK’s largest independent manufacturers of insulating glass and toughened glass. Founded in 1996 with just one cutting table, it has since grown into a business with a turnover of over £15m a year and employing some 120 people.
The acquisition of the business, by an undisclosed acquirer, provides an equity outflow to the Ebbw Vale-based owners and husband-and-wife team of the business, Paul and Cerianne Hayward, who have developed a relationship of long-standing relationship with blue chip vendors including Pilkington and Guardian. Gambit Corporate Finance acted as lead advisor to CGC’s shareholders during the initiation, negotiation and structuring of the transaction. The Gambit team consisted of Frank Holmes, Simon Marsden and Nick Gallagher.
Marsden said: “Over the past 25 years, Paul, Cerianne and the team at CGC have built an exemplary company that has consistently delivered exceptional quality to its customers. It was a privilege to advise on this important step in the company’s trajectory. The transaction highlights the vast appetite of acquirers seeking entrepreneurial and resilient UK businesses.
The deals close as Gambit celebrates a milestone of its own in July 2022. The company’s 30th anniversary makes it the oldest independent corporate finance boutique in the UK, transacting valued accumulated over £3 billion since inception.