Authorised and regulated by the Financial
Services Authority in the United Kingdom
A member of the British
Venture Capital Association
Anvil Partners LLP is a corporate finance advisory firm
focussing primarily on the private equity market. We advise management teams
on raising finance for management buy-outs, management buy-ins and earlier
stage businesses. We always seek the opportunity to co-invest in the transactions
we advise on in order to align our interests with those of our clients.
We also provide mergers and acquisitions advise to private
companies particularly on a sale or merger of the business.
 |
Key Features |
| Specialisation |
Anvil focuses on private transactions. Since its formation in September
1994, the firm has completed 45 transactions with an aggregate value in
excess of £1 billion. |
| Experience |
Anvil's two partners, Michael Martin and Richard Youngman, have concentrated
on corporate finance work for most of their careers and have over 40 years
experience with major firms in this field. |
| Senior personnel |
All work is carried out by one or more of the partners. There is no delegation to junior staff. |
| Commitment |
We undertake only a limited number of transactions in each year. Each transaction
receives our full attention and total commitment. |
| Independence |
Anvil is wholly-owned by the partners and does not have the conflicts of interest which arise in more diverse firms keen to offer a variety of services to a wide range of current and potential clients. |
For further information select one of the following:
Site last updated 19/07/2004
|
The partners |
Michael Martin After working for Price Waterhouse in Paris and Allied
Irish Investment Bank in Dublin, Michael joined Kleinwort Benson in London
in 1981 where he spent fourteen years in corporate finance.. He was appointed
head of the mergers and acquisitions department and a director of the bank
in 1987, head of corporate finance in North America in 1991 and President
of Kleinwort Benson France in 1993. In September 1995, he joined Anvil.
His experience has been in UK and cross-border mergers and acquisitions,
private equity investing and international equity offerings
Richard Youngman After qualifying as a solicitor with Clifford Chance,
Richard worked in the corporate finance division of Kleinwort Benson from
1985 to 1990, then joined Rowan Dartington as Corporate Finance Director.
He joined Appleby Westward Group plc, distributor to SPAR convenience store
in the South West of England, as Managing Director in 1993 and negotiated
its sale to Groupe Pernod Ricard in 1997, when he joined the Board of BWG,
Pernod’s UK and Irish food distribution division. He left to join Anvil
Partners in 1998 to concentrate on investment and advisory activities in
South West England. Richard is also a director of and/or advisor to a number
of West Country companies.
|
Private equity |
Anvil works closely with companies or management teams seeking to raise
private equity for acquisitions or expansion. Much of our work is undertaken for management teams wishing to carry out management buy-ins or buy-outs. We have a policy of investing a substantial part of our fees in the acquired businesses for which we raise capital.
Our role is to assist in the preparation of the business plan, including financial projections,
structure the financing, raise acquisition finance (equity, mezzanine and senior debt) from the most appropriate
providers and on the best available terms, and oversee the implementation of the acquisition
and its financing, including due diligence.
Most transactions will involve the acquisition of a business or businesses by a financing group
comprising leading private equity funds, mezzanine funds and lending banks with which the
principals have had long-term relationships.
We are particularly interested in opportunities where we can contribute to the future
management and development of the businesses for which we raise capital, and one or more of
the partners may join the board. Anvil believes that it can contribute in a number of
ways, including the initiation of M&A transactions, the promotion or acceleration of
management or structural change, and the development and implementation of an exit strategy.
|
Advice to acquirers and vendors |
Anvil provides acquisition and divestiture services to public and private companies.
On acquisitions, Anvil will typically oversee the acquisition process
including reviewing and assessing information on the company to be acquired,
preparing valuations, structuring the consideration, advising on the most appropriate
forms and sources of finance, and negotiating the transaction through to
completion.
In the case of divestitures, Anvil's usual role is to conduct and oversee
the entire sale process, including company analysis and valuation,
preparation of an information memorandum, identification of and approaches
to potential purchasers, price and contract negotiation, and overall
co-ordination of other professional advisers.
In the past 25 years, the partners have advised on more than 40 corporate
divestments. Clients have included major multinational corporations based in
the UK, the Continent and North America, private equity, governments and private family concerns.
All work is carried out by one or more of the partners.
|
Transaction Details |
Since formation, Anvil Partners has advised on over 45 completed transactions
worth over £1bn. For further details of the transactions please select the highlighted
company name.
| Clients and transactions - 2004 |
Size |
 |
| Advised shareholders of Flagship Foods (food, UK) on sale of
the company to Tulip Limited, a subidiary of Danish Crown. |
N/D |
|
| Advised shareholders of Occam
Direct Marketing (business services, UK) on sale of the company
to its management backed by Isis Private Equity and Barclays |
£12m
|
| Clients and transactions - 2003 |
Size |
|
| Advised Flagship
Foods (food,UK) on the acquisition of Glanbia Fresh Meats
(UK) Limited from Glanbia PLC |
N/D |
|
| Advised Phynova (life sciences UK) on acquisition of intellectual property fromt he Administrator of Oxford Natural Products Limited. |
N/D |
|
|
| Clients and transactions - 2002 |
Size |
|
| Advised Pearce
Group management team on buy-out from Crest Nicholson plc.
(construction services, UK) |
£5m |
|
| Seed capital raised for life sciences start-up Phynova Limited (life sciences, UK) |
N/D |
|
| Medlogic
Global Limited (medical services, UK) sale to Advanced Medical
Solutions plc |
£2.5m |
|
| Negotiated financing package for Massive
Limited (pub operator, UK) from Bank of Scotland Iintegrated
Finance, consisting of Senior debt, Mezzanine debt and equity. |
£14m |
|
|
| Clients and transactions - 2000 |
Size |
|
| Tribal Group on the acquisition of Instant Library (education outsourcing, UK) |
£2m / £7m |
|
| Metro Networks (traffic and travel information, UK) on raising development capital from Sand Aire |
£4m |
|
| Seed capital raised for A-List Online (internet, UK) |
£0.1m |
|
| Purple Technologies on the acquisition of Oxford Softworks (software developer, UK) |
£5m |
|
| Tribal Group on the acquisition of Stands for Education (education and training, UK) |
£3m |
|
|
| Clients and transactions - 1999 |
Size |
|
| Management on the MBO of Airinmar (aerospace support services, UK) backed by 3i |
£12m |
|
| Seed capital raised for Trade & Auction Technology (internet, UK) |
£0.2m |
|
| Roach Foods (food, UK) on its merger with Dalehead Foods
to form Flagship Foods (food, UK) |
£170m |
|
| Claude Arpels family on the sale of Van Cleef & Arpels (jewellery, worldwide) to Richemont |
US$300m |
|
| HSBC Private Equity on the acquisition of Cintex Group (inspection equipment, UK/US) |
£38m |
|
| Purple Technologies (PDA software, UK) on an investment by Quester Capital Management |
£0.5m |
|
|
| Clients and transactions - 1998 |
Size |
|
| MBI team on the acquisition of Clinovia (formerly Caremark)(clinical nutrition, UK) |
£10m |
|
| Vector Industries on the sale of H+S Aviation (aero engine overhaul, UK) to BBA Group plc |
£29m |
|
| Vector Industries on the sale of H+S Aviation's PW100 & PT6T programmes to Pratt & Whitney Canada |
£9m |
|
| Cinven, BPE, NWEP & 3i on the sale of London Graphic Centre (UK) to management |
£14m |
|
|
| Clients and transactions - 1996 |
Size |
|
| Anvil Partners on an investment in Purple Technologies (PDA Software, UK) |
N/D |
|
| Cinven & Electra on the sale of AJ's Family Restaurants to Celebrated Group plc |
£3m |
|
| Investor group on the acquisition of Sorex Limited (rodenticides, UK) from Shell UK |
N/D |
|
|
| Clients and transactions - 1995 |
Size |
|
| MBI team on the acquisition of Sweater Shop (knitwear manufacturer and retailer, UK) |
£150m |
|
| Management on the sale of Crown Financial (life insurance, UK) to Life Assurance Holding |
£30m |
|
| Costain on the sale of Costain Building Products (concrete products, UK) to Tarmac |
£13m |
|
|
The KB M&A Department |
In May 1986, Michael Martin, Peter Martin and Simon Withers were asked
to reform Kleinwort Benson's mergers and acquisitions department following
a number of departures. Between 1986 and 1991 the three of them
built the department to 22 people, including Richard Youngman.
During this time, the team introduced a number of innovations:
- Sector specialisation: it was the first department in KB to specialise
along sector lines and (we believe) one of the first M&A departments in
the City to do so.
- Deal specialisation: the department focused on unlisted
transactions, especially sale mandates, at a time when the City was
devoted to developing generalists.
- International coverage: the department made a point of hiring
foreign nationals to build up its ability to do cross-border M&A work
when most UK corporate finance departments were focused largely on domestic
public company work.
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