Paul Weavers, director of corporate finance at Numerica, said the transaction was particularly complex because Zoggs had businesses in Australia, Hong Kong and the UK. The Kendal Group has been established as a vehicle to build a portfolio of international sports and leisure brands. It is expected to acquire three to five more companies.
Jackson Stephen, the accountants and business advisers, has advised Branded Drinks Partnership on the acquisition of the business of Wessex Craft Brewers, which had been in administration. Jeff Barber, head of corporate finance at Jackson Stephen, also advised the management team of Texchem UK in the purchase of the company shares from the founder shareholders.
An Ernst & Young study has found only 39% of companies increase their profits post IPO. E&Y said the first year after flotation was particularly bad for profits as expenses associated with the IPO hit companies’ bottom line. Sales, however, increased in 82% of the 200 companies, following their IPO.
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.