Momentum Corporate Finance

WEST’S TOP MBO ADVISERS COMPLETE FOUR DEALS WORTH £60 MILLION IN RECORD FIRST QUARTER

Momentum Corporate Finance bucks the “credit crunch” trend

Bristol based Momentum Corporate Finance, the West‘s top independent advisers on Management Buyouts (MBOs) and company sales, has delivered four major transactions worth a total of £60 million in the first quarter of 2008.

Latest of Momentum‘s first quarter deals is the sale of specialist building products manufacturer, Ockwells, to SIG PLC, the stock market listed international supplier of insulation, roofing, commercial interiors, and safety products.

Ockwells, which has sites in Newbury, Warrington, and Glasgow, provides construction site protection materials for most of the UK‘s best-known house builders and construction companies.

Momentum partners, Tony Kenny and Rob Crews, acted as lead advisers to Ockwells‘ shareholders in running a tightly controlled auction of the business, involving both trade and private equity bidders.

Other first quarter transactions have included the acquisition of the mechanical and electrical division of OCS Engineering Services for Integral, a former Momentum MBO client, and two major refinancing deals.

According to founding partner, Tony Kenny: “At a time when the global ‘credit crunch‘ has caused many pundits to warn of reduced M&A activity, our first quarter deals in 2008 were £5 million ahead of the same period last year (£55 million).

“It is equally encouraging that six of our most successful transactions have been in the construction and property services sectors, both of which have suffered a ‘bad press‘ in recent months”, said Mr Kenny.

Since its launch three years ago Momentum has completed transactions worth more than £300 million, and secured the titles of “Deal of the Year” and “Dealmaker of the Year” at the most recent South West Deals Awards.

ENDS 1st May 2008

For further information please contact David Sturgess, Sturgess Van Damme, on 01275 349011 or email david@sturgessvandamme.co.uk