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A Fresh Perspective in Investment Banking

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A Fresh Perspective in Investment Banking

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A Fresh Perspective in Investment Banking

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A Fresh Perspective in Investment Banking

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About

Blackdown Partners was founded to deliver clear, practical and independent advice to Boards and Executive Leadership Teams to enable them to execute successfully their long term corporate strategy for the benefit of all stakeholders.

​While a substantial body of our work is transactional by nature – Corporate Finance, ECM and M&A – this is often as a consequence of having developed a thorough understanding of our clients’ business and Board objectives through our Consulting activities. We enjoy working alongside our clients to assist development of their brands, corporate identity and culture, to strengthen shareholder comms and engagement, to develop new business lines and activities, and build really effective Boards.

As ‘Trusted Advisers’ we are never afraid to challenge convention or consider an alternative approach if it will deliver a better outcome for our clients and their stakeholders. We encourage our clients look beyond capital markets, to see the bigger picture, firm in the belief that this approach drives long term consistent success and value creation.

The Blackdown brand was inspired by the Blackdown Hills, an Area of Outstanding Natural Beauty in South West England. The absence of cityscapes and skyscrapers on our website reflects this inspiration, but it also speaks to our free and unconstrained approach.

Activities

Corporate Finance

  • Mergers & Acquisitions
  • Capital Structure
  • Management Buy-Outs

Equity Capital Markets

  • Initial Public Offering
  • Secondary Capital Raises
  • Block Trading

Consulting

  • Corporate Strategy
  • Strategic Communications
  • New Business Development
  • Investor Relations and Engagement

Experience

Acquisition of Daniells Harrison

Advised Begbies Traynor Group plc

January 2022

Blackdown Partners advised Begbies Traynor Group plc on its acquisition of Daniells Harrison Surveyors LLP.

Daniells Harrison is a firm of chartered surveyors employing 27 staff who will integrate with Eddisons, Begbie Traynor’s property advisory and transactional services division.

Acquisition of the VCT business of Mobeus Equity Partners

Financial Adviser to Gresham House plc

September 2021

Gresham – Project Neo

Blackdown Partners acted as Financial Adviser to Gresham House plc on the acquisition of the VCT business of Mobeus Equity Partners for up to £36.1 million. Mobeus is a UK-based investment firm managing assets across two distinct client groups, one of which is the VCT business with a combined AUM of £369 million.

The addition of Mobeus’ scaled, high performing set of VCT funds to the Gresham House group will create a leading player in the VCT segment with c.£850 million of combined VCT AUM post acquisition. The larger asset base and additional investment team members will provide an opportunity to increase fundraising and deployment across the enlarged Group’s two VCT brands, being Baronsmead and Mobeus.

Also advising Gresham House on the transaction were Eversheds Sutherland and Deloitte.

Sale to Air Partner plc

Financial Adviser to Kenyon International shareholder PT Lobos LLC

August 2021

Kenyon

Blackdown Partners acted as Financial Adviser to the owners of Kenyon International Emergency Services on the sale of the company to Air Partner plc for up to $11.7 million.

Kenyon, founded over 115 years ago, is the world leading emergency planning and incident response company, and this transaction with Air Partner brings together the extensive real-world experience and resources of two complementary organizations, creating a powerful group that will allow its customers to further consolidate their incident planning, training and emergency response operations into a more integrated system.

Also advising on the transaction were Marriot Harrison LLP and Hirschler.

Shaftesbury PLC capital raise of £307 million

Independent Adviser to the Board of Shaftesbury PLC

November 2020

Shaftesbury – Project Cooper

Partners acted as Independent Adviser to the Board of Shaftesbury PLC on its £307m capital raise.

Also advising Shaftesbury on the transaction were Hogan Lovells and Ernst & Young.

Sale of Multi-Dwelling
PRS Portfolio

Blackdown Partners advised Family Office vendor

October 2020

Project X

Blackdown Partners advised a Family Office on the sale of a multi-dwelling ‘Private Rented Sector’ portfolio.

Ted Baker plc capital raise of £105 million and
sale of HQ for £72m

Independent Adviser to Board of Ted Baker plc

June 2020

Ted Baker

Blackdown Partners acted as Independent Adviser to the Board of Ted Baker plc on its £105 million capital raise and sale of its headquarters for £72 million.

The capital raising forms part of a holistic financing package and broader strategic transformation plan, ‘Ted’s Formula for Growth’, to navigate the challenges of the global Coronavirus pandemic and return the Company to profitable growth.

Also advising Ted Baker on the transaction were Freshfields and Deloitte.

Gresham House plc acquisition of TradeRisks Ltd

Financial Adviser to Gresham House plc

March 2020

Gresham House – Project Hurlingham

Blackdown Partners acted as Financial Adviser to Gresham House plc on the acquisition of Traderisks Ltd for up to £11 million.

The acquisition allows Gresham House to enhance its social and affordable housing offering for clients, an area identified as structurally important to the UK economy, through a capable management team with a strong track record. Gresham House expects the acquisition to be immediately earnings enhancing, increasing its AUM to £3.0 billion and driving additional shareholder value creation.

Also advising Gresham House on the transaction were Eversheds Sutherland and Deloitte.

Air Partner plc acquisition of Redline Worldwide Limited

Financial Adviser to Air Partner plc

December 2019

Air Partner – Project Radar

Blackdown Partners acted as Financial Adviser to Air Partner plc on its acquisition of Redline Assured Security for up to £10 million.

Redline is a global leader in the delivery of government-standard security training and solutions to international airports, airlines and aviation sector related companies, critical national infrastructure, stadia and event managers, and corporates. The acquisition is a further progression of Air Partner’s long-term corporate strategy and the next step in the transformational journey it began in 2015.

Also advising Air Partner on the transaction were Pinsent Mason and Grant Thornton.

Acquisition of Last Word Media

Financial Adviser to Bonhill Group plc

March 2019

The Blackdown Partners team acted as Financial Adviser to Bonhill Group plc on the acquisition of Last Word Media for up to £20 million.

Last Word Media is an international B2B media business addressing the sales and marketing needs of the global asset management industry and information requirements of the wealth management industry. The business creates content, sales and marketing opportunities, networking events and transactional opportunities for its clients and audiences with the key objective to assist asset managers with increasing assets under management. The acquisition will enable Bonhill to provide a truly global sales and marketing proposition to the international asset management community and provides the opportunity to leverage its existing presence and platform to expand its existing propositions in the US.

Also advising Bonhill were Dentons acting as Legal Counsel, BDO as Reporting Accountants, Stockdale Securities and Canaccord Genuity.

Recommended all share merger with Primary Health Properties plc

Independent Adviser to the Board of MedicX Fund Limited

March 2019

The Blackdown Partners team acted as Independent Adviser to the Board of MedicX Fund Limited on its recommended all share merger with Primary Health Properties plc, valuing MedicX at £393 million.

PHP and MedicX both invest in modern purpose-built healthcare properties in the UK and the Republic of Ireland. Combining the two businesses will give the enlarged group greater scale with which to participate in the growing market with an enhanced ability to meet the increasing needs of the primary healthcare sector in the UK and the Republic of Ireland for the provision of a range of modern, purpose built and integrated primary healthcare services to the local communities.

Also advising MedicX on the transaction were Ashurst as Legal Counsel, Evercore as Financial Adviser, and Canaccord and Liberum as Joint Brokers.

Low & Bonar plc capital raise of £54m

February 2019

The Blackdown Partners team advised Low & Bonar on its £54 million capital raise.

Also advising Low & Bonar were Peel Hunt and Canaccord.

Acquisition of the trade and assets of InvestmentNews

Financial Adviser to Bonhill Group plc

July 2018

The Blackdown Partners team acted as Financial Adviser to Vitesse Media plc (renamed Bonhill Group plc) on the acquisition of the trade and assets of InvestmentNews for $27.1 million.

InvestmentNews is one of the market leading Business Information and Data & Insight brands supporting the US financial adviser and wealth manager community, and the Acquisition is highly complementary to all three pillars of the Bonhill corporate strategy.

Also advising Bonhill were Dentons acting as Legal Counsel, BDO as Reporting Accountants, Stockdale Securities and Canaccord.

Acquisition of Livingbridge VC

Financial Adviser to Gresham House plc

May 2018

The Blackdown Partners team acted as Financial Adviser to Gresham House plc on the acquisition of the fund and investment management businesses of Livingbridge VC LLP for up to £40 million.

The fund and investment management business of Livingbridge VC has built a strong investment track record, serving a client base including private individuals, wealth managers, IFAs and institutions. It manages approximately £0.5 billion of quoted and unquoted equities via the Baronsmead venture capital trusts, (“VCTs”) and two open-ended investment companies (“OEICs”), LF Livingbridge UK Micro Cap Fund and LF Livingbridge UK Multi Cap Income Fund.

The Livingbridge VC fund management business’ investment philosophy across public and private equity companies has generated strong performance and has clear financial and strategic benefits for long-term Gresham House shareholder value. The excellent team will add to its existing high-quality investment and client personnel, enabling additional growth opportunities for the Group. The acquisition is an extension of Gresham House’s organic strategy, aligning investment goals of the two teams.

Also advising Gresham House on the transaction were Eversheds Sutherland and Deloitte, aswell as Canaccord and Jefferies.

Acquisition of 25.75% of Game Digital plc

Adviser to Sports Direct International plc

May 2018

The Blackdown Partners team advised Sports Direct International plc on its acquisition of 25.75% of Game Digital plc.

Sports Direct has taken significant strategic equity stakes in a number of retail and brand businesses across both the UK and USA, and is a leading retailer which partners with major global brands and suppliers. The acquisition of the stake opens the way to working collaboratively to explore the clear opportunities that a constructive partnership and collaboration can deliver for all stakeholders in the gaming, live events and rapidly growing esports markets in which Game Digital operates.

Acquisition of FIM Services

Financial Adviser to Gresham House plc

May 2018

Blackdown Partners acted as Financial Adviser to Gresham House plc on the acquisition of FIM Services Ltd for up to £25 million. FIM is an alternative investment fund manager specialising in UK real assets, specifically sustainable forestry and renewable energy investments.

The acquisition combines two leading firms in UK commercial forestry management and renewables, adding both AUM and in-house investment expertise to Gresham House Forestry and Gresham House New Energy. Upon completion of the acquisition, Gresham House’s AUM will be over £1.5 billion across five specialist alternative investment strategies: forestry, new energy, UK housing and infrastructure, private assets and strategic public equity.

Also advising Gresham House on the transaction were Eversheds Sutherland, Deloitte and Liberum Capital.

Investment into Stanley Gibbons plc

Advised Phoenix Asset Management

February 2018

The Blackdown Partners team advised Phoenix Asset Management on its investment into Stanley Gibbons Group plc.

Shaftesbury PLC capital raise of £265 million

Independent Adviser to the Board of Shaftesbury PLC

December 2017

The Blackdown Partners team acted as Independent Adviser to the Board of Shaftesbury PLC on its £265 million capital raise.

Also advising Shaftesbury were Hogan Lovells as Legal Advisers and JPMorgan Cazenove and Liberum as Joint Bookrunners.

Acquisition of SafeSkys

Financial Adviser to Air Partner plc

September 2017

The Blackdown Partners team acted as Financial Adviser to Air Partner plc on the acquisition of SafeSkys Limited. SafeSkys is a leading Environmental and Air Traffic Control services provider to UK & International airports.

SafeSkys’ specialist activities in sectors core to aviation safety, and the team’s passion and customer focus, make SafeSkys a great acquisition for Air Partner, adding to its capabilities in managed services, consulting & training, and extending its activities with the airport customers.

Contact

Peter Tracey

Peter Tracey

Managing Director
peter.tracey@blackdown.com +44 (0) 7549 954255 Follow on

Peter has a career of over 25 years spanning Capital Markets. Prior to founding Blackdown Partners in 2019, Peter was Head of Investment Banking for Liberum Capital, and prior to that spent the majority of his career at Merrill Lynch working in Senior Leadership positions both in Investment Banking in London and in Equities in London, Frankfurt and New York. Peter is a Non-Executive Director of Water Babies Limited and is Chairman of Branscombe Group, a private family office with interests in real estate and media sectors.

Tom Fyson

Tom Fyson

Managing Director
tom.fyson@blackdown.com +44 (0) 7931 337313 Follow on

Tom specialises in providing public and private businesses with advice in the areas of Corporate Finance, M&A, Capital Markets and Investor Relations. Prior to Blackdown Partners, Tom worked for Liberum Capital in both its Investment Banking team and its corporate advisory division, Taurus London. Tom is a Chartered Accountant having qualified with KPMG in London in 2005.

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