Another win for Harry Atkins on Rivers Corner at Wincanton
Quantock Hills
Otterhead Lakes
East Hill
Clumstock Beacon
Blackdown Partners advises Boards and Executive Leadership Teams with clear, practical and independent counsel that drives successful execution of corporate strategy. We take the long view in our work and our relationships and look for solutions that benefit all stakeholders.
We develop a deep understanding of our clients and their goals through our Consulting activities, making us the natural partner for an effective and insightful approach to transactions – Corporate Finance, ECM and M&A. We want to be true partners for growth.
We take a holistic approach to Consulting and support our clients across all areas of their business, from building an effective Board and strong corporate identity, to brand development, shareholder engagement, and developing new business activities.
Our focus is always the best outcome for our clients and their stakeholders. We aren’t afraid to challenge convention, question the status quo or propose an alternative approach to get the right results. We are your trusted advisers and we will never sacrifice strategy for expediency.
Our vision for clients is driven by the big picture. We don’t restrict ourselves to a narrow focus on capital markets and we encourage our clients to look beyond them too. Taking a broad perspective brings a deep understanding of your goals that drives long-term 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 and our panoramic view.
Acquisition of 8.98% stake in
SRT Marine Systems plc
£7,000,000
Advisor to
Ocean Infinity Inc
December 2023
Blackdown Partners acted as Advisor to Ocean Infinity Inc on the acquisition of its 8.98% shareholding in SRT Marine Systems plc, the global leader in the development and supply of next generation digital maritime surveillance and navigation safety systems.
Ocean Infinity Inc is a marine technology company specialising in the development and deployment of robotics for large-scale, subsea data acquisition. Ocean Infinity and SRT share the vision that the intelligent application of technology provides a solution to the global issue of maritime domain awareness. There is a clear opportunity to combine expertise and technologies to accelerate the delivery of integrated surface and sub-sea surveillance and insight, as well as enable more automated patrols and responses. to achieve Marine Domain Awareness efficiently and effectively.
SRT Marine Systems was advised by Cavendish Capital Markets (Nominated Advisor and Bookrunner) and CMS Cameron McKenna Nabarro Olswang LLP (Legal).
Recommended final cash offer from
Seed Bidco Ltd a company
controlled by
£470,000,000
Lead Joint Financial Advisor
to Gresham House PLC
December 2023
Blackdown Partners acted as Joint Lead Financial Adviser to Gresham House PLC on its recommended final 1105 pence per share cash offer received from Seed Bidco Ltd, a company controlled by Searchlight Capital, valuing Gresham House at £470m.
Gresham House is a specialist alternative asset management group, dedicated to sustainable investments across a range of strategies, with expertise across forestry, housing, sustainable infrastructure, renewable energy and battery storage, public and private equity actively managing £8.0 billion of assets on behalf of institutions, family offices, charities and endowments, private individuals, and their advisers.
Also advising Gresham House PLC alongside Blackdown Partners were Evercore (Joint Lead Financial Adviser), Eversheds Sutherlands (International) LLP (Legal), Jefferies (Financial Adviser and Joint Broker), Canaccord (NOMAD and Joint Broker) and Houston (Financial PR).
Searchlight Capital and Bidco were advised by Dean Street Advisers and Rothschild & Co (Joint Financial Adviser), Willkie Farr & Gallagher (UK) LLP (Legal) and Prosek Partners (Financial PR).
Fundraising
£7,700,000
Joint Financial Advisor to CT Automotive Group PLC
April 2023
Blackdown Partners acted as Joint Financial Advisor to CT Automotive Group Plc on its successful £7.7 million fundraise.
CT Automotive is a supplier of kinetic interior components for the global automotive industry with operations across China, Europe and Mexico. The placing proceeds will be used to strengthen the balance sheet and provide the group with the flexibility to take advantage of various growth opportunities as global auto volumes recover with the easing of supply chain issues.
Also advising CT Automotive on the transaction were Liberum (Nominated Advisor and Bookrunner), Field Fisher (Legal Advisor) and MHP Group (PR Advisor).
Recommended all-share merger with Capital & Counties Properties PLC
£4,900,000,000
Combined portfolio value
Joint Lead Financial Adviser to
Shaftesbury PLC
March 2023
Blackdown Partners acted as Joint Lead Financial Adviser to Shaftesbury PLC on its recommended all-share merger with Capital & Counties Properties PLC.
The combined group, Shaftesbury Capital PLC will own a portfolio valued at approximately £5.0 billion generating Annualised Gross Income of approximately £165.5 million and an estimated rental value (“ERV”) of approximately £218.0 million as at 31 March 2022, and the leading UK listed West End REIT
Shaftesbury Capital PLC owns some of the most iconic parts of London’s West End such as Carnaby Street, Covent Garden, ChinaTown and Seven Dials, a portfolio of approximately 670 predominantly freehold buildings with approximately 2.9 million square feet of lettable space across approximately 2,000 commercial and residential units (excluding the Longmartin Joint Venture and Lillie Square Joint Venture).
The transaction was announced in June 2022 and received the required shareholder support at General Meetings in July 2022. CMA clearance was obtained in February 2023 and the scheme became effective in March 2023.
Also advising Shaftesbury PLC alongside Blackdown Partners were Evercore (Joint Lead Financial Adviser), Hogan Lovell International LLP (Legal), Liberum Capital and J.P. Morgan Cazenove (Joint Corporate Brokers) and RMS Partners and MHP Communications (Financial PR).
Capital & Counties Properties PLC were advised by Rothschild & Co (Lead Financial Advisers and UK Sponsor), Herbert Smith Freehills LLP (Legal), UBS (Joint Financial Advisers and Joint Corporate Broker), Jefferies (Joint Financial Advisers and Joint Corporate Broker) and Peel Hunt as (Joint Corporate Broker) and Hudson Sandler and Instinctif Partners (Financial PR).
Delisting from the
London Stock Exchange
Financial Adviser to
Morses Club PLC
February 2023
Blackdown Partners acted as Financial Adviser to Morses Club PLC, an established provider of non-standard credit services, on the cancellation of admission of its ordinary shares to trading on AIM.
The delisting, which was approved by the requisite majority of institutional and retail shareholders, is expected to result in significant cost savings for the Company, and better access to future funds through private capital as the Company progresses its scheme of arrangement.
Also advising on the transaction were Peel Hunt (Financial Adviser, Nomad and Broker), Eversheds Sutherland (Lawyers to the Company) and Camarco (Public Relations).
Recommended final cash offer from
Authentic Brands Group LLC
£211,000,000
Joint Financial Adviser to
Ted Baker PLC
October 2022
Blackdown Partners acted as Financial Adviser to Ted Baker plc on its recommended acquisition by ABG-Robin BidCo (UK) Limited, a newly incorporated entity wholly-owned by Authentic Brands Group, LLC (”ABG”), valuing Ted Baker at approximately £211 million.
As a leading global brand management company, ABG is well positioned to accelerate Ted Baker’s growth and enhance its value. ABG intends to use its global network of established operating partners with deep industry expertise, together with its business model that combines leading brand management capabilities, to enhance Ted Baker’s revenue and profitability across merchandise categories and geographic regions as it has for other acquired brands including Reebok, Brooks Brothers, Nautica, and Eddie Bauer.
Also advising Ted Baker plc on the transaction were Evercore (Joint Financial Adviser) , Freshfields Bruckhaus Deringer LLP (Legal), Liberum and Panmure Gordon (Joint Brokers) and Tulchan Communications (Financial PR). ABG and Bidco were advised by BofA Securities (Financial Advisers) and Slaughter and May (Legal).
Recommended cash offer for
Air Partner plc
£84,400,000
Strategic adviser to the board of
Wheels Up Experience Inc
April 2022
Blackdown Partners acted as strategic adviser to the senior management and the board of directors of Wheels Up Experience Inc on its recommended acquisition of Air Partner plc.
Under the terms of the acquisition, each Air Partner plc shareholder received 125 pence per share cash, a premium of 54.5% to the 81 pence per share close the day before and a 43.6% premium to the volume weighted average over the prior 90 days.
The transaction was announced on 27th January 2022 and the Air Partner plc Board recommendation received strong support from shareholders with irrevocable undertakings and non-binding letters of intent representing in aggregate 27.5% of the issued ordinary share capital of Air Partner plc. The scheme of arrangement became effective late March 2022 and closing took place in April 2022.
Also advising Wheels Up Experience Inc alongside Blackdown Partners were Jefferies (Financial Adviser) and Arnold & Porter Kaye Scholer LLP (Legal).
Air Partner plc were advised by Canaccord (Financial Adviser), Ashurst LLP (Legal) and TB Cardew (Financial PR).
Acquisition of
Daniells Harrison
£2,000,000
Financial Adviser to
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
Mobeus Equity Partners VCT
business
£36,000,000
Financial Adviser to
Gresham House PLC
September 2021
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
$11,700,000
Financial Adviser to
PT Lobos LLC
August 2021
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.
Firm Placing and
Placing and Open Offer
£307,000,000
Financial Adviser to
Shaftesbury PLC
November 2020
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
£21,500,000
Financial Adviser to
Family Office vendor
October 2020
Blackdown Partners advised a Family Office on the sale of a multi-dwelling ‘Private Rented Sector’ portfolio.
Firm Placing and
Placing and Open Offer
£75,000,000
Financial Adviser to
Ted Baker PLC
June 2020
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.
Acquisition of
TradeRisks Limited
£11,000,000
Financial Adviser to
Gresham House PLC
March 2020
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.
Acquisition of
Redline Worldwide Limited
£10,000,000
Financial Adviser to
Air Partner plc
December 2019
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 51% stake in AA Media, the marketing accreditation services and publishing division of The AA
Financial Adviser to
Enthuse Holdings Limited
April 2019
Blackdown Partners acted as Financial Adviser to Enthuse Group Limited on its majority acquisition of AA Media Limited, the publishing and leisure & hospitality accreditations business of the AA
Also advising Enthuse Group was Dentons (Legal) and the AA plc was advised by Dean Street Advisers (Financial Advisers).
Acquisition of
Last Word Media
£8,000,000
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
£2,300,000,000
Combined portfolio value
Joint Financial Adviser to
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.
Financial Adviser to
Bonhill Group plc
£54,000,000
Financial Adviser to
Low & Bonar PLC
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
InvestmentNews
$27,1000,000
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 LLP
£40,000,000
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% stake in
Game Digital plc
£8,800,000
Broker 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 Limited
£25,000,000
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.
Majority equity investment in
Stanley Gibbons plc and debt facility
£19,450,000
Financial Adviser to
Phoenix Asset Management
February 2018
The Blackdown Partners team advised Phoenix Asset Management on its investment into Stanley Gibbons Group plc.
Firm Placing and
Placing and Open Offer
£265,000,000
Financial Adviser to
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 limited
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.
Julian joined Blackdown Partners in October 2022 after fifteen years at Liberum Capital, where he was Head of Equity Capital Markets and Equity Sales. Before joining Liberum, Julian spent eleven years in a variety of equity sales roles at Cazenove in both London and New York. Julian advises UK companies on all aspects of equity market activity.
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.
Prior to founding Blackdown Partners in 2019, Peter had a career of over 25 years spanning Capital Markets. He 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 Inspired PLC, Water Babies Limited and Chairman of Hurtwood Capital Limited, his private family office which has interests in the real estate and media sectors.