Investor Consortium Acquisition

Consortium buys share of WH Ireland

Acorn has successfully arranged for a consortium of investors to acquire up to a 26.05 % share of WH Ireland Group plc, which is an AIM quoted financial services group with activities in stockbroking and investment management, corporate finance and independent financial advice. 

The consortium is led by Lord Marland, Rupert Lowe, David Ross and Andrew Scott and has acquired 9.94 % of the issued ordinary share capital of the Company.   

Additionally, an agreement has been entered into whereby the consortium can purchase, or procure purchasers for up to another 16.11 % of the company taking the potential total holding to 26.05 % of the Company.

As part of the acquisition, Lord Marland and Rupert Lowe will be joining the Board.

Acorn’s Ian Templeton commented: 

“The consortium of investors are all experienced and distinguished business achievers.  Lord Marland and Rupert Lowe should prove to be real assets to the WH Ireland Board. Their expertise and the money raised will be invaluable in progressing the Company’s aims of strengthening its position in the market place through acquisitions and strategic partnerships.”

Source: Acorn Capital Partners

Date: 1 April 2008

Additional GBP 1.94 Million Funds Raised

Acorn is pleased to announce that it has successfully completed the second phase of fund raising for Eurocape Property Finance. GBP 1.94 million was raised taking the total raised to GBP 8.19 million

Eurocape provides bridging/development finance to property projects in the UK, South Africa and EU countries.  For each project, arrangements are made to provide security for the finance advanced such as first mortgage charge over the development.  It is anticipated that investors will receive a return of 9.85% p.a. during the five years of the investment. 

Harry Dutson at Acorn commented:

“Eurocape is proving to be a very successful investment for those wanting a lower risk vehicle in their portfolio. The funds are placed as soon as possible after receipt to ensure that they start earning interest quickly and are only placed on secured terms.  Eurocape is building an excellent reputation amongst international property developers and there is, therefore, a high demand for its services.  With this in mind, we are already planning a third fund offering a similar return, which we hope will be available for investment in May 2008”.

Source: Acorn Capital Partners

Date: 31 March 2008 

Purple Spot Acquires Vista Group

Acorn has successfully made an offer of GBP 3 million for the AIM listed Vista Group plc on behalf of Purple Spot Limited.  Vista is a manufacturer of PVCu door panels (for use in the manufacture of PVCu doors) and composite doors. Purple Spot was established by a number of distinguished businessmen, including Simon Orange and Gary Black, in order to make the acquisition.  Their strategy is to acquire successful companies with established management teams and offer the companies support to enhance their growth prospects.

As part of the acquisition Vista Group will de-list from AIM on 29 April 2008.

Harry Dutson at Acorn commented:

“Vista is a well established business with turnover in excess of GBP 7 million. Simon Orange will now be trying to establish business synergies with other companies in this sector in which he has an interest.”

Source: Acorn Capital Partners

Date: March 2008

Fourth Hospitality Parent Makes Acquisition

Alternative Business Solutions Acquired by The Restaurant Game

In a transaction orchestrated by Acorn, The Restaurant Game plc, the parent company of Fourth Hospitality, has acquired Alternative Business Solutions (ABS).

Both businesses will highly complement each other as Fourth Hospitality supplies on-demand business intelligence solutions for the hospitality industry and ABS provides outsourced electronic trading solutions across the hospitality supply chain.

The transaction has almost doubled the size of Fourth Hospitality and takes it one step closer to its forecasted float in 2009, which will be key in developing the Fourth brand on a global basis.

Acorn Corporate Finance advised on and structured the transaction and arranged the financing. Ian Templeton commented: “Aligning everyone’s interest and structuring the transaction to enable the potential benefits of the acquisition to be realised were crucial in order to take Fourth to the next level of its business development.”

Source: Acorn Capital Partners

Date: January 2008

Eurocape Property Finance - GBP 6.25 Million Funds Raised

Acorn is pleased to announce that it has successfully raised GBP 6.25 million for Eurocape Property Finance.

Eurocape provides bridging/development finance to property projects in the UK, South Africa and EU countries.  For each project, arrangements are made to provide security for the finance advanced.  It is anticipated that investors will receive a return of 9.85% p.a. during the five years of the investment. 

The attractive income yield is possible through the steady interest payments from the property developers, coupled with the higher interest rates achievable on financing international property development.

Harry Dutson at Acorn commented:

“Eurocape is an ideal investment for those people seeking a high return but with less risk because of the security arrangements put in place.  Eurocape has already loaned a substantial amount of the funds raised and the remainder will be placed shortly.  We are already planning the next phase, which will be another fund offering a similar return, which we hope will be available for investment in April 2007”.

Source: Acorn Capital Partners

Date: 31 December 2006