The acquirer Dr Tahsin Yasin is a highly experienced multi-national corporate CEO. Following his return to the private sector he identified Howard Yarnold as an excellent acquisition target after an extensive national search. Northfields Kelvinside is the parent holding company which seeks to acquire majority stakes in UK SMEs in the healthcare and manufacturing sectors. The aim is to create added value for businesses seeking new strategic growth pathways for the next phase of their evolution.
Dr Tahsin Yasin commented, "The acquisition secures employment continuity for all existing employees and anticipates further expansion to meet the ambitious growth targets in a robust market. I'm looking forward to delivering our new strategic plan assuring the future success of the company. I would like to recognise the excellent support of the experienced buy-side advisory team. All were instrumental in completing this deal."
The senior debt was expertly arranged by the team led by Stuart Watson at SME Capital. Scott Jones of Chelsea Corporate advised, Shaun White of NRG Law led the legal team, Martyn Smith at TC Group and Neil Sharp of TML led the corporate finance.
Working closely with all involved, SME Capital were able to provide a bespoke 5 year funding structure, including a 6 month Capital Repayment Holiday and a 25% lump sum bullet, to allow time for Tahsin to digest the acquisition and ease cashflow in the early months.
SME Capital Regional Director, Stuart Watson said, "This is a well-respected business with an excellent reputation for quality products and service, where Tahsin will be able to develop the business further alongside the existing management team."
Debt Advisor Neil Sharp of TML Finance and Advisory, who assisted the bespoke lending package, added, “It was great to see all the moving parts align both from the start to the final agreement, We have an extensive background in working on these types of deals for clients and it’s always good to put that experience to good use for a positive outcome.”
“Northfields Kelvinside recognises the excellent support of SME Capital and the experienced buy-side advisory team, instrumental in completing this deal.”
– Dr Tahsin Yasin, CEO, Northfields Kelvinside
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