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April 2008
International Software Leader Buys UK Company
Toronto Stock Exchange-listed software company Constellation Software Inc, acquired Chorley-based 2K Technology Group Limited ("2K"). 2K is one of the market leaders in agribusiness software solution supply, consisting of two brands, Cal Software Ltd and Kinross Software Ltd.
CLB Coopers Chartered Accountants acted as tax and corporate finance lead advisors to 2K Technology on the sale.
The deal completed in the late hours of Friday 4 April 2008, and is a yet another example of the heightened corporate finance activity seen across the country this first quarter.
The CLB Coopers team was led by David J. Travis, Managing Partner, and Nick Smith, Manager both of the Manchester office.
David J. Travis, said
"This acquisition provides an ideal strategic acquisition for Constellation to enter this niche vertical in Europe. The quality products provided by 2K opens up numerous opportunities for expansion in not only their existing agri-vertical, but commodity trading software in general"
Cal Software's Managing Director, Ken Hailwood said
"We look forward to becoming part of the Constellation team. This relationship provides us with access to greater resources and expertise in order to grow our business internationality while continuing to provide innovative and cost-effective solutions to our valued customers."
Terry Montague, a corporate partner at law firm Brabners Chaffe Street, and assistant Adrian Rogers advised 2K Technology on its acquisition by Constellation Software Inc.
Mr Rogers commented: "The timescales on this deal were tight, with completion having to fall within the April 05 deadline."
"But with excellent cooperation from all parties, things went smoothly and 2K can now look forward to a very prosperous future under its new ownership."
April 2008
It's just one deal after another for Mick and his team...
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CLB Coopers advised distribution and warehousing company F Swain & Sons on the acquisition of Sibley Haulage which
followed a previous acquisition less than two weeks before, seeing the Cheshire-based company clocking up some significant
corporate finance miles.
The strategic Corporate Finance advice covered forecasts, fundraising, tax and project management and was provided by
partner of the Manchester office, Steven Lindsay, Andy Feeke and tax partner Alex White.
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Steven Lindsay |
Legal advice was provided by Ian Mainman and team at Perkins Mainman.
F Swain’s Managing Director, Mick Swain said "These acquisitions will help us achieve an increase in our client base
and means that our geographic coverage will be much greater."
Steven Lindsay of CLB Coopers said "This is an important milestone for Mick and his team at Swain, and with economic
factors affecting this sector of late, it shows that Swain remains buoyant and strong".
April 2008
Halliwells and CLB Coopers Advise On Sale Of
Richardson Projects Holdings Ltd
Halliwells and CLB Coopers have advised Richardson Projects Holdings Ltd on the sale of the business to Rok plc.
Halliwells' corporate team was led by partner Rebecca Grisewood and associate Christian Doyle.
At CLB Coopers, deal originator, David J Travis said "The success of this transaction, given the current construction market, is a credit to a whole team of people including the deal team at CLB Coopers, Halliwells’ corporate team and our client. The acquisition provides an excellent opportunity for Rok plc to expand its service to the social housing market via a very strong regional player in the North West."
Richardson was founded in 1983 and operates across the North of England covering Greater Manchester, Lancashire, Cheshire, Merseyside, North Derbyshire and Yorkshire. The business specialises in the provision of new build and refurbishment services to the social housing sector principally under a number of long term framework agreements. Richardson has offices in Rochdale and Leeds and employs over 350 staff of which some 180 are skilled trades people. The business will become part of Rok's Northern operations.
Founder and Chairman Alan Richardson will be remaining with the business for a minimum period of six months to oversee the transition into Rok. Managing Director Clive Walker and other senior managers, Stuart Bellfield, Derek Gooch and Jenny Kovacs have signed new service agreements for a minimum period of two years and will be remaining with the business in their present roles.
Alan Richardson commented: "This is an ideal opportunity for Richardson Projects to join a major player in the industry with a similar people orientated culture to our own. It will also provide national backing for the existing management team to continue Richardson's growth in the social housing market. The strength that Rok brings will enable Richardson Projects to enhance its service to its clients."
February 2008
Bolton and Bury Business Awards
 CLB Coopers are sponsoring the SME Business of the Year award at the Bolton and Bury Business Awards. This judging panel is looking for a company or enterprise which has made an indelible
impression in the business world. It could be a firm with just two or three employees or many more as long as it has a turnover of up to £3 million. Innovation, expertise and imagination
are just some of the qualities that will help firms qualify for this award. The winner might be in the service sector, retail or any kind of business which is small now but has big ideas.
The company must be located in the Bolton or Bury area. Click here for more details about the awards.
If you would like to enter your business or you would like to enter a business on their behalf, please speak to Nicola Gainey on 0161 245 1039 or email ngainey@clbcoopers.co.uk.
Please note that entries close on 25th April 2008.
January 2008
| Mark Sykes, Partner at CLB Coopers, has won Young Dealmaker of
The Year 2008 Award at The Insider Lancashire Dealmakers Awards 2008. The awards reward the top corporate finance dealmakers in Lancashire
as they are recognised by the industry and by the cream of corporate finance in the red rose county.
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Over 320 professionals and business
people attended the prestigious event, which was held at Blackburn Rovers FC on 31 January 2008, to celebrate the cream of Lancashire
corporate finance activity. All the awards were voted for by the dealmaking community itself.
To contact Mark, please call 01524 54 1200 or email msykes@clbcoopers.co.uk
January 2008
CGT Changes – Some will win but a lot will not.
On 24th January Alistair Darling MP has outlined his proposals for the reformation of the capital gains tax system for individuals.
The headline is that the flat rate of 18% will be introduced for disposals made on or after 6th April 2008, however he has brought in a concession which is aimed at the small business entrepreneur- so called Entrepreneur’s Relief. The press release is headed up “New Tax Relief for Entrepreneurs” – this is stretching things a little and a may have been more accurately entitled “The Removal of Relief for Entrepreneurs is not going to be as quite as bad as we originally said!”
The Chancellor has kept the capital gains tax rate at an effective 10% in a limited number of circumstances.
The 10% tax rate will only apply to the first £1m of gains made on qualifying assets during the person’s life time. We presume that the life time clock will start to run from 6th April 2008.
Qualifying assets are trading businesses and certain shares in trading companies. To qualify for the relief on the disposal of shares in a trading business the investor will need to own at least 5% of the shares of the business and have voting rights of at least 5% and also have been an employee or officer of that, or a group company. It appears that these requirements will need to have been fulfilled for a year prior to the disposal.
This concession is aimed at disposals of the very smallest businesses and although the saving of £80,000 on disposals will be welcome for larger transactions the current concession does not go a long way to alleviate the extra tax cost that will now be incurred by many entrepreneurs on an exit from their business.
If you have any questions on this please do not hesitate to speak to your usual tax contact or Rick Schofield on 0161 245 1000 or rschofield@clbcoopers.co.uk
January 2008
CLB Coopers joins Leading Edge Alliance
November 2007
CLB Coopers - best in the North West – it's official!
October 2007
Smart Identity plc – Admission to Plus Markets
September 2007
3Dnorth CADCAM Services Ltd - MBO
August 2007
Sale of E.T. Hire Limited
July 2007
From HMRC to CLBC - Janice relishes new challenge
June 2007
Agribusiness Leader Cal Software Limited Makes Acquisition
May 2007
Furnishing The Future
April 2007
Doug Chadwick makes it a hat trick for CLB Coopers
February 2007
Change in the temperature at EHS following MBO
February 2007
Buy-out opens door for expansion for property firm
January 2007
CLB Coopers Expands Tax Team
January 2007
New Partner returns to the North West
December
2006
Deals Report - MBO of Northern Joinery Ltd
December
2006
EMI Scheme - Could your business benefit?
December
2006
CLB Coopers
Acts As Reporting Accountant To Hasgrove On £22M Aim Listing
November
2006
Prestigious
award for youngest partner
November
2006
CLB
Coopers parks another deal
October
2006
MBO
secures future of SAT Business Travel Management
September
2006
News
editor buys firm 13 years after joining as reporter
August
2006
New
partner returns to the North West
July
2006
£450
Chip for Charity
July
2006
Turning
up the heat at Vernaware
June
2006
Mike
hands over £16,000
June
2006
Loanmakers
join Debtmatters
CLB Coopers chartered
accountants advised on the disposal of Bolton based Loanmakers to
Debtmatters plc for...
June
2006
CLB
Coopers fighting unfair treatment of Trusts
CLB Coopers chartered
accountants have written to a number of MPs requesting that they
reconsider proposals...
May
2006
Tax
efficient profit extraction
CLB Chartered
Accountants are holding a series of breakfast seminars for Bolton
businesses in June at their Chorley New Road office...
April
2006
Thwaites
acquire Wirral Inns
CLB Chartered
Accountants advised Daniel Thwaites plc on its recent acquisition
of Wirral Inns Ltd...
February
2006
Footie
Chick heading for Premiership
CLB Coopers acted
as advisors on the restructuring of Footie Chick Ltd, where former
Americana entrepreneur Alan Horridge has joined...
December
2005
HM
Revenue & Customs Decision Overturned – Christmas Bonus
For Family Business Owners
Today’s
High Court decision to overturn a previous ruling that caused uncertainty
for thousands of small business owners will be welcomed...
December
2005
A-Day
- A date not to be missed, 6th April
In the last edition
of taking: account the director of our financial planning company,
Stewart Tomlinson, summarised the major changes...
October
2005
£6,134.56
to be exact - A Night 2 Remember indeed!
Lancaster chartered
accountants and business advisors CLB Coopers sponsored a ‘Night
2 Remember’ on Saturday 15th October; a vibrant musical celebration...
October
2005
Plant
& Machinery – Is your lease a loan? Be careful!
HM Revenue and
Customs will shortly be finalising changes to the taxation of leased
plant and machinery...
August
2005
Tax
avoidance and Employee Benefit Trusts
CLB Coopers say
that a recent decision against the Taxpayer, heard at the House
of Lords, could have further implications as HM Revenue & Customs
attempt to curb tax avoidance...
July
2005
Six
of the Best – More promotions at CLB Coopers
Just days into
its new structure, CLB Coopers announces more promotions to strengthen
its management team...
July
2005
Beware!
Directors could owe Thousands
CLB Coopers is
urging directors to beware after a landmark House of Lords case
has decided that directors whose companies have gone bust...
June
2005
CLB
Coopers hits the ground running with immediate promotions
Northern accountants
and business advisors CLB Coopers is delighted to announce the promotion
to Associate level of three key managers...
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