SamCorp advised on the buy-in/buy-out of £10m turnover, Surrey based technical professional recruitment company Calco Services Ltd, having been appointed by the Operations Director, Bill Gray and an experienced buy-in colleague, Fergus Mariner.
The vendors were the Managing Director and his wife, who also worked in the business. Bill Gray held an option over 10% of the shares.
SamCorp negotiated with the vendors and their advisers on the price and structure of the transaction and introduced funders. The BIMBO team investment aided by a small vendor deferral precluded the need to raise equity and debt-funding offers were obtained from two clearing banks. SamCorp prepared flexible forecast models to demonstrate the business’ cash generation capability and to aid the selected funder’s due diligence.
SamCorp introduced and worked alongside the team’s legal advisers in the period leading up to completion of the purchase.
Bill Gray says:
“SamCorp guided us through the process and added value at all stages. They secured a very competitive funding solution and looked after the interests of the BIMBO team in structuring the deal.”