June 19 2013 Latest news:
By annabelle dickson Business writer
Thursday, June 21, 2012
A partner at Norwich-based law firm Howes Percival which has been involved in three major regional acquisition deals this year said it was not all doom and gloom and there were reasons to be cautiously optimistic about the level of corporate activity locally.
The corporate team were involved in acquisition deals including Burnham Market-based Hoste Arms Limited, Norwich based LJ Create Ltd and a management buy-out at the Great Yarmouth office supply and printing company, Paperclip.
Howes Percival partner Robert Colman said: “We have seen an increase in corporate deal activity this year. It is certainly not all doom and gloom. There are cautious, positive movements within the region and in terms of investment coming into the area.
“The deal market is still quite fragile and there is a lot of uncertainty around which can prolong or derail deals, but we are certainly getting more enquiries and we are optimistic for the remainder of 2012.”
Howes Percival advised BNB Leisure Limited on the acquisition of the entire issued share capital of Hoste Arms Limited, the company which owns The Hoste Arms hotel and other leisure and tourism businesses in Burnham Market.
Howes Percival’s corporate team also advised the UK subsidiary of teaching and learning resources Infinitas Learning Group on the purchase of Norwich-based digital education firm The LJ Create Group, which specialises in science, technology, engineering and maths.
Norwich-based LJ Group supplies training software and equipment to educational institutions worldwide.
The corporate team also acted on the purchase of office supplies and printing company Paperclip (East Anglia) Limited based in Great Yarmouth by its general manager, Neil Brown, and his wife Kim.
Mr Colman said that financing corporate deals did remain one of the big challenges at the moment, but the company had access to funding sources, including banks and they had other contacts with money available to invest.
Howes Percival’s finance team is on the panels of the major banks but is also working to link up potential private investors with companies looking for funding.
He added: “Our role isn’t simply to take care of the legal stuff, we are key to introducing funding and helping to deliver the deal from start to finish.”