Thames Valley Deals Awards salutes best of the best

Dealmakers from across the region gathered at Reading's Select Car Leasing Stadium to celebrate a challenging but successful year of activity.

Winners were announced in 16 award categories. A special award for Lifetime Achievement was introduced this year and won by Andrew Thomson, founding partner of HMT, for his tireless 30-year contribution to the Thames Valley’s dealmaking community.

For the Small, Mid-range and Large deals of the year, the judges’ decisions accounted for 70% of the vote, while the audience made up the remaining 30% of the vote.

Richard Thompson, Managing Director of The Business Magazine, thanked the independent judges. “They diligently review each and every nomination,” he said.

Kate Richardson, Client Advisor at the TVDA’s headline sponsors UBS Wealth Management, said: “It has been really rewarding to work with some of you and your clients here tonight to help protect and enhance the funds that you have worked so hard to help them generate from the sales of their businesses. It is fantastic to be involved with such a vibrant, collaborative and welcoming community. UBS is one of the largest wealth managers in the world and has 160 years of wealth management experience that I am passionate about bringing to the Thames Valley.”

The award category sponsors were HMT, Gateley Legal, Crowe UK, Shawbrook Bank, ThinCats, LDC, NatWest, BDB Pitmans, IBB Law, Eton Bridge Partners, Shoosmiths and Blake Morgan.

Back by popular demand, TV presenter Mark Durden-Smith hosted the awards, regaling the audience with his seemingly inexhaustible knowledge of so many dealmakers' foibles and hitherto unknown talents.

Over £6,000 was raised by the audience during the evening for the charity Brain Tumour Research. Brain tumours kill more children and adults under 40 than any other cancer, but only about 1% of the national spend on cancer research is currently allocated to tackling the disease.

To support those affected by the war in Ukraine, a one-off painting by the celebrated British artist Paul Robinson was auctioned for charity. A silent auction held before the awards had reached £5,000. On the night, a live auction took the total for the painting to an impressive £10,000, with a bid from the team at Energy Efficient Solutions Group (formerly known as Energy Saving Lighting).

And the winners are…

Private Equity Firm of the Year

Winner: LDC

“We are very appreciative of this award and of the advisers who have supported us. The deals landscape is always changing and we are lucky to have strong support from Lloyds Bank to build a strong presence in the Thames Valley’s mid-market sector. We were involved in a number of fantastic investments during the year, including Aker Systems, Red Helix and BOXPARK. As we head into a recession and cost-of-living crisis, it’s all about backing the right businesses and management teams through challenging times with strong relationships based on trust and support.” Klara Klarowicz, Investment Manager, and Chris Morris, Investment Director, LDC

Finalists:

• BGF
• NVM Private Equity
• WestBridge
• YFM Private Equity

Corporate Deal of the Year

Winner: MBO of Smart Capital Technology

“There were a lot of people involved in advising on the MBO and it was useful to bounce ideas off them. It gave us different views of the transaction, which was helpful. The deal enables us to expand and having WestBridge as our private equity backer means we can benefit from their experience in different industries and talk to them about new opportunities in the future.” Andy Morgan, CEO of Smart Capital Technology

Finalists:

• Acquisition of CXP by Huntswood
• MBO of Smart Capital Technology
• Sale of PrisymID

Due Diligence Team of the Year

Winner: Wilson Partners Corporate Finance

“We worked on 30 deals during the year that included many larger deals, which I think is a testament to the great work of our team. We have always focused on hiring the right people at the right time as we grow, including into South Africa, where a small team supports our UK clients. I think our hands-on approach is important in the low- to mid-market sector, where it is all about people. Clients want to know they are getting the service from partners and directors – we have always been about rolling up our sleeves and getting stuck in. It’s the best part of the job.” Dan James, Transaction Services Director, Wilson Partners

Finalists:

• Crowe UK
• HMT
• James Cowper Kreston Transaction Services
• RSM

Purpose Led Business Deal of the Year

Winner: MBO of Pareto FM

“We have always had an ESG agenda but it wasn’t that prominent before the MBO, which has brought it to the forefront. Our approach is what makes Pareto special in the FM market. We have invested a lot in ESG areas and it is helping us to build a competitive advantage. We are leading the sector in being a social-led provider with initiatives around social value, sustainability and charity. This resonates with people from a sales perspective and helps us to create deeper relationships with customers.” Andrew Holmes, CFO, Pareto FM

Finalists:

• Energy Saving Lighting Investment
• MBO of Southgate Global
• Sale of Childs Farm

Corporate Finance Team of the Year

Winner: FRP Corporate Finance

“There is a lot of uncertainty at the moment that you need to navigate through. All deals are complicated and anyone who gets them over the line has done a sterling job in overcoming the challenges we face. We have enjoyed a really good run and are pleased with our progress. For many sell mandates, we have found that the timing wasn’t always right for buyers who would have been a great fit. With a smaller number of interested parties, we’ve worked hard to find the best results for clients. Attention to detail and looking forward to what is going to happen after a deal has never been more important.” Darren Miller, Partner, FRP Corporate Finance

Finalists:

• BDO
• Grant Thornton
• HMT
• James Cowper Kreston

Law Firm of the Year

Winner: IBB Law

“We have been growing the Reading office since we opened it three years ago and now have some real momentum. We recently announced a merger with another local firm, which is really exciting for us and is a verification of all our hard work over the last few years. I couldn’t be prouder of what our team has achieved. We’re growing faster than expected – I had hoped that we might win this award within five years of opening the Reading office and we have done it in three.” Adam Dowdney, Partner, IBB Law

Finalists:

• BDB Pitmans
• Blake Morgan
• Freeths
• Gateley Legal
• HCR Law
• Osborne Clarke
• Penningtons Manches Cooper
• Shoosmiths

Corporate Finance Adviser of the Year

Winner: Andrew Thomson, HMT

“This year, we saw a lot more work on the sale side rather than the buy side of deals. Since the Covid-19 pandemic, the sector mix has changed a lot, with deals involving more business-to-business and technology-enabled businesses. We identified a number of sectors that we thought were ripe for transactions and have seen quite a lot of deals involving private equity. In negotiations, it’s always important to have empathy for the other side. After all, there’s no point in trying to negotiate for things they can’t give.” Andrew Thomson, Founding Partner, HMT

Finalists:

• Ian Barton, Quantuma
• Simon Davies, FRP Corporate Finance
• Sami Fairris, KPMG
• Wendy Hart, HMT
• Bilal Hasan, FRP Corporate Finance

Lawyer of the Year

Winner: Adam Dowdney, IBB Law

“I can’t do what I do as an individual, it’s the team behind me that completes the transactions and does all the hard work – the nitty gritty. Without that team, deals don’t get done. At IBB, it’s about having the right team and the right structure. We all work very hard and are supportive of each other in difficult times. We work on a broad range of deals, from £2 million to £100 million, which is a factor that I think makes us unique in what we can offer the Thames Valley deals community.” Adam Dowdney, Partner, IBB Law

Finalists:

• Leon Arnold, Freeths
• Greg Leyshon, Osborne Clarke
• Sanjeev Sharma, Shoosmiths
• Nina Smith, Shoosmiths
• Rachel Turner, HCR Law
• Sara Valentine, Osborne Clark
• James Went, Pennington Manches Cooper

Dealmaker of the Year

Winner: Wendy Hart, HMT

“I joined HMT during the year and think I was lucky about the timing as a number of deals landed soon after I arrived. Two standout deals for me were the MBO of Smart Capital Technology and YFM’s investment in Vuealta – both are really interesting technology businesses with great management teams. I’m also passionate about supporting women in the profession, trying to persuade them that this can be a manageable career alongside your family life.” Wendy Hart, Corporate Finance Partner, HMT

Finalists:

• Simon Davies, FRP Corporate Finance
• Lawrence Dean, LDC
• Sami Fairris, KPMG
• Duncan Lamb, BDO
• David Wrench, YFM Private Equity

Lender of the Year

Winner: HSBC UK

“The last year has been an active one for us, with a post-Covid bounce resulting in an elevated number of transactions that were driven, in part, by private equity as well as corporate activity. We are lucky to have a strong client base and a well-connected deals community to support them. I would say there is confidence across the corporate landscape that has resulted in opportunities for finance. Our Covid-19 financial support for businesses has also been absolutely critical. We have a team of over 100 people in Reading serving the full spectrum of companies through their lifecycles – a bank’s raison d’etre has to be supporting the local community as well as the general economy.” Michael Miller, Head of Leverage Corporate for the South Region, HSBC

Finalists:

• Lloyds Banking Group
• NatWest
• Shawbrook Bank
• Tower Leasing
• Triple Point Private Credit

Young Dealmaker of the Year

Winner: Ed Minton, WestBridge

“The Thames Valley is a really key region for us. One of our most significant deals was the MBO of Smart Capital Technology. For this, we had a great team of high-quality advisers around us. WestBridge is a relatively small investment house and I enjoy having a broad range of responsibilities, from originating deals through to leading on deal execution, working with company management teams to create value in our investments.” Ed Minton, Investment Manager, WestBridge

Finalists:

• James Buckingham, BDO
• Adam Hart, YFM
• Klara Klarowicz, LDC
• James Macleay, WestBridge
• Liam Pursall, BGF
• Will Rose, Grant Thornton

Small Deal of the Year

Winner: MBO of OMM

“The management team wanted the deal completed as quickly as possible and it was done in eight weeks. All the advisers on the deal worked together as a team to drive it over the line. HMT managed the process with ThinCats, negotiating the deal with the vendors and helping take the company through the MBO process. It was my first deal at HMT, so it was particularly memorable for me.” Joe Cassidy, Corporate Finance Manager, HMT

Finalists:

• Disposal of Compliancy Services
• Intec Employee Ownership Trust (EOT)
• Investment in Operational Solutions
• MBO of OMM
• MBO of RGE

Mid-range Deal of the Year

Winner: MBO of Smart Capital Technology

“It was very beneficial for us to have a strong team of advisers supporting us. From our point of view, we tested them quite a bit by asking questions and challenging them, which I think they enjoyed. They allowed us to learn how other companies would have done this type of deal. The MBO was new territory for us and I was both a buyer and seller as I retained an interest in the company. Our backers, WestBridge, have given us a springboard to try different things, enter new territories, add new product ranges and invest in our digital platform.” Andy Morgan, CEO, Smart Capital Technology

Finalists:

• bChannels exit
• Energy Saving Lighting Investment
• Investment in Techex
• Investment in The Marketing Practice
• Investment into e2e-assure
• MBO of Smart Capital Technology
• YFM invests in Vuealta

Large Deal of the Year

Winner: Exit of Aker Systems

“We knew Aker Systems for about nine months before we invested in their MBO and held the investment for 14 months before our exit. The company is all about the quality of its management team – they are fiercely focused so it was easy for us to back their strategy and they have absolutely delivered. The company has now been sold to one of the best tech-company investors in the US. To be recognised by such a high-quality investor is great for them.” Chris Baker, Investment Director, LDC

Finalists:

• Exit of Aker Systems
• Investment into nDreams
• MBO of Southgate Global
• Sale of the Vaccine Manufacturing Innovation Centre
• Sale of Uni-Pol to Doncasters

Management Team of the Year

Winner: Huntswood CTC

“We’ve done better than we expected since the acquisition of call centre operator Customer Experience People, with post-deal revenue growth of 43%. That’s down to the team, our strategy and the effort they have put in to deliver, which has put us on a great footing going forward. We have expanded and are now global, with operations in South Africa and two additional sites in the UK. We have invested in technology, automation and robotics to deliver greater efficiency. We are a people-based business, so maintaining our culture while we expand has also been crucial for us.” Matthew Bonfield, Chairman, Huntswood CTC

Finalists:

• Energy Saving Lighting
• Pareto FM
• Smart Capital Technology
• The Marketing Practice
• Whistl

Lifetime Achievement Award

Winner: Andrew Thomson, HMT

“A lot of my work is with small- and mid-market companies, many with owner-managers, and what I love about it is our work is life-changing for them. In the Thames Valley, you compete and work with the same people all the time on deals and to be able to do our work well it has to be a vibrant community. If you asked me 30 years ago what I’d be doing now I’d have probably said I thought I’d be retired! For me, the firm has been about creating something to pass on. The next part of my journey is to leave a legacy for the next guys to take over.” Andrew Thomson, Founding Partner, HMT