M&A round-up: Walker Crips, Randall & Quilter, Marwyn ...
Also included in this round-up: Advanced Power Components
Financial services group Walker Crips is to sell its corporate finance subsidiary Keith, Bayley, Rogers & Co (KBR) to BWV investments.
The purchase price is £75,000 over the value of KBR's assets as at the end of October; these are expected by the Walker Crips directors to be in the region of £270,000.
Specialist non-life insurance investor Randall & Quilter Investment Holdings has completed the acquisition of Capstan Insurance, a Guernsey domiciled captive insurer, from the owners Roger and Elizabeth Bullivant. Capstan was acquired by Randall & Quilter at a discount to the Guernsey firm's net asset value, which is currently estimated at around £5.4m.
Acquisition vehicle Marwyn Management Partners has acquired the German bus operations of both the Bonifer Group and Kraus-Reisen for €1.1m. Marwyn will also assume €4.0m of net finance lease obligations as part of the acquisition. Together, the two acquired businesses own 34 buses running contracted local bus services in the region of Frankfurt, Germany. The businesses generated revenue of around €5.1m in 2011.
Advanced Power Components, the energy saving technologies firm, has entered into an agreement for the acquisition of the entire share capital of CeroUK, a newly incorporated "green" technologies company. Advanced Power is paying for the acquisition through the issue of 310,000 shares and £23,250 in cash, giving a value of around £60,000 to CeroUk.