Lodders’ Corporate team breaks deals record

The Corporate team at Lodders has completed a record-breaking £100million total value of deals in the year ended 31 December 2022.

Notable deals for the team include the completion of the sale of Birmingham-headquartered Frontier Development Capital Limited to AIM-listed Mercia Asset Management plc in December 2022, followed hot on the heels by the £10million sale of Sweetfuels Limited to AIM listed NWF Fuels.

In November, Lodders’ team acted for management on the £20million sale of a leading sporting goods manufacturer based in Birmingham, and earlier in the year, acted for Coventry manufacturer Marrill Group on its acquisition of Stadco’s Powys-based pressings business, with support from the Welsh Assembly, helping to save 129 jobs in the region.

Lodders also continued working with fastener group Whitehouse Industries, based in Coventry, advising on further acquisitions, namely Fixings Plus and Ernest Engineering.

Graham Spalding (pictured), partner and head of the Corporate team at Lodders says the ‘very active period’ began in April 2022, with further deal highlights including advising caravan park business, SRG Parks, on the acquisitions of three luxury parks in Devon, and acting on the £18.5million group refinancing and construction of a new care home for Taylor & Taylor Care, a care home operator with locations in Oxfordshire.

The team continued to act for engineering software company Solid Solutions on its expansion programme, following its sale by LDC to Trimech, with a number of acquisitions throughout the year and more ongoing.

Active period of deals

“The number and value of deals completed by the team have surpassed previous figures, with 2022/23 being a very active, busy and rewarding period,” explains Graham Spalding. “As the team has grown, so has the typical deal size for us, and for the year ended 31 December 2022, we advised on deals with a total value in excess of £100million, up from around £50million in the previous year.

“We were particularly pleased to have acted on the sale of Frontier Development Capital to AIM listed Mercia Asset Management plc. A well-known funder to regional and national M&A deals, Frontier Development Capital is a significant provider of property finance, with £416million funds under management at the time of the sale.”

“2023 is looking to be another very busy year for corporate activity for the team,” he adds, “and we’ve already been instructed on several transactions set for completion in Q1 and Q2. We look forward to continuing to apply our expertise, experience, and scale to guide clients through their M&A journeys.”

Corporate team

Part of Lodders’ Business Services Group, the Corporate team has continued to expand, with Kate Allen joining the team as a newly qualified solicitor in September 2022, having completed her training contract at Lodders. The team provides expert legal advice to owner managers and national businesses looking to divest, grow and raise finance and is focused on advising owner managers on acquisitions, disposals and other corporate change, with typical deal values ranging from £1m to £20m.

Graham adds: “Whether you’re a business owner looking to sell, buy or raise finance or simply wish to discuss your business needs, the Corporate team at Lodders is here to help. Please call 07841 899 294 or email graham.spalding@lodders.co.uk to find out how we can support you and your business.”