Corporate team update
We had a very strong February which saw a jump in revenue from the equivalent month in 2014. Most of this growth came about as a result of a great month for the Corporate team which concluded 4 deals in February. Those deals included:
- a management buy-out of TKC Sales Limited, one of the UKs leading equipment distributors for Action Sports and Active Lifestyle Brands;
- the sale of the majority of the shares of Etherlive, a Chippenham based company, which provides Wi-Fi to festivals across Europe;
- and the sale of the entire share capital of Hands-on Health, a small chain of chiropractors based in Bristol and Bath and the surrounding areas.
Our Corporate team has grown from a core team of 5 up to 9 members including those that work to promote In-house Lawyer, our wraparound legal service for SMEs. It is anticipated that the team will grow to 14 in 2016. Overall Gregg Latchams employs over 70 staff including 9 directors who work either in their Bristol office on Queen Square or in their satellite office on Manchester Square in London.
Commenting on the deal activity and prospects for 2015, the head of the Corporate team, Paul Hardman says:
“The amount of deal activity reflects the fact that there is more confidence in the economy generally and that companies are looking to grow by acquisitions. We are confident that Gregg Latchams will continue to grow its business in a sustainable way and we are reaping benefits from using a sector approach and focusing on key industries where we have specialisms. 2014 was a pretty strong year for us in our Manufacturing, Digital & Tech and Food & Drink sectors, and we have recently recruited more lawyers with specialist knowledge in the Real Estate & Development sector and hope that this will be a strong source of revenue for us in 2015.”
Richard Boissevain the exiting shareholder of TKC Sales reflected on the deal process;
“This was a good deal for all involved, delivered to a tight timescale, by the highly professional team at Gregg Latchams (GL) in Bristol. Paul Hardman who led the MBO for GL, worked hard to deliver a complex deal, involving multiple stakeholders, on time. GL team knows when to up the pace and Paul has the requisite pragmatism to find ways around the inevitable obstacles during the process. I look forward to working with them all again.”