Acquisition Archives

Markross121_ November 16, 2022 No Comments

Binance to Buy FTX in Major Cryptocurrency Exchange Merger

Public squabble between the two largest offshore exchanges’ bosses led to run on FTX and forced sale

The two largest offshore cryptocurrency exchanges are merging, after a week of public squabbling between Binance’s chief executive, Changpeng Zhao, and FTX’s boss, Sam Bankman-Fried, triggered a bank run at the latter’s exchange and an embarrassing forced sale on Tuesday.

“This afternoon, FTX asked for our help,” tweeted Zhao. “There is a significant liquidity crunch. To protect users, we signed a non-binding letter of intent, intending to fully acquire FTX.com.”

The news was confirmed in a tweet by Bankman-Fried. He said: “Things have come full circle, and FTX.com’s first, and last, investors are the same: we have come to an agreement on a strategic transaction with Binance for FTX.com pending DD etc.”

The deal will see FTX being “fully acquired” by Binance, in return for covering the cash crunch at the embattled exchange. Further terms were not disclosed by either party.

Both Binance.US and FTX.US, the associated American regulated exchanges of the two companies, will remain independent.

Bankman-Fried is a major donor to the US Democratic party, and FTX was a top-20 contributor to Joe Biden’s presidential campaign, giving over $5m. Bankman-Fried is reported to have donated about $40m this year in the run-up to today’s midterm elections.

The two chief executives are among the most prominent players in the industry, known by their initials – CZ and SBF – and each capable of moving markets with just a tweet. They have worked together in the past, with Binance investing in FTX at the exchange’s inception.

Sony Music buys UK podcast producer Somethin’ Else

Sony Music is latest after Spotify, Amazon and Apple to try to cash in on boom in audio listening.

Sony Music has acquired the UK’s largest independent podcast producer, Somethin’ Else, which makes David Tennant’s interview series and The Sun King, David Dimbleby’s deep dive into the life of Rupert Murdoch.

Home to artists from Beyoncé and AC/DC to Dolly Parton, Sony is using the acquisition to spearhead the launch of a new global podcast division.

“Our new global podcast division is key to our plans for a fast-paced expansion in the market, diversifying our creative abilities and providing a home for exciting content that will benefit millions of podcast lovers around the world,” said Dennis Kooker, the president of global digital business and US sales at Sony Music Entertainment, the Sony subsidiary that struck the deal.

Companies ranging from Spotify and Amazon to Apple have been snapping up now increasingly scarce prime podcast producers and platforms to cash in on a boom in audio listening and diversify away from a reliance on music streaming.

Private equity brushes off past club deal woes with $34B Medline buyout

Private equity’s biggest guns are once again showing they can have record-setting buyout firepower when they work as a team.

After recently backing away from so-called club deals that bring together multiple firms, the industry now has its largest acquisition in years. The Carlyle Group and Hellman & Friedman have joined forces to acquire Medline in a deal reportedly worth around $34 billion, including debt.

The deal comes after US private equity firms amassed approximately $721 billion in dry powder as of June 30, 2020 following years of record fundraising outputs. And it may signal that club deals involving multiple buyout shops have returned after they fell out of favor following a series of high-profile flops.

The Medline deal also marks the largest private equity buyout by value in at least a decade, according to PitchBook data. So far in 2021, private equity firms have struck 13 deals in the US worth $5 billion or more, surpassing last year’s total of 11.

Vehicle Bodyshop Providing FM Services to Government

Achieve Corporation: Steering Success in Business Sales

At Achieve Corporation, we specialise in guiding businesses to successful outcomes. Our recent project, the sale of CSG Ltd, showcases our capability in handling complex transactions. CSG Ltd, known for its efficient FM services to government authorities, represented a unique opportunity in the market.

Objective-Driven Market Analysis:

Our first step was a thorough market analysis to understand the business’s value. We benchmarked the potential share price, ensuring it accurately represented CSG Ltd’s market position and future growth potential.

Targeted Buyer Sourcing:

We focused on identifying trade buyers whose management culture and ethos aligned with CSG Ltd. This strategy was critical to ensure a smooth transition and continued business success post-sale.

Securing Competitive Bids:

Our efforts led to four competitive sealed bids, demonstrating the high market interest in CSG Ltd. Each offer was carefully evaluated against the exiting shareholders’ criteria.

Efficient Sale Management:

The sale process was managed with precision, focusing on transparency and efficiency. Our role was to oversee each stage, ensuring a seamless transition to completion.

Results: A Showcase of Strategic and Tactical Expertise:

The outcome was the successful sale of CSG Ltd, marked by securing offers that met our client’s expectations. This achievement highlights our expertise in navigating complex sale processes and achieving optimal results for our clients.

Conclusion – Your Strategic Business Sale Partner:

Achieve Corporation is your expert partner in business sales. Our experience with CSG Ltd demonstrates our ability to handle complex transactions effectively, making us an ideal choice for bankers, corporate advisors, solicitors, and entrepreneurs seeking proficient sale management.

For further information, arrange a private, confidential call at a time to suit you with Mark Roberts – Senior Partner: Financial Modelling and Valuations Analyst (FMVA) and Commercial Banking and Credit Analyst (CBCA).

Email Mark at mark@achieve-corporation.com

Or visit our Home page by clicking here.

Markross121_ December 21, 2020 No Comments

Mergers & Acquisitions Modelling

Achieve Corporation act as either the buy or sell side advisors on corporate transitions. This experience in a dual role gives us a valuable insight into the metrics, thought process and modelling needed to successfully plan the financial aspects of a merger or acquisition.

Our modelling can be used as either a:

Pitch deck to seek funding for a project
Back up financials for sign off at Board level planning committee
Feasibility studies to highlight potential financial synergies on acquiring targets in either a horizontal or vertical sector

The Achieve Corporation M&A modelling includes:

Acquirer & Target Models – Map financials, 3-statement model, discounted cash flow model
Deal Assumptions – Inputs, synergies, financing, value added and goodwill
Accretion/Dilution – Pro forma per share metrics
Closing Balance Sheet – Acquirer + target, adjustments, goodwill and pro forma
Sensitivity Analysis – Intrinsic value per share, ROE, ROI, changes in assumptions
Pro Forma Model – Combination of synergies, 3-statement model, Discounted Cash Flow

For a discussion in the strictest confidence about the benefits of our M&A model, please contact Mark Roberts Senior Partner at Mark@achieve-corproation.com

Fee Structure As Flexible As You. Unlock Your Business Potential

Markross121_ August 11, 2020 No Comments

UK IFA Practice

Achieve Corporation: Your Catalyst for Exceptional Financial Success

Welcome to Achieve Corporation, the hallmark of excellence in financial advisory and strategic mergers and acquisitions. Our recent collaboration with a UK Independent Financial Advisor (IFA) Practice, a sector-specific giant, underscores our proficiency in navigating the complex realms of high-stakes financial transactions.

The Mandate: A Confidential Auction with High Stakes

The UK IFA Practice, managing a substantial £990 million in funds, entrusted us with a critical mission: to conduct a confidential auction as their sell-side advisor. This task required not just expertise in financial management, but also a deep understanding of the delicate nature of such high-value transactions.

Our Role: Strategic Advisory at Its Finest

As the sell-side advisor, we were tasked with orchestrating a confidential auction that required a blend of discretion, strategic insight, and financial acumen. Our approach was meticulous, ensuring every aspect of the auction was managed with the utmost professionalism and strategic foresight.

Delivering Results: A Landmark Transaction

The culmination of our efforts was nothing short of extraordinary. We successfully led the trade sale of the client, resulting in an acquisition by a Financial Services Company with a staggering £1.2 Billion turnover. This achievement not only signifies a remarkable milestone for our client but also cements our position as a leader in the field of financial advisory services.

Quantifiable Success

Funds Under Management: £990 Million
Sale Outcome: Acquisition by a £1.2 Billion Turnover Company
Role: Confidential Auction and Strategic Sell-Side Advisory

Why Achieve Corporation?

For bankers, corporate finance advisors, legal advisors in M&A, business owners, and entrepreneurs, Achieve Corporation is not just a consultancy; we are your strategic partner in navigating the complex financial landscape. Our expertise in managing high-value transactions and our commitment to confidentiality and strategic insight make us the go-to advisor in the financial sector.

Your Partner in Financial Excellence

Our track record in managing successful transactions is unmatched. We don’t just advise; we transform financial scenarios to maximise value and opportunity for our clients. Partner with Achieve Corporation, and propel your financial ambitions into reality.

Conclusion

At Achieve Corporation, we excel in turning complex financial challenges into success stories. Our work with the UK IFA Practice is a testament to our ability to manage high-value transactions with precision and strategic acumen. Let us be your guide in the journey to financial triumph.

Email Mark at mark@achieve-corporation.com

Or visit our Home page by clicking here.

Markross121_ August 5, 2020 No Comments

F.M. Company – Large Scale Electrical Testing

Client – F.M. Company – Specialising in Large Scale Electrical Testing.

Instruction – Conduct confidential auction as sell-side advisor.

Role – Project managed auction process and managed the sale to completion.

Result – Secured five sealed bids all matching Client’s criteria. Led transaction to completion and the acquisition of the Company by Ansor Group Ltd.

Markross121_ September 2, 2019 No Comments

Sale of British Steel subsidiary to French firm protects 400 jobs

York-based TSP Projects will be folded into Systra, which will take on pension liabilities

A subsidiary of British Steel has been sold by the government to the French company Systra in a deal that protects 400 jobs.

The deal is not expected to have any impact on discussions on the rest of British Steel, as exclusive talks continue between the government’s official receiver, the state employee managing the sale, and Oyak, the Turkish military pension fund.

York-based TSP Projects, which designs and builds large rail infrastructure projects, will be folded into Systra. The proceeds of the sale are likely to be allocated to lenders to British Steel, which collapsed into liquidation in May.

Neither the government nor the companies disclosed the sale price but Systra will also take on TSP’s £70m pension liabilities, a hangover from the company’s days as a division of British Rail before privatisation.

Craig Scott, the chief executive of TSP Projects, said the liquidation of British Steel had never threatened his company, which was performing well and counted firms including Network Rail, Siemens and Costain among its clients.

“We would always have found a buyer,” said Scott. He added that he was “pleased to get out from the association with British Steel in administration and to be able to get on with focusing on our business. We’re moving to an owner where we’re part of their core business and it’s a permanent home.”

He said Systra and TSP Projects were growing, meaning that none of the company’s 400 jobs would be lost and more staff could be hired. “We do not have sufficient people to deliver the pipeline we have got coming, so together we need to grow,” he said.

TSP Projects has worked on projects such as the redevelopment of King’s Cross and Reading stations and is also working on infrastructure at Gatwick airport’s station and upgrades to the TransPennine Express rail route.

Most of its employees are based in York but it also has outposts in Birmingham, Manchester, Reading and Bristol.

Systra, an engineering group specialising in transport, is owned by the French state railway companies SNCF and RATP, which runs public transport in Paris, and a consortium of French banks.

Sainsbury’s shares dive after Asda merger put in doubt

Sainsbury’s shares have dived 15% after the UK’s competition watchdog cast doubt on its plan to buy Asda.

Customers could see higher prices and less choice if the two grocers combined, the Competition and Markets Authority (CMA) said.

It said it could block the deal or force the sale of a large number of stores or even one of the brand names.

However, it also said it was “likely to be difficult” for the chains to “address the concerns”.

Sainsbury’s boss said the findings were “outrageous”.

In its provisional report on the proposed merger, the CMA also said the merger could lead to a “poorer shopping experience”.

Stuart McIntosh, chair of the CMA’s independent inquiry group, said it had found “very significant competition concerns in a number of areas – they are to do with grocery shopping in supermarkets, grocery shopping online and the companies’ petrol stations”.

“However, if one recognises that the competition concerns are quite broadly based… putting together a package of measures which addresses those concerns is likely to be complex and quite challenging,” he said.

But Sainsbury’s chief executive Mike Coupe described the CMA’s analysis as “fundamentally flawed” and said the firm would be making “very strong representations” to it about its “inaccuracy and lack of objectivity”.

“They have fundamentally moved the goalposts, changed the shape of the ball and chosen a different playing field,” he told the BBC.

“This is totally outrageous.”

Cathedral City maker Dairy Crest to be bought by Saputo

Dairy Crest, whose brands include Cathedral City cheddar and Country Life butter, has agreed to be bought by a Canadian company in a near-£1bn deal.

Saputo, one of the biggest dairy processors in the world, will pay 620p a share, valuing Dairy Crest at £975m.

The deal is Saputo’s first in Europe and it said Dairy Crest was an “attractive platform” for UK growth.

Dairy Crest said “virtually” all its 1,100 UK jobs are safe, including 150 at its head office in Surrey.

However, the Unite union said it would be “seeking an urgent meeting” with Saputo about assurances over job security.

Dairy Crest’s share price, which has risen steadily this week, had jumped almost 12% in late morning trading on Friday.

08:00 – 18:00

+ 44 800 044 8128

Head Office,