ESE Direct Ltd based in Norwich was established since 1975 and had grown to become a leading supplier of industrial and commercial products across the UK with sales of £6.5m. JDC carried out a competitive marketing process, including international competitors in Portugal, Germany and Sweden, before finalising terms with Slingsby PLC, an AIMs listed organisation, for a total consideration on a cash free/debt free basis, all payable on completion.
The second transaction was for 100% of the issued share capital in Bowden & Knights Livestock Services Ltd, a specialist animal welfare company based in Thetford, Norfolk. The selling shareholders had over 60 years’ knowledge and experience in the poultry industry, building a strong reputation for quality and service to a client base ranging from local farmers to numerous blue chip companies. Following an extensive marketing campaign, The Elta Group were identified as the preferred bidder. The Elta Group has a current turnover of c. £100 million, with group companies operating across four continents. The deal consideration was undisclosed.
Jon Dodge, founder of JDC Corporate Finance, commented as follows:
“The successful completion of these two deals further illustrates the growing demand we are experiencing within the East Anglian market place. Both of these sales involved family run SME companies, yet our experienced transaction team and detailed marketing processes meant we attracted interest and offers from PLCs and international groups, reiterating that East Anglia is becoming an attractive region for investment. Having just celebrated our tenth anniversary, we are expecting 2015 to be one of the most buoyant years for M&A transactions, with our current pipeline forecasting a number of trade disposals and private equity investments in the next quarter. We fully expect this demand for quality businesses in Norfolk and Suffolk to continue throughout the remainder of the year and beyond.”