KBS Corporate achieved one completion every three days in August
Whilst the UK enjoyed the sunshine and a summer break, KBS Corporate was busy completing 10 deals throughout the month of August alone – averaging one completion every three days.
The manufacturing sector was, by far and wide, the most active industry throughout August, with several key deals falling into this sector. KBS manufacturing clients who saw a successful culmination to their journey included a distributor and manufacturer of insulators for the utilities sector, a machining specialist, and a furniture manufacturing company.
Notable deals within the manufacturing sector include the acquisition of Adan Limited, Adan Holdings Limited and Hydraulic & Mechanical Services (Boston) by Indian-based trade buyer Veljan Denison Limited. The opportunity attracted no less than 39 interested parties from the UK and overseas, which enabled KBS Corporate to generate a 5x deal multiple. The acquisition will enable Veljan Denison Limited to strengthen its position in the European market.
Another impressive deal facilitated by KBS Corporate was Sweden based Addtech’s acquisition of Allied Insulators Limited. KBS Corporate generated a competitive bidding environment, resulting in four competing offers.
The engineering, facilities management and wholesale sectors also saw deal activity throughout August, alongside the freight transport industry. Deals within these sectors include the acquisition of On Track Recruitment which attracted 17 interested parties and three offers, resulting in a deal multiple of 7.5x. The successful bid came from The Sammons Group, and the acquisition will enable the group to broaden its geographical footprint and strengthen its client base. Post completion, the current Business Director at On Track Recruitment will be promoted to Managing Director ensuring continuity of service quality.
KBS Corporate also oversaw the sale of Spencer ECA Group Limited, a holding company with two trading subsidiaries, Spencer Environmental Care Associates Limited and Quantum Geotechnic Limited. The Group is a highly regarded provider of construction industry support, practical land management and geotechnical consultancy and contracting services. The final offer came from RSK Group and represents RSK’s second acquisition through KBS Corporate within the past year, having previously acquired EIB Group.
Within the wholesale sector, KBS Corporate advised on the acquisition of Quayside Frozen Foods (Newcastle) Limited, a well-established and respected provider of wholesale frozen foods and dry products, by The Pentagon Food Group Ltd with backing from Khan Investment Holdings Ltd. KBS Corporate generated an impressive deal value of 13x multiple of pre-sale profits.
Whilst activity throughout August covered a wide range of industries, showing the resilience of the M&A market at present, KBS Corporate also attracted a variety of buyer types. Interest was generated throughout UK and Overseas trade, including ultimate sales to Swedish and Indian corporates, private equity-backed acquirers, and a successful sale to an Employee Ownership Trust.
August’s dealmaking activity is a true reflection of KBS Corporate’s strong performance thus far in 2022, in a year which has seen our Group named the UK’s most active advisor for the first seven months of the year by Refinitiv.