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Drive In Keeps On Rolling Forward

29th September, 2017

Drive In Autocentres (Drive In) has long been known for MOT testing and tyre servicing within the Black Country. For over 25 years it has operated from its depots in Blackheath and Halesowen. Barclays, a keen supporter of SME Businesses in the region, assisted Drive In by funding its acquisition of the premises in Blackheath.

Drive In used Hawkins Hatton Corporate Lawyers to assist it through the legal process and to negotiate all commercial aspects of the acquisition.

Trevor Kelleher, Managing Director of Drive In, said ‘Having secured the Blackheath premises it means we will now have an even more secure base to continue expanding and providing a service second to none within MOT testing and tyre servicing within the Black Country’.

Chris Perrins, Business Manager at Barclays Bank, said ‘It is always good to see a SME business continue to thrive and with the ever-expanding number of cars on the road, it is nice to know that we have customers who do their best to service the needs of the general public’.

Colin Rodrigues, Partner at Hawkins Hatton, said ‘It takes a lot of insight to look forward in any business and continue to grow. In these times of low interest rates, it makes commercial sense to borrow monies to secure commercial property’.

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Scaffolding Reaching New Heights

18th September, 2017

Metal Spraying (UK) Limited (“Metal Spraying”) is the Midlands leading manufacturer and supplier of construction equipment, based in Wolverhampton, and supplies two of the UK’s main scaffolding companies. Metal Spraying has always prided itself on providing unparalleled levels of service enabling it to supply its customers with bespoke products.

Metal Spraying has recently acquired Scaffolding & Construction Products Limited (“SCP”) from Alumasc Group plc (“Alumasc”) in order to continue to expand its national foot print. SCP has established itself as a leader in its field as a supplier of non-mechanical construction equipment both in the UK and internationally.

This deal created one of the largest construction product suppliers in the UK with a group turnover in excess of £20 million.

The deal was funded by HSBC and arranged by Partho Bose, Senior Relationship Manager. HSBC Area Director for Business Banking in the Midlands, Steve Peart, said: ‘HSBC has a £10bn fund to support SMEs in the UK and we are committed to helping British businesses like Metal Spraying take the next step in their business ventures. We look forward to our continued work with Metal Spraying and to seeing the business grow over the coming years.’

Legal support was provided by Hawkins Hatton and Colin Rodrigues (Partner) said: ‘on the face of it, a deal of this kind looks simple, however it is always challenging to ensure that the commercial negotiations fully address the legal risks involved for both parties. I was pleased that we covered both of these bases and still delivered the deal within a very tight timeline for both the bank and Metal Spraying’.

Ranjit Dale of Metal Spraying said: ‘This deal will generate additional business and employment opportunities within the Wolverhampton area, which is extremely important to a local company such as ours. This demonstrates why the Midlands is the beating heart of UK manufacturing’.

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Hawkins Hatton's Free Trade Dinner At Weston Park On Thursday 23rd March 2017

21st August, 2017

Photographs of the attendees of Hawkins Hatton's Free Trade Dinner at Weston Park on Thursday 23rd March 2017.

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Morris Corfield Plough Through

11th August, 2017

Morris, Corfield & Co. Limited (Morris Corfield) is a leading supplier of agricultural machinery in Shropshire, Herefordshire and Cheshire. Morris Corfield has created this reputation via dedicated support for high tech machinery and investment in highly trained technicians. It is a main dealer for CLAAS, a €3.6 billion manufacturer.

In order to keep up with growing demands, Morris Corfield purchased a new site on which it is developing a purpose-built warehouse and offices, with the help of Hawkins Hatton Corporate Lawyers and funding from HSBC. The new site will be its hub for Herefordshire.

Colin Rodrigues (Partner at Hawkins Hatton) said ‘throughout the transaction, foresight was required in order to pre-empt any issues that might arise during the transaction and thereafter during development of the site’.

Jon Forster (Relationship Director, Corporate Banking) said ‘it is imperative for the bank to meet the commercial needs of its customers, and when HSBC has a blue chip customer such as Morris Corfield bank support becomes even more crucial, to ensure its continued expansion into the future'.

Oliver Morris said that 'thanks to this development we will soon be able to support our Herefordshire customers in the same way that HSBC and Hawkins Hatton have supported us’.

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Casting A New Future

13th July, 2017

Investacast Limited is one of the UK’s leading suppliers of investment castings with over 50 years’ experience in the sector, covering industries such as aerospace, automotive, marine, communications, military, oil and gas and electronics. Investacast’s approach is one of a holistic service from design, research and development to final production and stock holding. In order to service its clients, Investacast operates from its Ilfracombe-based foundry and has supply chain partnerships throughout Asia, providing ISO9001 accreditation and guaranteeing quality which is second to none.

The founding shareholders of Investacast wanted the business to move to its next stage of growth and development, and as such proceeded with a management buy in (‘MBI’) earlier this year. The MBI was led by Alistair Schofield (Managing Director of Expromet Technologies Group Limited). Alistair Schofield said ‘looking at the pedigree of Investacast, this is one of the UK’s top precision casting businesses and it is a great pleasure to become part of the management team to assist in the continued growth of the business at a national and international level’.

In order to fund the MBI Expromet approached HSBC, given its background and expertise in the manufacturing sector. Martyn Drayton (International Relationship Manager at HSBC) said: ‘As a global bank and, given Investacast’s global connections, it was only natural for us to assist in funding the transaction, which was achieved through a mixture of debt and structured working capital facilities’.

Colin Rodrigues (Corporate Partner at Hawkins Hatton) said ‘when acting for the bank, as we did in this transaction, it is always important to strike the right balance between ensuring the bank is fully protected and meeting the commercial needs of the customer’.

Jat Najran (CF Adviser at M&A Business Transactions) said that ‘it was a delight to work with Alistair and the team, to help support and guide them through this exciting chapter. It has been great to be involved in a deal like this, advised and funded by the Midlands corporate finance community, and I look forward to seeing them go from strength to strength’.

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MSA Have The Prescription For Success

27th April, 2017

Over the last five years MSA Global Holdings Limited (‘MSA’) has continued its expansion of pharmacy businesses throughout the West Midlands and Worcestershire. Having only purchased the Droitwich pharmacy in 2015, Manor Park Pharmacy in 2016, MSA started negotiations with the owners of Anichem Limited (‘Anichem’) this year. Anichem owned pharmacies within Nuneaton and Rugby.

MSA have built up their revenue to over £40 million with offices in Europe (United Kingdom and Germany), Africa (Uganda and Djibouti) as well as strong sales into the Middle East. The Group has expanded its focus from pharmaceuticals to medical devices, dental consumables and supplies to veterinary practices. The Group projects to reach £60 million revenue by 2020.

Shan Hassam, Managing Director at MSA, said that “having purchased many pharmacies over the last few years you would naturally expect the process to become easier, but there are always new challenges, especially in a sector which is facing constant change. That said, with the right team of advisers to support us we achieved the ultimate goal. We’re also excited by the new proposed Health Centre in Rugby and are keen to expand our services there to provide patients with the very best service possible.”

Manny Sahota, RMY Clements Limited, said that “having worked as MSA’s accountants for a number of years it is great to see how their business has developed and grown from strength to strength, and I know that with the new acquisition of Anichem MSA’s brand will continue to energise the pharmacy sector”.

Colin Rodrigues, Corporate Partner at Hawkins Hatton, said that “with the recent cut backs in the pharmacy sector, consolidation is happening more frequently, but the key is to find good pharmacies with the ability to adapt to the changes that the sector is facing. As such I know Anichem will be the right fit for MSA”.