Grant Thornton’s corporate finance team acted as advisers in the deal, financed by business finance provider NBM-Heller.
Mark Tomalin, who managed the deal for Grant Thornton said: ‘On the face of it this was not a complex transaction but it did require a unique funding structure.’
Webcon, based in Sunbury, Middlesex, supplies 16,000 different stock lines and is one of the world’s biggest suppliers in the carburettor market.
Martin Eva, sales director at Webcon, said the company was impressed with the speed and flexibility with which the deal went through.
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.