Gambit Corporate Finance oversees quartet of deals worth £60 million

27 July 2022 Consultancy.uk 4 min. read

Gambit Corporate Finance has advised on four multi-million-pound transactions across the UK. The firm secured funding for The Rider Firm; a commercial mortgage for Creo Medical Group; the sale of a communications compliance business to Kerv; and the sale of Cwmtillery Glass Centre – for a cumulative deal value in excess of £60 million.

The Rider Firm is a West-Sussex headquartered cycling e-retailer, which designs, engineers and digitally retails premium bicycle components including carbon and alloy wheels, bikes and cycling accessories. It also sells Privateer mountain-bikes and Cairn eBikes. Established in 2013, the business has been looking to expand into the US market with a Colorado subsidiary – for which it has secured a seven-figure funding package from Santander.

The funding package includes a revolving credit facility and Growth Capital loan and provides The Rider Firm with flexibility to grow the business. Foot Anstey provided legal advice to Santander UK, while Gambit Corporate Finance advised The Rider Firm on the deal.

Gambit Corporate Finance oversees quartet of deals worth £60 million

Jason Evans, Partner, Gambit Corporate Finance, said, “The Rider Firm is an exciting and dynamic business driven by a passion for cycling and its products are widely recognised and very well-respected. Gambit Corporate Finance is pleased to provide advisory support on this funding with Santander UK and looks forward to seeing the continued success and growth of the business over the years to come.”

Creo Medical Group is a medical device company focused on the development and commercialisation of minimally invasive electrosurgical devices. Founded in 2003 by Professor Chris Hancock, it initially targeted the treatment of cancers through use of high frequency microwave energy and dynamic matching techniques, but now provides an expanding range of innovative medical devices designed for endoscopy surgeries.

The firm is currently looking to expand its current operating facilities, following the multi-million-pound acquisition of Creo House and its adjacent site in July 2021. The additional space will accommodate a rising number of employees, increased commercial activity and manufacturing capacity. In order to realise these ambitions, Creo has obtained a commercial mortgage from Barclays Bank. Gambit worked as lead financial adviser to Creo in the deal, with a team led by Jason Evans, Sam Forman, Nick Gallagher and Harrie Thorrington.

Gambit Head of Debt Advisory, Jason Evans, added, "We are delighted to have advised the Creo team on the funding package. The business is expecting significant growth in the coming years and we are excited to witness Creo’s continued innovation and development of alternative clinical technologies."

TDS Global Holdings’ Communications Compliance Practice engaged Gambit for a very different role, meanwhile. The team was looking for a buyer to support a management buyout. To that end, Gambit advised on a deal with Kerv. The Gambit team was led by Geraint Rowe, Sam Forman, Nick Gallagher and Lloyd Evans.

As an LDC portfolio company, Kerv can offer the Communication Compliance Practice access to global markets. Meanwhile, Kerv’s turnover will grow past £60 million with the addition of the team’s expertise in legacy data management. The rebranded Kerv Communications Compliance Practice provides mission-critical communications compliance services to major global financial services organisations.

Sam Forman, Director at Gambit commented, “The Communications Compliance Practice will significantly enhance Kerv’s capabilities in FCA regulated compliance services and ensure and assure compliance across all channels, including mobile, Microsoft Teams, Zoom and Symphony together with social media and messaging platforms. This successful outcome is a testament to Gambit’s deep Software & IT Services sector knowledge and experience in delivering M&A advisory services.”

Cwmtillery Glass Centre finally is one of the UK’s largest independent manufacturers of insulated glass units and toughened glass. Founded in 1996 with just a single cutting table, and has since evolved into a company with revenues of more than £15 million per year, employing some 120 staff.

The firm’s acquisition, by an undisclosed acquirer, provides an equity exit for the Ebbw Vale-based firm’s owners and husband and wife team Paul and Cerianne Hayward, who have developed long-standing relationships with blue-chip suppliers including Pilkington and Guardian. Gambit Corporate Finance acted as lead advisor to the shareholders of CGC on initiating, negotiating and structuring the transaction. The Gambit team comprised of Frank Holmes, Simon Marsden and Nick Gallagher.

Marsden noted, “Over the last 25 years, Paul, Cerianne and the CGC team have built an exemplary business which has consistently delivered exceptional quality for its customers. It was a privilege to advise on this milestone in the company’s trajectory. The transaction highlights the extensive appetite from acquirers seeking entrepreneurial, resilient UK businesses.”

The deals conclude as Gambit celebrates a major milestone of its own in July 2022. The firm’s 30th anniversary marks it out as the oldest independent corporate finance boutique in the UK, transacting on deals with a cumulative value in excess of £3 billion since inception.