Acquisition

Publicis Groupe has continued its acquisition push by purchasing Kitcatt Nohr, a London-based digital agency.

March 9, 2011

Following its acquisitions of Interactive Communications and Holler, Publicis will merge Kitcatt Nohr with its own digital agency Digitas, creating Kitcatt Nohr Digitas.  Founded in 2002, Kitcatt Nohr has clients including Body Shop, John Lewis, Lexus and Shell.  Stephan Beringer, president of Digitas International comments: ‘There are many synergies between Digitas and Kitcatt Nohr, which both [...]

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Pearson continues education and training acquisitions as it is set to acquire EDI for £112.7m

March 7, 2011

Pearson is to acquire Education Development International (EDI), in a deal valued at £112.7 million.   In a statement, Pearson said both sides had reached agreement on the terms of a recommended cash offer of 200 pence per share. That represents a 61% premium on the closing price of 124 pence on 4 March 2011, [...]

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Brand Valuation

January 27, 2011

Brand, and therefore brand valuation, is a specific intangible asset that a great many business owners aspire to and which under the right circumstances can lead to greatly enhanced values for businesses as a whole. However it is worth remembering that a brand in itself has no value unless it provides a greater draw to larger [...]

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EBITDA Multiples

July 27, 2010

EBITDA Multiples represent the most common method used by corporate finance advisors, Private Equity and corporate acquirers for valuing businesses. The acronym specifically relates to Earnings Before Interest, Tax, Depreciation and Amortisation.  As a profit figure it is therefore independent of these features – independent of tax, independent of artificial accounting policies that relate to [...]

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UK Capital Gains Tax

March 25, 2010

Whilst there was not a great deal coming out of yesterday’s budget, the one small piece of good news for those involved in M&A was the doubling of the ‘Entrepreneurs Relief’ threshold that applies to uk capital gains tax.  The level has been moved from £1m to £2m, whereby business vendors who have held their [...]

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Value a business – the various methods

March 20, 2010

There are several methods which can be used to value a business, some more theoretical and some more practical. As most finance courses explain, the perfect method to value a business is known as Discounted Cash Flow (DCF). Here the future cash-flows generated from a business or project are calculated and discounted back to today’s [...]

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Rockworth advises technology MBO of telemetry business, Arkessa

March 3, 2010

Background Vianet PLC was a leading Aim-listed telecoms business offering wireless connectivity and telemetry primarily to the vending market-place.  In December 2008 the Vianet business was acquired by another Aim-listed company, Brulines PLC, with the strategic intent to bring together the two companies operations within the vending and leisure markets. Opportunity Following the acquisition it [...]

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Wokingham Plastics Engineering Company acquisition of Cox Thermoforming Limited

February 5, 2010

Background Wokingham Plastics remains one of the largest and most-respected plastics thermoforming businesses in the UK.  With products ranging from furniture to aircraft components, the company is a key supplier to many different OEM’s.  The business had undergone a Management Buyout prior to our involvement with the Sales Director and Technical Director jointly acquiring the [...]

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