Client Testimonials
Management Buy-In (MBI/MBO) at James White Engineering Ltd, Thames Valley
First Flight introduced the lead purchaser (MD) to the target company from its database plus an investing Non-Executive Director to provide sufficient equity. Thereafter we secured the funding package and negotiated on behalf of the MBI team with the vendors advisors.
- Enterprise value for the transaction: £3.1m
- Cash on completion: £2.4m
- Deferred contingent: £250k
- Deferred non contingent: £150k
- MBI team acquires 80% of the equity with 3 key managers acquiring 20%
- 5 year term loan, Invoice Finance and Asset Financing package provided by HSBC, Swindon
- Legals on behalf of purchasers provided by Morgan Cole, Bristol
- Financial Due Diligence undertaken by Burton Sweet Bristol
- We managed the transactional process on behalf of the MBI team through to completion
Management Buy-In (MBI) at Centristic Ltd, Devon
First Flight introduced the lead purchaser (MD) to the target company from its database plus a Non Exec Chairman to form the Buy-In team.
- We negotiated the price on behalf of the MBI purchasing team with the vendors advisors
- Secured the funding package
- Managed the transactional process on behalf of the MBI team through to completion
- Enterprise value for the transaction: £2.5m
- Cash on completion: £1.8m
- Deferred contingent: £500k
- Vendor Loan: £200k
- MBI team acquires 100% of the equity
- 5 year term loan and commercial mortgage package provided by HSBC, Taunton
- Legals on behalf of purchasers provided by Morgan Cole, Bristol
- Financial Due Diligence undertaken by Old Mill, Exeter
Trade Sale of Perspective Living Ltd, West London
First Flight introduced the purchaser to the target company from its database and managed the transactional process along these lines:
- Vendor achieved his exit at his target price
- Enterprise value for the transaction: £693k
- Cash on Completion: £428k
- Deferred contingent: £264k
- 30% of vendors (son of majority owner) take shares in acquiring company