ICAS Who's Who in Corporate Finance 2015

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WHO’S WHO IN CORPORATE FINANCE 2015

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Pfizer is considering making another takeover offer to AstraZeneca’s shareholders

FROM PHARMACEUTICALS TO OIL AND GAS, ROBERT OUTRAM LOOKS AT DEALS IN THE PIPELINE AND PROSPECTS FOR THE FUTURE

THE STATE OF THE MARKET SOME OF the most talked-about deals this year are those that aren’t happening – or haven’t happened yet. The £70bn bid by US pharmaceutical giant Pfizer for the UK’s AstraZeneca was rebuffed, but dominated business headlines at the time. It may do so again, since as this publication goes to press, Pfizer was looking at a second opportunity to make an offer to its target’s shareholders.

Construction group Balfour Beatty was similarly unimpressed by merger proposals from its competitor, Carillion even though the deal would have given Balfour Beatty shareholders a stake of nearly 60 per cent in the merged business.

Despite some high profile rejections – and despite “red lights” flashing for the global economy again – the prospect for M&A activity across Europe is looking good. That is the

picture painted by the latest European M&A Outlook from consultants Mergermarket.

The study, based on responses from 225 senior European executives, found that 76 per cent expect that dealmaking will “increase” or “increase greatly”, representing a 28 percentage point increase on last year’s survey.

Germany was predicted to be the most active in terms of merger activity, but the UK features in the top five. In terms of arena, the technology, media and telecommunications sector was the most active, seeing deal volume jump 10 per cent in the first half of this year compared with the same period last year.

Industrials, chemicals and energy, and mining and utilities were seen as the next most active sectors.

DECEMBER 2014 CA MAGAZINE

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In the UK, private equity deal volume is also showing signs of bouncing back after a long slow recovery from the financial crisis, according to research by BDO. The PCPI/ PEPI Index, compiled by BDO Corporate Finance, tracks the relationship between enterprise value and the EBITDA (earnings before interest, tax, depreciation and amortisation) multiple paid by trade and private equity buyers when acquiring a UK private company.

The figures for Q3 2014 show both deal volumes and multiples continuing to rise. Trade deals were up by 36 per cent (on the previous quarter) to 404, while trade multiples were up from 8.8x to 10.0x.

Neil McGill CA, director of corporate finance with BDO, says: “Whilst we are seeing capital markets take a pause for breath, the appetite for deals in the private company arena is undiminished. There is a lot of cash chasing good quality deals and private equity funds continue to take advantage of the excellent conditions during 2014. As expected, last quarter’s low trade deal volumes have proved to be an anomaly and they have risen back to normal historical levels. We continue to see good businesses receiving frequent enquiries from potential buyers.”

He adds: “What we are not seeing, somewhat surprisingly, are prices being lowered to get deals done ahead of the impending general election. There seems to be a working assumption in the market that the capital gains tax rate won’t change in the next Parliament and, therefore, pricing remains resilient. We expect this to continue up to the election, based on the cash in the market and investor appetite.”

The UK and Europe generally have also seen a surge in stock market listings, with initial public offerings raising more than $60nn so far this year, more than double the amount for the same period in 2013.

The flotation in November of “challenger bank” Virgin Money, which valued the business at £1.25bn, may however be the last of the year’s big floats on the London Stock Exchange.

The optimism of early 2014 among investors has waned somewhat in the face of less positive economic news, and floats like that of Aldermore, another independent bank, have been postponed for now.

Meanwhile, the established banks remain a key part of the corporate finance scene. So are they, as they claim, “back in business”?

Yes, says BDO’s McGill: “There is more money looking for deals than the other way round right now. Whether this is bank funding from traditional sources, alternative lenders or private equity, there is real liquidity in the market. This

“The last 12 to 18 months have proven to be frenetic as deals continued to be completed up to the independence referendum” David Leslie CA, PwC

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M&A: WHY BUYERS ARE BUYING

57% 56% Consolidation

Increased appetite on part of foreign acquirers

55% Cash-rich corporate acquirers

M&A: WHY SELLERS ARE SELLING

67% Capital raising for expansion in faster growing areas

59% 56% Distress-driven M&A

Non-core asset sales by larger companies Source: European M&A Outlook, Mergermarket

started at the top of the market with large corporates, but has trickled down through the mid-market to SMEs. With many different flavours of funding available, the key is to cut your cloth accordingly.”

Nicol Fraser CA, a partner with Dunedin LLP, agrees. He says: “Yes, there has been a real change. There is increased confidence and the high street banks are now much more active.

We’re also seeing increasing liquidity in the marketplace as a result of the ‘unitranche’ credit providers, which are now lending to smaller businesses than they were previously.”

Unitranche providers are typically US-based debt funds, set up after the financial crisis to fill a gap left as the banks pulled in their horns. Players such as Ares Management, Babson Capital Management, Highbridge and Hayfin are increasingly active in the UK, and they are also increasingly lending to comparatively smaller businesses with £3m-5m profit and upwards.

Andrew Kerr, corporate finance director with EY, says that not only are banks demonstrating a greater appetite to lend than they have for some years, but also businesses now have had time to re-establish their trading records and build forward order books, making them more compelling prospects for lenders.

Kerr adds: “The level of available and committed debt facilities that remain undrawn is indicative of a disconnect between supply and demand dynamics – as a means of funding growth, many corporates have resisted increasing gearing levels in the historic period, and this point is perhaps masked in the discussion around support from the traditional lenders.

“Additionally, asset-backed facilities have increased in prominence on mainstream corporate finance deals in recent

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Photo: Jacob Carter/REX

CALL FOR TAX BREAKS ON EQUITY The body representing smaller quoted companies has called for tax reforms to create a more level playing field for corporate fundraising.

The Quoted Companies Alliance (QCA) is calling on chancellor George Osborne to make the costs of raising equity taxdeductible, encouraging more companies to raise money through the equity markets.

Tim Ward, chief executive of the QCA (pictured right), comments: “The tax treatment of fundraisings has been one of the features of equity markets that has prolonged the effects of the 2008 financial crisis. As we start to emerge from this historic upheaval, we urge the Government to settle this anomaly once and for all to the benefit of wealth-creating businesses and their stakeholders across the UK.

up and it will be interesting to see to what extent this affects the level of deal flow in the New Year.”

Among the standout deals, Leslie cites the acquisition of the Ferguson shipyard by Clyde Blowers, saving the yard from potential closure and protecting local jobs; deals involving Whyte & Mackay and Loch Lomond Distillery, indicating continued interest in export prospects for the Scotch whisky industry; and the acquisition of financial services group Martin Currie by Legg Mason.

BDO’s McGill says: “Unsurprisingly, tech activity is strong with subsectors such as datacentres and hosting active, with a number of mid-market private equity platform businesses now looking to exit. In software, those servicing robust verticals such as oil and gas, financial services and pharma are also in demand.”

Regarding energy, McGill says: “Oil and gas services, although cyclical, is always a driver of the Scottish deals market. The declining oil price may have an impact on deal activity and pricing but this will depend on which part of the supply chain and geography the individual company serves. Businesses wholly focused on the UK continental shelf could find life tougher, but those serving global markets, as many Scottish companies do, should be insulated.”

The oil price is also a concern for Mike Beveridge CA, managing director of energy specialist Simmons & Company

Virgin Money was floated on the London Stock Exchange in November

years, which in turn provides a subtly different perspective on banks’ risk models and, therefore, a more flexible approach to lending.”

Ian Steele CA, senior partner for Scotland and Northern Ireland, Deloitte, comments: “As with the private equity market, there is a lot of capacity and appetite to lend [in banking].”

Deloitte’s Alternative Lender Deal Tracker also shows continued momentum in alternative lending products. The number of alternative debt deals is up 6 per cent in 2014 compared to 2013, with the UK being the biggest market in Europe for the use of alternative debt products. In the UK, alternative sources accounted for 47 per cent of total transactions, followed by 25 per cent in France and 12 per cent in Germany.

While the Scottish market has not seen the same level of interest in IPOs as elsewhere in the UK, it has been active for deals, especially – but not exclusively – in the oil and gas sector.

David Leslie CA, deals leader, Scotland with PwC, says: “The last 12 to 18 months have proven to be frenetic as deals continued to be completed up to the independence referendum. Whilst completion rates continued, we noted a slowdown in the number of new deals processes from April onwards, though some interesting opportunities have still arisen during this period.

“The pipeline in Scotland remains reasonably healthy, though macro-economic pressures relating to equity markets, interest rates, commodity prices and the outcome of the fiscal review will play an important part in determining the eventual outturn in 2015. Additionally, the May 2015 general election is creeping

“The inconsistency is all the more unsustainable because recent case law confirms VAT on the costs of raising equity funding are deductible if a company’s activities are taxable.”

The QCA says that the measure would cost the Exchequer around £60m in 12 months, and would reduce the competitive disadvantage that UK companies face in comparison with the large number of European countries that do allow tax relief on the costs of raising equity finance.

“Whilst we are seeing capital markets take a pause for breath, the appetite for deals in the private company arena is undiminished” Neil McGill, BDO

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International. He comments: “It’s not fundamental, but we are seeing a correction in the market. Projects in the industry have been slowing this year – in the North Sea and around the world – and there are concerns about escalating costs. Now the oil price has slipped to around $80, which brings a degree of fear and risk that was not there before.”

Having said that, problems for the industry will not necessarily mean a slowdown in deals, Beveridge says, adding: “Uncertainty creates a hiatus, but a downturn could lead to more M&A activity. We’re still bullish about prospects even though the oil price is impossible to ignore.”

Dunedin’s Nicol Fraser warns that slowing economic activity across the board in Europe might also have an impact: “Businesses are finding growth harder to come by, partly because of low growth in Europe. They are struggling to find the growth they might have expected at this stage.

“That said, I am optimistic about 2015. I had expected a long and slow recovery from recession, but liquidity in the market has recovered slightly faster than one might have expected.”

Jason Morris CA, head of transaction services with PwC in Scotland, comments: “We expect there will be a steady continuation of deal activity into 2015, with a possibility of some downside risk. In the past year a favourable momentum in the deals market had been built up. However, recent turbulence in the financial markets and the fall in oil price reminds us that deal activity is susceptible to such external factors. The upcoming fiscal review and general election will also be watched closely by the

WHO’S WHO IN CORPORATE FINANCE INDEX ACCOUNTANTS Anderson, Anderson & Brown 7 Baker Tilly 7 BDO 8 Campbell Dallas 9 Chiene + Tait 9 CLB Coopers 10 Consilium Chartered Accountants 10 Deloitte 10 EY 11 French Duncan 11 Geoghegans 12 Gerber, Landa & Gee 12 Grant Thornton 12 Hall Morrice 13 Hardie Caldwell 13 Henderson Loggie 13 HW Corporate Finance 14 Johnston Carmichael 14 KPMG 15

CA MAGAZINE DECEMBER 2014

business community… we feel confident about the outlook but will maintain a close eye on trends in macro factors over the coming few months.”

Deloitte’s Ian Steele concludes: “Our view is positive – we’re recruiting into corporate finance, so the proof is in the pudding.

As always there are a few (some potentially big) bumps in the road – general election, European referendum, oil price, Ukraine, new Eurozone crisis, to name but a few. But if you worry too much about such matters, you’d never get out of bed.

“Right now, confidence is strong, overseas markets are attractive and cross-border deals are getting done, money is available and good companies are ambitious to grow inorganically. It’s good news for the advisory community.”

“Right now, confidence is strong, overseas markets are attractive and cross-border deals are getting done, money is available and good companies are ambitious to grow inorganically. It’s good news for the advisory community” Ian Steele CA, Deloitte

Mazars 16 McLay McAlister & McGibbon 16 Milne Craig 16 Morrison Watson 17 PwC 17 Saffery Champness 18 Scott-Moncrieff 18 Thomson Cooper 19 Wilson Partners 19 Wylie & Bisset 19 LEGAL Anderson Strathern 20 Bellwether Green 20 Brodies 20 Burness Paull 21 Cloch Solicitors 22 CMS 22 Davidson Chalmers 23 DLA Piper Scotland 24 DWF 24 Harper Macleod 26 HBJ Gateley 27 Ledingham Chalmers 27 Lindsays 28 Macdonald Henderson 28

Maclay Murray & Spens 29 MacRoberts 30 McClure Naismith 31 Morton Fraser 31 Pinsent Masons 31 Shepherd and Wedderburn 32 Stronachs 34 Thorntons Law 34 Wright, Johnston & Mackenzie 35 Young & Partners 35 BANKS Barclays Corporate 36 Bank of Scotland 37 Clydesdale Bank 38 HSBC Bank 40 Investec Bank 40 The Royal Bank of Scotland 41 Santander 41 OTHERS Adam Smith 42 Archangels 42 Blas 42 Braveheart 42

Caird Capital 42 Christie Griffith Corporate 43 CMGR 43 Craig Corporate 43 CR Corporate Solutions 44 DC Consulting 44 Dunedin 44 HMT 45 JC Rathbone Associates 45 JP Morgan Cazenove 46 LDC 46 LINC Scotland 46 London and Scottish Investment Partners 46 Maven Capital Partners 47 Metis Partners 47 Nevis Capital 47 Panoramic Growth Equity 48 Pentech Ventures 48 QMPF 48 Quest Corporate 49 SEP 49 Simmons & Company 50 Tindercapital Bangladesh 50

ANDERSON ANDERSON & BROWN LLP

9 Queens Road, Aberdeen AB15 4YL Telephone: 01224 625111 Fax: 01224 626007 Email: mike.brown@aab.co.uk / douglas.martin@aab.co.uk Website: www.aab.co.uk Office location: Aberdeen Deal types undertaken: Strategy & business transformation; M&A advisory – start-ups, disposals, mergers and acquisitions, MBOs/MBIs; fundraising – debt, mezzanine and equity finance; transaction support – financial modelling, due diligence, specialist tax advice, business valuations.

Anderson Anderson & Brown’s specialist corporate finance division has established itself as a leading player in the Scottish corporate finance arena. The firm has completed more than 450 transactions with a combined deal value of over £4.5bn and Scottish Business Insider has consistently ranked it as the top accounting firm in Scotland with regard to corporate finance transactions in the last nine years (20052013), both in terms of deals initiated and deals completed. Deals completed by AAB in the nine months to 30 September 2014 include: l VerdErg Connectors – disposal to AFGlobal Corporation (undisclosed) l Rigmar – investment from First Reserve Momentum LP involving acquisition of Interocean Marine Services (undisclosed) l S&D Fabricators – disposal to Global Energy Group (undisclosed) l Fletcher Shipping – refinance of senior debt facilities to Santander (undisclosed) l Task Fronterra – merger of Task Geoscience and Fronterra Geosciences backed by Business Growth Fund (BGF) (£3.8m) l Dales Marine Services – acquisition of Forth Group (undisclosed) l RS Occupational Health – disposal to DISA Global Solutions Inc (undisclosed) l MSL Heat Transfer – disposal to Glacier Energy Services (undisclosed) l North East Rig-Out – disposal to Williamson-Dickie Mfg Co (undisclosed) l Harbro – acquisition of RH Miller Agriculture (undisclosed) l Maritime Developments – raising of additional growth facilities from RBS (undisclosed) l AVC Media – management buy-out of controlling stake in AVC Media (undisclosed)

Mike Brown

Position: Partner, head of corporate finance Age: 57 Qualifications: CA Career history: After a career in industry, and with EY, set up AAB in 1990. In 2002 launched corporate finance division, which he leads. In 2008 named Scottish Business Insider Dealmaker of the Year.

Douglas Martin

Position: Partner Age: 34 Qualifications: CA Career history: Joined firm in 2002, partner 2010.

Significant M&A and fundraising experience with particular focus on deal-initiation activities.

Gordon Steele

Position: Partner Age: 37 Qualifications: CA Career history: Joined corporate finance team in 2004 after qualifying with audit services department, partner 2014. Appointed head of transaction support in 2011.

John Black

Position: Partner Age: 47 Qualifications: CA Career history: Qualified with EY; 1990, seconded to EY corporate finance in Houston. Joined firm in 1995, partner 2000.

Jim Pirrie

Position: Partner Age: 43 Qualifications: CA Career history: Qualified with AAB in 1997. Year in Australia.

Returned to AAB as a manager 1999. Promoted to senior manager 2001; partner 2007.

Derek Mair

Position: Partner Age: 43 Qualifications: CA Career history: Qualified with AAB in 1999. Promoted to senior manager 2005; partner 2011.

Ciara Blackwood

Position: Director Age: 32 Qualifications: Bachelor of Business Administration (Hons) in marketing Career history: An experienced management consultant having previously worked for both Accenture and Serco Consulting.

Responsible for AAB’s strategy and business transformation services and enjoys working with a wide variety of clients to ensure they maximise the value, efficiency and effectiveness of their business at all stages of the business lifecycle.

Eliza Bellamy

Position: Senior manager Age: 39 Qualifications: CA Career history: Qualified with KPMG in 1999. Extensive experience with Wood Group from 2000-2007. Joined firm in 2007.

Involved in all aspects of corporate finance work.

Brian McMurray

Position: Senior manager Age: 32 Qualifications: CA Career history: Joined corporate finance team in 2006 after qualifying with audit services department. Involved in all aspects of corporate finance work.

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BAKER TILLY

First Floor, Quay 2, Fountainbridge, Edinburgh EH3 9QG Telephone: 0131 659 8300 Fax: 0131 659 8301 Email: ewan.grant@bakertilly.co.uk Website: www.bakertilly.co.uk Office locations: Edinburgh, Glasgow, Grangemouth, Aberdeen, Lerwick and UK-wide. Member of RSM International.

Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/BIMBO/ VIMBO; refinancing; development finance; PFI/project finance; corporate recovery/ reconstruction; listing – AIM, UK stock exchange, overseas.

Baker Tilly is one of the leading national professional services firm in the UK, with around 3,500 partners and staff operating from a network of offices and a revenue of over £350m a year. Baker Tilly’s clients – from young entrepreneurial businesses to well-established listed and international organisations – operate in many sectors.

Our particular expertise is in helping owner managed, entrepreneurial and growing businesses to achieve their ambitions. We have a very strong renewables and infrastructure team based in Scotland which has been advising on onshore wind and hydro projects throughout the UK, and the hub initiative and NPD initiatives in Scotland. Our clients in the renewable energy market include key funders such as: Santander UK Plc, Unity Trust Bank, Triodos Renewables and the Bank of Tokyo together with representing developers, community groups and corporates. Our fully integrated team provides the following services: l Financial model build and review l Funder due diligence l Fundraising / Capital Markets l Tax advisory and structuring l Secondary market refinancing and valuation

Ewan Grant

Position: Partner, head of corporate finance in Scotland, chairman Baker Tilly Corporate Finance LLP Age: 53 Qualifications: MA, MCSI, CF, CA Career history: Ernst & Young, KPMG (Europa), Baker Tilly. Ewan heads up corporate finance in Scotland and is chairman of Baker Tilly Corporate Finance LLP and co-ordinates the firm’s international corporate finance activities. He leads corporate finance services across Scotland, from Aberdeen.

Mark Stewart

Position: Partner, corporate finance, head of infrastructure and renewable energy Age: 46 Qualifications: Bcom, Grad DipBS, CA Career history: KPMG, Baker Tilly Recent deals: Infrastructure: Alford Community Campus, Wick High School and is currently working on the Orkney Hospital NPD. Renewable Energy: Dungavel (26MW), Watford Lodge (10MW) and Point & Sandwick (9MW). Providing financial modelling and due diligence advice to Unity Trust Bank. Conducted a review of the hydro market for a leading funder. Part of the Scottish Government’s working party on community participation in renewable energy projects.

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Angela Toner

Position: Partner, corporate finance Age: 42 Qualifications: BCom (Hons), CA, CF Career history: Kidsons, Deloitte (Bermuda), Baker Tilly Recent deals: Due diligence for SMS plc on its acquisition of Utility Partnership Ltd, due diligence for Capita plc on a number of its Scottish acquisitions, due diligence for Praesidian Capital LLP. Advised on the disposal of globl3digital to Investis Ltd and the disposal of Cash Registers (Buccleuch) to Jonas Software. Merger due diligence for several RSLs. Working with the Scottish Government regarding the Warm Homes Fund.

Keith Anderson

Position: Partner, restructuring and recovery Age: 58 Qualifications: BCom CA Career history: Arthur Young, T Hunter Thomson & Co, Scott & Paterson, Baker Tilly Recent deals: Appointments as liquidator and administrator to a number of businesses, advice to SMEs on refinancing and restructuring.

Jamie Davidson

Position: Associate director, corporate finance Age: 32 Qualifications: CA, CTA Career history: Baker Tilly.

Recent deals: Infrastructure: hub North Scotland Ltd: Alford Community Campus, Wick High School and is currently working on Anderson High School and Elgin High School in the Scottish Schools for the Future programme. Renewable Energy: Boardinghouse (10MW), Lynemouth (2.3MW) and five hydro projects on land owned by the Forestry Commission Scotland.

Adam Cullen

Position: Associate director, corporate finance Age: 35 Qualifications: CA Career history: Baker Tilly. Recent deals: Due diligence for SMS plc on their acquisition of Utility Partnership Ltd. Due diligence on behalf of Calculus capital on their investment in Avvio, the hotel booking engine specialist. Four due diligence assignments on investments in early stage alternative finance platforms both in the UK and internationally

Connor Agnew

Position: Manager, corporate finance Age: 28 Qualifications: CA Career history: Baker Tilly. Recent deals: Recently relocated to Aberdeen. Due diligence for LDC on the £50m MBO of Clifford Thames, Due diligence for SMS plc on their acquisition of Utility Partnership Ltd. Advice to a number of Oil & Gas service companies including trade sales and MBOs.

BDO LLP

Glasgow: 4 Atlantic Quay, 70 York Street, Glasgow G2 8JX Telephone: 0141 248 3761 Fax: 0141 248 1653 Edinburgh: Citypoint, 65 Haymarket Terrace, Edinburgh EH12 5HD Telephone: 0131 347 0347 Fax: 0131 347 0330 Website: www.bdo.co.uk Office locations: Glasgow, Edinburgh and UK-wide Deal types undertaken: Mergers and acquisitions, disposals, private equity, due diligence, debt advisory and capital markets BDO LLP is the award-winning UK member firm of the BDO International network, the world’s fifth largest accountancy organisation. Our UK national corporate finance team (M&A and transaction services) completed more than 250 deals in 2013, valued at £8.4bn, and the Scottish team advised on 14 disclosed transactions valued over £500,000 and worth in excess of £671m in total. During 2013, the BDO team was the most active accountancy firm in Scotland for corporate finance deal volumes according to the Experian Corpfin 2013 league tables. BDO Corporate Finance are experts in the mid-market. We work with entrepreneurs, private equity, private and listed corporates and financial institutions. Our corporate clients come from a wide variety of market sectors including TMT, manufacturing, energy, consumer goods, support services and food and drink.

Awards include: l Deal Transaction Support Team of the Year 2014, Scottish Deal and Dealmakers Awards; l Accountancy Firm of the Year 2014, 2012 & 2011, M&A Awards; l Insolvency Team of the Year 2014, Scottish Accountancy Awards; l International Tax Adviser of the Year 2012, International Accounting Bulletin Awards; l AIM Accountant of the Year 2011, Growth Company Awards.

Neil McGill

Position: Director Age: 37 Qualifications: CA, FCA Approved person Career history: 14 years of M&A experience in Scottish and London markets advising on domestic and cross-border transactions. Neil is head of the M&A advisory team in Scotland and also leads the energy services sector team for BDO in the UK. He works with midmarket companies, private equity and management teams supporting on both the buy-side and sell-side. Deal experience in other sectors including tech, telecoms, engineering and financial services.

Craig Martin

BAKER TILLY

Telephone: 020 3201 8000 Fax: 020 3201 8001 Email: Diane.gwilliam@bakertilly.co.uk Website: www.bakertilly.co.uk Office locations: Edinburgh, Glasgow, Aberdeen, Grangemouth, Lerwick and UK-wide. Member of RSM International Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/ BIMBO/VIMBO; refinancing; development finance; PFI/project finance; corporate recovery/reconstruction; listing – AIM, UK stock exchange, overseas.

Diane Gwilliam

Position: Partner, NRG Group Age: 36 Qualifications: CA Career history: Joined Baker Tilly corporate finance in London in 2001, partner in 2008 and heads up the London Transaction Services team. Specialist experience in listed company transactions covering both AIM and the main market for both UK and overseas businesses. Extensive experience of due diligence assignments for both private and public companies.

Former council member of ICAS.

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Position: Director Age: 38 Qualifications: ACA Career history: Joined the firm in 2000 and heads up the BDO Transaction Services team in Scotland, specialising in buy-side, sellside and refinancing financial due diligence. He has over 12 years’ dedicated corporate finance experience of domestic and cross border due diligence and lead advisory assignments, having worked on a large number of successful acquisitions, MBOs/MBIs, disposals, refinancings and replacement capital transactions and having raised funds from both debt and equity providers in this regard. Sector experience includes TMT, food and drink, manufacturing, support services and construction.

Iain Steele

Position: Senior manager Age: 30 Qualifications: CA Career history: Qualified with BDO in 2009 and has over eight years’ experience advising clients in a variety of roles throughout the BDO network, including spells in London and New York. He joined the corporate finance team in 2012 and has experience in M&A and transaction services including work in the oil and gas, engineering, manufacturing, energy services and TMT sectors.

Julie Nelson

Position: Senior manager Qualifications: PhD, ACA Career history: Julie joined the Scottish corporate finance team in April 2014 having previously worked for BDO in the London corporate finance team from 2003 to 2009. She has worked on MBOs, acquisitions, and capital market transactions both in the UK and cross border.

Outside of BDO she has held senior management positions in higher education and software development companies.

Jonathan Griffiths

Position: Executive Age: 26 Qualifications: CA Career history: Qualified with BDO in 2013 and has over three years’ experience advising clients in an assurance role. He joined the Scottish corporate finance team in early 2014 and focuses on M&A, advising clients on mergers, acquisitions, disposals and debt restructuring.

Team deals: Sale of Everwarm to Lakehouse Holdings, equity investment in Genius Foods by Verlinvest SA, acquisition of Preformed Windings by Clyde Blowers Capital, equity investment in D Mack by Maven Capital Partners, sale of Henry Halstead to Park Ohio Corporation and Rule 3 advisory role in connection with the sale of Heart of Midlothian plc to Bidco (1874) Ltd.

Ian McDonald

Position: Assistant director – corporate finance Age: 31 Career history: Joined corporate finance team at the end of 2013, with more than 12 years’ banking and investment experience.

Experience of working with businesses and individuals through all cycles from initial company set-up, implementing appropriate funding structures for investment, MBOs and growth through to company disposals by way of mergers and acquisitions.

David Fitzsimons

Position: Executive – corporate finance Age: 25 Qualifications: BA (Hons) Career history: Joined corporate finance team at the start of 2013 having previously worked within a transaction support role at a Big Four firm. Specialises in lead advisory and transaction support work, assisting with acquisitions and disposals, as well as debt restructuring. Expertise in financial modelling for numerous private equity-backed transactions, alongside other fundraising and restructuring engagements.

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CAMPBELL DALLAS LLP

Titanium 1, King’s Inch Place, Renfrew PA4 8WF Telephone: 0141 886 6644 Fax: 0141 886 2773 Email: chris.horne@campbelldallas.co.uk Website: www.campbelldallas.co.uk Office locations: Aberdeen, Glasgow, Perth, Stirling Deal types undertaken: Due diligence; acquisition/disposal; MBO/MBI; refinancing; litigation valuations; business restructuring; development finance; corporate valuations; corporate reconstruction; listing – AIM, UK stock exchange, overseas.

CHIENE + TAIT

Campbell Dallas is a leading firm of independent business advisers serving the SME and corporate markets across Scotland. Our high levels of experience and expertise ensure sound commercial and professional lead advisory and financial due diligence advice.

Our success lies not only in our expertise, but also in the fact that we pride ourselves on building close working relationships with our clients.

Recent team deals: Lead adviser to Crieff Hydro in £18m fundraising and subsequent acquisition of two hotels. Lead advisers to Professional Testing Services Ltd in multimillion-pound disposal to Glacier Energy Services Ltd. Lead advisers to Laplace Electrical Ltd in recent MBO transaction. Provided due diligence and deal support to Business Growth Fund throughout investments including those in Mono Global Group Ltd and SPEX Services Ltd, due diligence for Maven Capital Partners and their investments as part of a £14m MBO of RMEC and £5m for the MBO of R&M Engineering, and in a number of deals alongside Scottish Loan Fund and Lloyds Development Capital.

Chiene + Tait is one of Scotland’s largest independent accountancy firms, with a strong partner-led service backed by more than 100 professional staff. Our corporate finance experience covers, in particular, assisting SMEs in raising funding, due diligence reports and business valuations. We offer a flexible, user-friendly service, integrating with our excellent tax skills, working well with clients and other professionals.

Chris Horne

Position: Managing partner, Corporate finance partner Age: 43 Qualifications: BA CA Career history: In June 2008 became managing partner at Campbell Dallas LLP. Continues to head up corporate finance and has vast experience in the food and drink sector. He is also involved in a variety of deals from £500,000 to £50m.

Tom Faichnie

Position: Corporate finance partner Age: 44 Qualifications: BAcc (Hons) CA Career history: Corporate finance partner in the Aberdeen office of Campbell Dallas LLP. Tom has vast experience and knowledge of the oil and gas and wider energy sector. Significant experience of private equity transactions. He is also involved in a variety of deals from £1m to £50m.

Graham Cunning

Position: Consultant Age: 49 Qualifications: BAcc CA Career history: Joined Campbell Dallas February 2013. Previously national director – acquisition finance, Clydesdale Bank, and PwC & KPMG corporate finance. Expertise in advising and funding PE-backed management buy-outs, acquisitions, disposals, business expansion and strategy in deals typically in the £5m-£150m EV range across a variety of sectors.

Gerald McLaughlin

Position: Assistant director – corporate finance Age: 33 Qualifications: BAcc (Hons) CA Career history: Joined corporate finance team in 2005. Has considerable experience in all aspects of corporate finance work, with focus on due diligence, MBOs, acquisitions, disposals, financial modelling and business planning. Significant experience in engineering, printing and manufacturing sectors. Has provided diligence services and lead advisory to both corporate investors and private equity houses.

61 Dublin Street, Edinburgh EH3 6NL Telephone: 0131 558 5800 Fax: 0131 558 5899 Email: enquiries@chiene.co.uk Website: www.chiene.co.uk Office locations: Edinburgh, London Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/BIMBO; refinancing; PFI/project finance; development service.

Jeremy Chittleburgh

Position: Senior partner Qualifications: BSc, CA Career history: Qualified Chiene + Tait 1991; worked for CharterGroup Partnership, returning to Chiene + Tait as partner in 1996. Broad experience in corporate finance, MBOs, transaction support, due diligence and disposals. Recent deals: Corporate activity for ownermanaged and property businesses. Values vary from £250,000 to £50m.

Kenneth McDowell

Position: Partner Qualifications: CA Career history: Qualified as CA 1995. Worked for PwC, Edinburgh, for seven years, latterly as senior manager responsible for SME sectors. Joined Chiene + Tait in 2003, partner 2004. Recent deals: Corporate activity and transaction support services to healthcare, owner-managed businesses and property investment sectors.

Carol Flockhart

Position: Partner Qualifications: BCom, CA Career history: Qualified as a CA with Chiene + Tait in 1997 and became partner in 2011. Provides business advisory services to SME clients. Recent deals: Various projects including funding for a care home group expansion.

Neil Norman

Position: Director Qualifications: MA, CA Career history: Qualified as a CA in 2007. Worked for various firms, including KPMG, prior to joining Chiene + Tait. Leads the firm’s entrepreneurial group that advises companies to obtain funding and equity investment, employ growth strategies, restructure/refinance and achieve exits.

Advises numerous angel investment groups, both directly and via a tailored service commissioned by LINC, the national association for business angels in Scotland.

Recent deals include advising on multiple domestic and cross-border angel investment rounds, restructuring and enabling employee incentivisation in a €50m+ turnover business, MBO and MBI structuring and an “acqui-hire” exit.

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IN ASSOCIATION WITH

CLB COOPERS

Ship Canal House, 98 King Street, Manchester M2 4W Laurel House, 173 Chorley New Road, Bolton BL1 4QZ Fleet House, New Road, Lancaster LA1 1EZ Telephone: Manchester – 0161 245 1000; Bolton – 01204 551100; Lancaster – 01524 541200 Fax: Manchester – 0161 817 2671; Bolton – 01204 551101; Lancaster – 01524 541201 Email: manchester@clbcoopers.co.uk; lancaster@clbcoopers.co.uk; bolton@ clbcoopers.co.uk Website: www.clbcoopers.co.uk Office locations: Manchester, Bolton, Lancaster Deal types undertaken: Acquisition/disposal; MBO/MBI/BIMBO; refinancing; development finance; corporate recovery/reconstruction; listing – AIM, UK stock exchange, overseas.

CLB Coopers is a leading independent accountancy and advisory firm, with 13 partners and more than 100 staff operating across the north-west.

We tailor our advice and work collaboratively with our clients to deliver innovative solutions dedicated to maximising value. We pride ourselves on our partner-led approach and recognise our biggest asset is our experienced and talented teams who pay exceptional attention to technical detail.

We work to develop relationships with our clients, not only as a business, but as individuals, and we pride ourselves on understanding our clients’ businesses and personal aspirations. We listen, understand and advise; honestly and impartially.

Steven Lindsay

Position: Corporate finance partner Age: 51 Qualifications: BAcc (Hons), CA, CF Recent deals: Disposal of healthcare business to overseas buyer.

MBO of Palletower. Acquisition of transport software business.

CONSILIUM CHARTERED ACCOUNTANTS

169 West George Street, Glasgow G2 2LB Telephone: 0141 204 6650 Fax: 0141 204 6699 Email: john.blair@consiliumca.com Website: www.consiliumca.com Office locations: Glasgow Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/BIMBO; refinancing; development finance; project finance; reconstruction; grants advisory Consilium was established in October 2013 by six experienced partners who identified the opportunity to develop an independent Scottish accounting firm focusing on meeting the needs of Scottish businesses. Our objective is to understand our clients’ needs and provide high-quality compliance and advisory services to owners and their businesses.

John Blair

Position: CF advisory partner Age: 41 Qualifications: BA CA Career history: Trained with a Big Four firm, qualifying in 1997.

Joined a mid-tier firm in 2002 as a director within CF advisory. Set up Consilium in October 2013. Responsible for delivering a full range of CF advisory services to a broad range of clients.

David Holt

Position: Transaction services partner Age: 47 Qualifications: BSc ACA Career history: Trained with Arthur Andersen in both London and Glasgow, making partner in 1999. Held partner positions with a Big Four firm and more recently a mid-tier accountancy firm, involving heading up the Scottish transaction services team, before setting up Consilium in October 2013. Responsible for all transaction services work within Consilium including grants advice and reporting.

Linzi Wilson

Position: CF senior manager Age: 33 Qualifications: BAcc (Hons) CA Career history: Qualified in 2005, upon which joined the CF team within a mid-tier firm. Joined the Consilium CF team in November 2013. Involved in all aspects of corporate finance including both lead advisory and transaction services.

CA MAGAZINE DECEMBER 2014

Recent deals: l Merger of HBM Sayers with Berrymans Lace Mawer l Investment by Panoramic Growth Equity in Edesix Ltd l Regional Growth Fund grant award to North West Logistics Ltd l Disposal of Quadscot Precision Engineers to Pressure Technologies plc l Disposal of Shering Weighing Ltd to Precia-Molen l Scottish Loan Fund Investment in BioFilm Ltd, on behalf of Maven Capital Partners.

DELOITTE

Saltire Court, 20 Castle Terrace, Edinburgh EH1 2DB Telephone: 0131 221 0002 Fax: 0131 535 7888 Website: www.deloitte.co.uk Office locations: Aberdeen, Edinburgh, Glasgow and UK-wide Deal types undertaken: Acquisition/disposal; strategic advice; MBO/MBI; debt advisory/refinancing; fundraising; project finance; corporate recovery/reconstruction; listing – AIM, UK stock exchange, overseas.

Deloitte is one of the UK’s leading professional services firms, employing some 13,000 people in 23 cities across the UK. Deloitte has the broadest and deepest range of skills of any business advisory organisation and provides audit, tax, consulting and corporate finance services to a variety of organisations through specialist industry groups.

Cahal Dowds

Position: Vice-chairman of Deloitte UK Qualifications: Degree in accounting and finance, CA Career history: Founding partner of Rutherford Manson Dowds, President of ICAS 2003. Cahal is a partner in our Edinburgh and London offices and is chairman of Deloitte’s corporate finance advisory business in the UK. He has advised on a significant number of large, complex transactions from a wide variety of sectors.

Ian Steele

Position: Senior partner for Scotland and Northern Ireland; elected member of Deloitte’s UK board Qualifications: BAcc, CA Career history: Arthur Young, British Linen Bank, Touche Ross, Rutherford Manson Dowds. Ian has over 25 years’ experience in corporate finance, including buy-side and sell-side transactions with UK corporates, private equity and banks.

John Reid

Position: Partner in charge of restructuring services in Scotland Qualifications: MA (Hons), ACA Career history: Head of the restructuring services team in Scotland since 2000. John oversees a range of services, including insolvency appointments, reviews for financial stakeholders and assisting companies to develop operational and financial turnaround plans.

Rick Ballard

Position: Partner in charge of transaction services in Scotland Qualifications: LLB, CA Career history: Arthur Andersen. Rick works extensively on buy-side and sell-side financial due diligence.

He also performs reporting accountant work for listed companies and provides IPO-readiness and assist services.

Gavin Hood

Position: Partner, corporate finance advisory Qualifications: BCom (Hons), CA Career history: Arthur Andersen (Edinburgh and Sydney). Gavin is responsible for the corporate finance advisory team in Edinburgh and has a wide range of M&A experience across fundraisings, acquisitions, disposals, management buy-outs, refinancing, strategy and exit reviews.

Graeme Sheils

Position: Partner, audit Qualifications: BA, CA Career history: Rutherford Manson Dowds, Coopers & Lybrand.

Graeme is responsible for audit and advisory services in Aberdeen and corporate audit throughout Scotland and Northern Ireland – his industry experience is centred on oil and gas, particularly service sector and private equity transactions.

Team deals: A breadth of high-quality financing, buy-side and sell-side transactions across a number of sectors. In 2013/14 this included: the acquisition of Loch Lomond Distillery Co by Exponent Private Equity; the development capital raise and minority investment in Mono Consultants by BGF; the disposal of Intelligent

Office to YFM; the disposal of Stirling Park to Capita; the disposal of Hughes Insurance to Liberty Mutual; the disposal of Integrated Engineering Services to Wilhelmsen Technical Solutions; the acquisition of Motherwell Bridge by Cape; the acquisition of ADTI (a division of Transocean) by Sun Capital Partners; the acquisition of Arnlea by NVM Private Equity; the acquisition of Coates Offshore

by SCF Partners; the acquisition of Skycig by Lorillard; the acquisition of Epyx by Fleetcor Technologies; the disposal of Whyte & Mackay to Emperador; equity investment by Verlinvest in Genius Foods; Corporate and Rule 9 advisers to Bidco (1874) on the acquisition of Heart of Midlothian; the disposal of Pulsant to Oak Hill; the acquisition of a minority stake in ACS Clothing by BGF; the disposal of Freshcatch to Interfish; the development capital raise and minority investment in Lomond Capital by MML Capital; the disposal of Scotshield Ltd to SPIE UK Ltd; the acquisition of Safehouse Habitats by First Reserve Momentum and Simmons Private Equity; Investment in Unique Maritime Group LLC by Blue Water Energy.

Barry Fraser

Position: Executive director, lead advisory Age: 42 Qualifications: MA, CA, CF Career history: Qualified with EY in 1995. Focuses on the oil and gas sector and has 18 years of lead advisory experience having been based in London, Edinburgh and Aberdeen. Recent deals: Advising National Response Corporation on acquisition of Sureclean Ltd, advising Growth Capital Partners on investment in Advanced Insulation, advising Sparrows on acquisition of Servtech.

Andy Fyffe

Position: Executive director, transaction support Age: 47 Qualifications: MA, CA Career history: Qualified with EY in 1992 before joining its transaction advisory services team the following year. Completed secondments in EY’s Melbourne and London offices. Leads EY’s UK beverages and pubs & restaurants transaction teams.

Recent deals: CALA’s acquisition of Banner Homes; sale of Orchid Group to Mitchells & Butlers; refinancing of Trust Inns.

Mike Timmins

DELOITTE

2 New Street Square, London EC4A 3BZ Telephone: 020 7936 3000 Fax: 020 7007 1074 Website: www.deloitte.co.uk Office locations: London and UK-wide Deal types undertaken: Acquisition/disposal; strategic advice; MBO/MBI; debt advisory/refinancing; fundraising; project finance; corporate recovery/reconstruction; listing – AIM, UK stock exchange, overseas.

Hywel Madden

Position: Director Age: 37 Qualifications: BSc CA Career history: EY, Deloitte. Advises public and private sector clients on transactions and financing at the public/private interface, specialising in commercial and contractual structuring, funding and finance raising and financial modelling. Served as a director on the executive board of Deloitte’s joint venture Ingeus Ltd, delivering circa £800m of services to government under the Department of Work and Pensions’ Work Programme contracts.

Position: Director, transaction support Age: 37 Qualifications: BSc, CA Career history: Qualified with EY in 2002. Returned to Scotland in 2007 after Australian secondment.

Former Young Accountant of the Year and Emerging Dealmaker of the Year. Recent deals: Emperador’s acquisition of Whyte and MacKay; reporting for Exova Group plc; disposal of Motherwell Bridge to Cape plc; various advice and due diligence for Clyde Blowers Capital, SEP’s acquisition of SSE Pipelines Ltd.

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IN ASSOCIATION WITH

Andrew Kerr

Position: Director, lead advisory Age: 35 Qualifications: BLE (Hons), MSc (Econ), ACMA Career history: Commenced career with the corporate finance advisory team at Simmons & Company in 2002, prior to joining RBS Structured Finance in Glasgow in 2008. Joined EY in September 2012 as a member of the oil & gas team, subsequently assuming the lead role for EY’s corporate finance advisory team in Central Scotland. Andrew has significant experience across the Scottish market in both an advisory and funding capacity, on private equity and corporate-led transactions.

Stuart White

EY

10 George Street, Edinburgh EH2 2DZ Telephone: 0131 777 2000 Fax: 0131 777 2001 Email: npatey@uk.ey.com Website: www.ey.com/uk Office locations: Edinburgh, Glasgow, Aberdeen, Inverness and UK-wide Deal types undertaken: Acquisition/disposal; MBO/ MBI/BIMBO; refinancing; development finance; early stage/start-up; PFI/project finance; corporate recovery/ reconstruction; listing – AIM, UK stock exchange, overseas.

EY is one of the world’s leading business and financial advisers. Our dedicated transaction advisory services team works with the UK’s most successful corporate, banking and private equity businesses and entrepreneurs to support a full range of deal requirements, from acquisitions and disposals to restructuring and flotations.

We aim to deliver innovative yet practical solutions, from concept to implementation, through close working with our clients.

Neil Patey

Position: Partner and head of transaction support in Scotland Age: 50 Qualifications: BAcc, CA Career history: Qualified with EY in 1988 and promoted to partner in 1998. Returned to Scotland in 2007 following nine years with London-based private equity team.

Recent deals: SEP acquisition of Indigo Pipelines Ltd, Cala acquisition of Banner Homes, sale of Motherwell Bridge, Emperador acquisition of Whyte & Mackay, Exova IPO, Maven acquisition of Lambert Contracts

Colin Dempster

Position: Partner and head of restructuring Scotland Age: 51 Qualifications: LLB (Hons), CA, FABRP Career history: Partner with Arthur Anderson in 1998. Joined EY in Scotland in 2002 following six years in London.

Recent deals: Sale of AMD5 and Inversk plc; build-out Dean Park Developments; various corporate advisory projects.

Position: Director, transaction support Age: 37 Qualifications: MA, CA Career history: Qualified with Deloitte in 2003 before transferring to transaction support at EY. Focuses on the oil and gas sector and spent a year seconded to EY’s transaction integration team in London. Recent deals: Proserv’s acquisition of KRG, Hoover Container Solutions acquisition of Container Company; report on the economic contribution of the oil and gas supply chain for Oil & Gas UK; Wilh Wilhelmsen acquisition of Integrated Engineering Services Ltd; Connection Capital’s and Praesidian Capital’s investment in Redeem Holdings Ltd.

FRENCH DUNCAN LLP

133 Finnieston Street, Glasgow G3 8HB Telephone: 0141 221 2984 Fax: 0141 221 2980 Email: enquiries@frenchduncan.co.uk Website: www.frenchduncan.co.uk Office locations: Glasgow, Edinburgh, Stirling Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/ BIMBO; refinancing; development finance; corporate reconstruction.

Yet again, FDCA has had a great year and shown itself to be one of the leading and most experienced corporate finance practices in Scotland.

Graeme A L Finnie

Position: Corporate advisory partner Age: 44 Qualifications: LLB (Hons), CA, MCSI Career history: Former Dealmaker of the Year finalist, senior positions in the corporate finance departments of two Big Four firms, managing director of two successful independent Scottish companies. Joined French Duncan to set up FDCA in 2005. Recent deals: Numerous transactions during a busy year, including three transactions in the healthcare sector.

Jeffrey Meek

Position: Head of technology and media Age: 52 Qualifications: BA, MBA, LLB, CA, CMSI Career history: Managing partner of McCabes before its merger with French Duncan in 2008.

Recent deals: Due diligence for acquirers, valuations, loss-of-profit claims, reporting accountant on a number of ISDX listings.

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ACCOUNTANTS

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IN ASSOCIATION WITH

Greg Callan

Position: Partner and head of entrepreneurial services Age: 52 Qualifications: B.Acc CA Career history: Managing partner of Macfarlane Gray before its merger with French Duncan in 2012. Advising growth businesses for more than 20 years. Recent deals: Advisory role on a number of business sales; assistance with refinancing of businesses.

Colin Abercrombie

Position: Partner Age: 51 Qualifications: BA, CA Career history: Managing partner of Abercrombie Gemmell prior to the merger of that firm with French Duncan earlier this year.

Specific expertise in advising SME growth businesses on financial planning and strategy. Recent deals: Advisory role in a number of re-financing deals and technology start-up funding assignments.

Euan Ferries

Position: Corporate advisory director Age: 47 Qualifications: BA, CA Career history: Joined FDCA in 2005.

Former senior manager with BDO Stoy Hayward and director of finance with a visual services company. Recent deals: Due diligence for funders and Scottish Enterprise, advisory role on a number of sale mandates, share valuations, fundraising and a number of RSA grant applications (more than £90m raised over the last nine years).

Harry Linklater

Position: Corporate advisory director Age: 42 Qualifications: LLB, CA Career history: Joined FDCA in July 2011. Trained and worked post-qualification with RMD/Deloitte within its CF advisory team. Career thereafter included roles with RBS (property finance) and Springfords corporate. Recent deals: Advisory roles for a range and scale of clients, including retained client purchase and sale-process advisory work, review work and detailed financial forecasting for newto-market food and drink businesses and leisure businesses.

Graeme Smith

Position: Corporate advisory senior manager Age: 49 Qualifications: BA, CA Career history: Joined FDCA in 2007.

Qualified with KPMG in Edinburgh, worked for 15 years with Scottish Government heading a team responsible for appraising RSA grant applications. Recent deals: RSA grants secured for a range of clients, both indigenous companies and inward investors with more than £90m raised by the FDCA RSA team in the last nine years. Company disposal, fundraising and refinancing assignments across a range of sectors, including life sciences, packaging, contact centres, online education and care homes.

GERBER LANDA & GEE LTD

11-12, Newton Terrace, Charing Cross, Glasgow G3 7PJ Telephone: 0141 221 7446 Fax: 0141 248 2469 Email: jim.murphy@gerberlandagee.co.uk Website: www.gerberlandagee.co.uk Office locations: Glasgow Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/BIMBO; development finance; corporate recovery/reconstruction We are the corporate finance team within Gerber Landa & Gee, a medium-sized firm of chartered accountants and business advisers based in Glasgow. Over the last few decades we have acted in a lead advisory and support role for our client base in the following aspects of corporate finance: company acquisitions and disposals, management buyouts, corporate recovery/reconstructions, transaction support including due diligence, business valuations and specialised tax advice.

The team offers a practical director led service. Our directors along with our support staff have been advising clients on how to maximise their potential for several decades. Current and new clients are assisted by experienced qualified professionals and as such the advice and support provided is based on practical experience.

Jim Murphy

Position: Director Qualifications: CA Career history: Trained with Gerber Landa & Gee and qualified as a CA in 1977, when he moved to KPMG. Rejoined Gerber Landa & Gee in 1981 and became a partner in 1985. Specialises in advising growing businesses and providing management support to assist companies achieve their growth strategies. Also has extensive experience in the audit of charities and public interest bodies.

Charles Martin

Position: Director Qualifications: CA, CTA Career history: Qualified as a CA at the age of 22 and CTA two years later. Admitted as a partner at 24 following a spell with KPMG post-qualification.

Former member, ICAS Research Committee.

Tom Hughes

Position: Director Qualifications: LLB, CA, CTA Career history: Qualified as a CA with Coopers and Lybrand (now PwC) in 1975; Became partner in Gerber Landa & Gee in 1976; member of ICAS Council from 1993-1999; chairman, vice chairman and finance director of Partick Thistle Football Club (1997-2010); member of Actuarial Professional Appeals Tribunal since 2004; member of ICAS Appeals Committee since 2004; member of the Judicial Panel of the Scottish Football Association since 2012.

GEOGHEGANS

6 St Colme Street, Edinburgh EH3 6AD Telephone: 0131 225 4681 Fax: 0131 220 1132 Email: iain.binnie@geoghegans.co.uk Website: www.geoghegans.co.uk Office location: Edinburgh Deal types: Early stage/start-up; acquisition/disposal; MBO/MBI/BIMBO; refinancing; development finance; corporate recovery/reconstruction.

Geoghegans is one of Edinburgh’s leading independent firms, with six partners and 45 staff. We provide a wide range of services, including audit, accounting, tax, business development, business start-up, insolvency, corporate recovery and corporate finance. Geoghegans operates mainly in the SME sector and we pride ourselves on the level of client service we deliver.

Iain Binnie

Position: Partner Age: 49 Qualifications: BA, CA Career history: Qualified as a CA 1989, worked for EY for more than 10 years, then finance director of manufacturing company.

Geoghegans partner 2001, responsible for audit and advisory services and full range of corporate finance services.

Paul Marshall

Position: Partner Age: 36 Qualifications: MA (Hons), CA, CTA Career history: Qualified as a CA in 2003 working for Geoghegans predominantly in corporate audit and providing advisory services to owner- managed businesses. Moved to an investment bank for one year before returning to Geoghegans to complete the CTA qualification. Now specialises in corporate tax, corporate audit and corporate finance services.

CA MAGAZINE DECEMBER 2014

GRANT THORNTON UK LLP

95 Bothwell Street, Glasgow G2 7JZ; 7 Exchange Crescent, Conference Square, Edinburgh EH3 8AN Telephone: 0141 223 0000 Fax: 0141 223 0001 Website: www.grant-thornton.co.uk Office locations: Glasgow, Edinburgh, London and UK-wide Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/ BIMBO; refinancing; development finance; PFI/project finance; corporate recovery/ reconstruction; listing – AIM, UK stock exchange, overseas.

At Grant Thornton UK LLP, we combine award-winning technical expertise with the intuition, insight and confidence gained from our extensive sector experience and a deeper understanding of our clients. Through empowered client service teams, approachable partners and shorter decision-making chains, we provide a wider point of view. For clients, this means we can offer more meaningful and forward-looking advice. In the UK, we are led by more than 185 partners and employ 4,200 of the profession’s brightest minds, operating from 27 offices. We provide assurance, tax and specialist advisory services to more than 40,000 privately held businesses, publicinterest entities and individuals nationwide. Grant Thornton is one of the world’s leading independent assurance, tax and advisory firms. More than 38,500 Grant Thornton people, across over 120 countries, are focused on making a difference to clients, colleagues and the communities in which we live and work.

Rob Caven

Position: Partner Qualifications: BSc (Hons), CA Career history: Joined Grant Thornton in 2004, having previously been a partner with Arthur Andersen for a number of years in London and the Far East. He has 25 years advisory experience including sales, managed exits, debt advisory, workouts and restructuring.

Nathan Goode

Position: Partner Qualifications: BA Hons, ACIB Career history: 11 years with Grant Thornton. Previously at Arthur Andersen and British Linen Bank as project finance adviser. Leads UK energy, “cleantech” and sustainability team. Global lead for Grant Thornton international energy and cleantech group. Specialises in projects in renewables, energy-efficiency and environmental sectors. Recent deals: Various renewables, energy-efficiency and waste-to -energy transactions.

Neil McInnes

Position: Director Qualifications: BAcc (Hons), CA Career history: Qualified with Grant Thornton 2001 and joined the corporate finance team in 2003. Specialises in advisory, due diligence and capital markets reporting for corporate clients, private equity, banks and other funders.

John Montague

Position: Director Qualifications: BSc (Hons), CA Career history: Joined Grant Thornton in 2007. Previously at Arthur Andersen and PwC. Has more than 20 years’ experience in corporate recovery and corporate finance. John specialises in debtor advisory projects for corporate clients.

HALL MORRICE LLP

6&7 Queen’s Terrace, Aberdeen AB10 1XL Telephone: 01224 647394 Fax: 01224 639541 Email: accounts@hall-morrice.co.uk Website: www.hall-morrice.co.uk Office locations: Aberdeen, Fraserburgh Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/BIMBO; refinancing; corporate recovery/reconstruction.

Hall Morrice is a leading firm of chartered accountants in the north-east of Scotland.

The firm’s approach is to become an integral part of the client’s team to enable the client to concentrate on the core elements of their business. Hall Morrice’s involvement ranges from initiation to post-implementation of the transaction, assisting in providing the potential to clients to fully realise their aspirations.

Hall Morrice advises a wide variety of businesses, including long-established, international and high-growth businesses looking for a proactive service.

Robert Bain

Position: Managing partner Age: 47 Qualifications: Ma CA CTA Career history: Qualified as a CA in 1991 and CTA in 1994. Assumed as partner with Hall Morrice in 1997. Experienced across all accountancy, audit, taxation and corporate finance activities. Recent deals: MBO of specialised software and management solutions business; shareholder exit of IT infrastructure services; disposal of prestige car trade group; assisting CVA restructuring of independent financial services company; restructuring of mixed property investment and car trade group; various refinancings for clients.

Stuart Watson

Position: Director of taxation Age: 63 Qualifications: FCA CTA STEP Career history: Qualified as a ACA in 1975 and CTA in 1981. Partner at a mid-tier national firm before setting up his own taxation practice. Joined Hall Morrice as tax director in 2005. Recent deals: Strategic and taxation advice on various client acquisitions, disposals and refinancings.

Hardie Caldwell is an independent CA firm with national and international representation providing a full range of accounting and business advisory services via specialist skill groups – corporate finance, audit and assurance, tax, business services and IT consultancy. Our business is focused on understanding our clients’ needs and on delivering a quality service when they need it. We work closely with our clients to support and guide them, to save them time and money, and give them the peace of mind that, as part of their team, we can help them build a bigger and better future for their business.

Angus McCuaig

Position: Partner Qualifications: BAcc, CA Career history: Joined Hardie Caldwell in 1991 as a CA student and qualified in 1995.

He has progressed to partner and has been a partner in the firm’s corporate services division since 2004. He is involved in growing and developing the corporate finance aspects of the business.

Robert Mackay

Position: Partner Qualifications: CA Career history: Joined Hardie Caldwell as a graduate trainee, and became a partner in 1985.

He specialises in audit and corporate finance work and is part of the corporate services division of the firm.

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IN ASSOCIATION WITH

David Lindsay

Position: Senior manager Qualifications: CA Career history: Became a CA in 1996 and joined the firm in 1998. He carries out a dual role between audit and corporate finance. He specialises in business plans and in the early-stage/start-up finance area.

Team deals: The above corporate finance specialists have experience covering due diligence assignments for financing up to £20m, restructuring companies in a value range from £100,000 to £27m, company sales and purchases in a value range from £300,000 to £80m, start-ups and early-stage finance, and business valuations.

HENDERSON LOGGIE

Royal Exchange, Panmure Street, Dundee DD1 1DZ Telephone: 01382 201234 Fax: 01382 221240 Email: corporatefinance@hendersonloggie.co.uk Website: www.hendersonloggie.co.uk Office locations: Aberdeen, Dundee, Edinburgh, Glasgow Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/BIMBO; and refinancing.

Henderson Loggie is one of the leading independent firms of chartered accountants and business advisers in Scotland. We have around 230 staff, and offices in Aberdeen, Dundee, Edinburgh and Glasgow. Our corporate finance department has experience in management buy-ins and buy-outs along with more traditional acquisition and merger activity. This experience, along with an excellent network of contacts, gives us the ability to produce creative and effective solutions to deals.

Greig Rowand

Position: Head of corporate finance Age: 50 Qualifications: CA Career history: Joined Henderson Loggie in 2003 after five years with a niche corporate finance practice and 10 years with a Big Four firm.

David Smith

Position: Managing partner Age: 44 Qualifications: CA Career history: Joined Henderson Loggie in 1992 and augments his corporate finance role with complementary skills developed as an accredited Mindshop facilitator, providing strategic planning and business-improvement advice.

Frank McMorrow

HARDIE CALDWELL LLP

Citypoint 2, 25 Tyndrum Street, Glasgow G4 0JY Telephone: 0141 331 9600 Fax: 0141 331 9601 Email: accountants@hardiecaldwell.co.uk Website: www.hardiecaldwell.co.uk Office locations: Glasgow Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/BIMBO; refinancing; development finance; corporate recovery/reconstruction; listing – AIM, overseas; strategic planning; business valuations.

Position: Head of forensic accounting Age: 57 Qualifications: CA Career history: 13 years with a Big Four firm and five years in a specialist corporate finance/forensic accounting practice. Joined Henderson Loggie in 2007. General corporate/M&A advisory for SMEs in various sectors. Valuation specialist.

Team deals: Various transactions, including acquisitions in professional services and manufacturing sectors, and finance raising for businesses in renewables, food and drink, software and medical devices sectors. Valuation assignments in various sectors.

DECEMBER 2014 CA MAGAZINE

ACCOUNTANTS

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IN ASSOCIATION WITH

HW CORPORATE FINANCE

231/233 St Vincent Street, Glasgow G2 5QY Telephone: 0141 227 4700 Website: www.hwcf.co.uk Email: idurie@hwca.com Office locations: Glasgow and UK-wide Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI; refinancing; development finance; corporate venturing; project finance; due diligence/IBRs; corporate reconstruction; IP valuation and advisory.

HW Corporate Finance is a flexible and entrepreneurial team of specialist advisers.

We have a wealth of experience and pride ourselves on delivering clear, practical and imaginative solutions to our clients. The team focuses on owner- managed businesses and the mid-corporate sector, with typical transaction sizes ranging from £1m to £100m.

We provide all the services expected of a large and well-established professional practice while retaining a personal approach and an overriding commitment to customer care.

All our clients enjoy a high level of director input, with our services delivered by a team member with a proven track record and experience in the relevant sector.

Ian Durie

Position: Director and head of corporate finance Qualifications: CA Career history: Price Waterhouse, 1979-1995; RMD, 1995-1999; Deloitte, 1999-2001, corporate finance partner. Simclar Group, 20012011, group finance director. Joined HWCF in September 2011.

Significant experience both as an adviser and as a principal on a wide variety of transactions in the UK and internationally. Lead adviser in more than 20 transactions and advisory projects in the past year in the transport, food and drink, retail, engineering, electronics and digital media sectors.

Mark Barry

Position: Associate director Qualifications: LLB, CA Career history: Qualified KPMG 2002, Symphony Corporate, 2008. Joined HWCF in 2013. Completed a wide range of transactional and advisory engagements, particularly, corporate restructuring and commercial/operational reviews. Leads the team’s IP valuation and advisory service. Recent deals: Growth finance for a specialist chemical manufacturer; acquisition finance for a property development company; disposal of a website and trademark portfolio; valuation of a bespoke software platform.

David Brophy

Position: Director Qualifications: BAcc (Hons), CA Career history: Joined the firm in 2011 and has more than 10 years’ corporate advisory experience at HWCF, Tenon and Deloitte. Recent projects have included independent business reviews on behalf of public and private stakeholders, strategic and commercial options appraisals and lead advisory on a number of projects within the infrastructure, food and drink, retail, engineering and manufacturing sectors.

Richard Gibson

Position: Director Qualifications: BAcc, CA, CF Career history: Qualified Baker Tilly 1992, partner 1999. Joined Haines Watts as partner in 2004. Extensive experience in restructuring, specialist lending and independent business reviews. Recent deals: Principal adviser in acquisition of assets of mineral-extraction business; MBI of global logistics & distribution company; MBO of vehicle retailer.

JOHNSTON CARMICHAEL

Bishop’s Court, 29 Albyn Place, Aberdeen AB10 1YL Fax: 01224 212222 Email: info@jcca.co.uk Website: www.jcca.co.uk Office locations: 11 offices in Scotland, with corporate finance teams based in Aberdeen, Edinburgh, Glasgow and Inverness Deal types undertaken: Early stage/start-up, acquisition/disposal, MBO/MBI/BIMBO and refinancing, corporate recovery/reconstruction.

Our corporate finance team is one of Scotland’s leading providers of corporate finance solutions. Our team, consisting of 17 people, is one of the largest dedicated deal-making teams in Scotland, with specialists who have in-depth knowledge of the Scottish market. Johnston Carmichael acts for a broad range of clients from various industry sectors and has particular expertise with owner-managed businesses.

CA MAGAZINE DECEMBER 2014

Andrew Ewing

Position: Partner Qualifications: BA, CA Career history: Joined in November 2010. Previously with a global advisory business, a listed plc, a major UK bank and a boutique corporate finance team, focusing on fundraising, deal initiation, acquisitions, disposals, MBOs and due diligence. Recent deals: A variety of due diligence assignments on behalf of private equity, banks and corporate clients; lead advisory on the sale of Sureclean Ltd to National Response Corporation; diligence and advisory support on the acquisition of Cashmaster International Ltd by Badenoch & Co; various business valuations; strategic review for the St Helena government on its major corporate investment; various financial modelling and strategic advisory roles.

Andrew Walker

Position: Partner Qualifications: MA, CA, advanced diploma in corporate finance Career history: Joined Johnston Carmichael as partner in 2003 following both experience in industry and several years in a senior corporate finance position at a large international firm. With more than 17 years’ corporate finance experience, he has extensive knowledge of the owner-managed business sector. He has built up a strong track record across the full transaction range from initiation and strategic advice through to execution and beyond. Recent deals: Disposal of Tio Ltd to Produce World Ltd; disposal of Container Company (Aberdeen) Ltd to Hoover Container Solutions; disposal of OSCA Environmental Services Ltd to OEG Offshore; equity investment in R & M Engineering Ltd by Maven Capital Partners; various due diligence assignments in the oil and gas sector; refinance of Kirkwood Homes Ltd by Bank of Scotland; refinance of Kirkwood Homes Investment Ltd by Santander.

Graham Alexander

Position: Partner Qualifications: MA (Hons) and CA Career history: Qualified as a CA in 1993 and was a corporate finance specialist with an international accountancy practice before joining Ritson Smith in 2003. Joined Johnston Carmichael in 2012 after the merger with Ritson Smith. Alexander is an experienced corporate financier with a particular knowledge of the oil and gas sector. He has an extensive track record of advising owner-managed businesses across a range of transactions. Recent deals: Investment in ICR Integrity Ltd by Graphite Capital; acquisition of Quickflange AS

by ICR Integrity Ltd; disposal of Hampton Associates to Urquhart Partnership.

Jamie Waugh

Position: Partner Qualifications: MA FCA Career history: Extensive experience in corporate entities covering a range of business sectors in the Highlands and Islands. He joined Johnston Carmichael in 1996 and is based in Inverness where he has been pivotal in the development of the corporate division. He deals with corporate finance activities ranging from fundraising to business acquisition and disposals. He also provides audit and assurance, business advisory and business strategy services and advice. Recent deals: Disposal of specialist engineering company; acquisition of agricultural supplies business.

Gordon McCarlie

Position: Director Qualifications: BAcc (Hons), CA Career history: Joined in 1993, latterly becoming audit director before joining corporate finance in early 2007. His primary focus is on the execution and delivery of the firm’s transaction service offering, including due diligence reviews for both clients and external equity and debt providers. He is also involved in forensic and expert witness work. Gordon has particular expertise in oil and gas services, construction and food and drink. Recent deals: Due diligence services on various transactions including deals in the oil and gas sector and the acquisition of Robert Graham Ltd by Caledonia Spirit Ltd; provision of forensic and expert witness services in a number of cases including loss of earnings, contractual disputes and valuations; involved in the equity investment made in R&M Engineering Ltd by Maven Capital Partners.

Stephen Paterson

Position: Director Qualifications: BA, CA Career history: Based in the Edinburgh team but covering transactions throughout Scotland/the UK. Previously worked for a national top-15 accountancy firm and in various finance director roles, winning the Scottish FD of the year award in 2000. Specific focus on M&A activity, refinancing growth companies and fundraising both equity and debt. Recent deals: MBO of Norder Associates; refinancing Chauffeurline (UK) Ltd; fundraising for GSI Corporation; fundraise My1login Ltd; acquisition of Gilbraiths (TS) Ltd; restructuring The Lane Agency Ltd; sale of Robertson Technologies Ltd; fundraising for Strategic Thinking Ltd; valuation of Propeller Multimedia Ltd; valuation of John Roe Group Ltd; MBI/MBO of Bellcom Worldwide Ltd.

Lesley Munro

Position: Director Qualifications: MA, CA Career history: Lesley qualified with one of the large accountancy firms. She joined Johnston Carmichael’s corporate finance team in 2006. With more than 15 years’ corporate finance experience, she works directly with clients, project managing transactions. She has significant deal-execution experience on a wide range of transactions and across varying sectors, particularly acquisitions, disposals, management buy-outs, and valuations. Recent deals: Disposal of Tio Ltd to Produce World Ltd; refinance of Kirkwood Homes Ltd by Bank of Scotland; refinance of Kirkwood Homes Investment Ltd by Santander; acquisition of Fox Air Ltd by TDC (Aberdeen) Ltd; various undisclosed mandates for a number of ownermanaged clients, including ongoing retained advisory work, transactions, financial modelling and valuations.

companies and shareholders on various buy-side, sell-side and finance raise mandates, representing corporates, management teams and private equity houses.

Recent deals: Sale of a majority stake in R&M Engineering to Maven Capital Partners; sale of CD Ltd to Teledyne Ltd; sale of i-TEC Well Solutions to Trican Well Service; acquisition of SCOMI’s Aberdeen-based machine shop on behalf of Broad Cairn Services; acquisition of APEX Tubular Inspection Services on behalf of Broad Cairn Services; sale of a minority stake and subsequent equity investment in Twister BV to UOP/ Honeywell on behalf of the Kenda Capital and Lime Rock Partners; sale of Capital Valves to NOV.

Lyn Calder

Position: Director Qualifications: BA, CA Career history: Qualified with Arthur Andersen and spent time with a corporate finance boutique firm before joining Clydesdale Bank where she worked for nine years in acquisition finance and commercial banking. Lyn’s experience spans the full corporate finance spectrum, with particular focus on deal initiation, debt advisory, acquisitions, disposals and fundraising. Recent deals: Debt and equity fundraisings with focus on high-growth businesses; advisory support for the acquisition of Robert Graham by Caledonia Spirit Ltd; debt advisory for manufacturing business; debt advisory for food producer; several due diligence engagements on behalf of banks and private equity houses; various business valuations and strategic advice. Recent transactions have been in a range of sectors including technology; food and drink; retail; manufacturing; and support services.

Arlene McBain

Position: Associate director Qualifications: BA, CA Career history: She joined the firm in 2007, and specialises in transaction support services, with experience delivering due diligence transactions to companies, banks and external equity providers. In addition she has experience in a wide range of transactions across varying sectors, particularly acquisitions, disposals, fundraising and valuations. Recent deals: Provision of due diligence services to Eden Springs Ltd on the acquisition of Kafevend Holdings Ltd; Caledonia Spirit Ltd acquisition of Robert Graham Ltd and the provision of strategic advisory services to a company operating in the food and drink industry.

Jacqui Taylor

Position: Associate director Qualifications: MA (Hons), CA Career history: Qualified in 2000, joined Ritson Smith in 2010 after more than nine years in corporate finance with a large international professional services firm. She joined Johnston Carmichael following the merger with Ritson Smith in 2012. She is actively engaged in the project management of a number of assignments across various industry sectors with particular experience in both upstream and oilfield service transactions. She is also involved in all aspects of M&A, including MBOs, MBIs, sales mandates and fundraising. Recent deals: Investment in ICR Integrity Limited by Graphite Capital; Acquisition of Quickflange AS by ICR Integrity Limited; Disposal of Hampton Associates to Urquhart Partnership.

James Thompson

Position: Associate director Qualifications: MA (Hons), CA Career history: Joined Johnston Carmichael in 2010. His experience encompasses fundraising, deal initiation, acquisitions, disposals, MBO/MBIs and due diligence assignments.

Recent deals: Disposal of Sureclean Ltd to National Response Corporation; MBI of Cashmaster International Ltd; fundraising for Fyne Ales Ltd.

Stefano Vincini

Position: Associate director Qualifications: BSc, CA Career history: Qualified 2006, joined Ritson Smith in 2007 and joined Johnston Carmichael following the merger with Ritson Smith in 2012. Stefano has extensive deal experience and is actively engaged in the project management of a number of M&A assignments across various industry sectors, including MBOs, MBIs, sales mandates and fundraising exercises.

Recent deals: Acquisition of Quickflange AS by ICR Integrity Ltd; acquisition of Professional Testing Services Ltd by Glacier Energy Holdings Ltd.

Stuart Black

Position: Associate director Qualifications: BA (Hons), MSc Career history: Associate director within the oil and gas corporate finance team having worked for two oil and gas focused boutique advisers, Simmons & Company International and Evercore Partners. He has worked in industry and financial services in the UK and Europe and focuses on the oil and gas industry. Stuart has worked with various oilfield service

KPMG

Saltire Court, 20 Castle Terrace, Edinburgh EH1 2EG Telephone: 0131 222 2000 Fax: 0131 527 6666 Email: dane.houlahan@kpmg.co.uk Website: www.kpmg.co.uk Office locations: Aberdeen, Edinburgh, Glasgow and UK-wide Deal types undertaken: Acquisition/disposal; MBO/MBI; private company advisory and flotation; debt advisory and refinancing; development finance; project finance; valuation.

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KPMG LLP operates from 26 offices across the UK with more than 12,000 partners and staff. KPMG’s corporate finance practice offers a wide range of independent investment banking services and comprises more than 1,600 professionals internationally providing strategic advisory and deal-management services with deep sector knowledge and insight. We often work with KPMG’s transaction services practice, which is distinguished by its research and understanding of deals. Our overall approach is to understand what our client is trying to achieve and how we can best add value to the relevant transaction.

Dane Houlahan

Position: Partner – head of corporate finance Scotland, UK head of oilfield services M&A, corporate finance Qualifications: Juris Doctor, University of Queensland Australia, Bachelor Business Management, Bachelor Commerce (finance and accounting), Securities Institute Diploma Career history: Dane joined KPMG corporate finance in 2004 after previously qualifying as a lawyer. He had worked across a wide range of sectors providing transaction advice to both listed and unlisted companies, government and financial sponsors. Recent deals: Sale of Europa Support Services to Bilfinger AG; minority sale of London Offshore Consulting to Bridgepoint Development Capital; advising management on the MBO of Arnlea Holdings and advising the Penspen Group on its successful acquisition of select oil and gas trading assets from DPS (Bristol) Ltd.

David McCorquodale

Position: Head of retail for KPMG in the UK; partner – corporate finance Qualifications: LLB, DipLP, CA Career history: David joined KPMG in Edinburgh in 1984. After qualifying as a CA in 1987, he transferred to corporate finance. David has advised several quoted and private companies on divestitures, acquisitions and fundraisings. Between 1990 and 1992, David was on secondment to the Takeover Panel in London, which regulates the conduct of all public company takeovers. In 2002, he was promoted to UK head of consumer goods and retail, for corporate finance in London, having headed corporate finance in Scotland for seven years. In January 2006, he was promoted to European head of consumer goods and retail for corporate finance. David served on the board of KPMG’s US corporate finance practice between 2008 and 2010. In 2012 he was appointed head of retail for KPMG UK. David co-chairs the KPMG-IPSOS retail thinktank and is KPMG’s spokesman for the BRC-KPMG retail sales monitor. David has advised many retailers, including Card Factor, JJB Sports plc and Tiso among many.

Recent deals: Sale of Tiso, Independent Living Services, Wallaces Express and Divex.

Craig Anderson

Position: Senior partner and head of transaction services, Scotland Qualifications: CA/BAcc Career history: Qualified KPMG 1982; partner 1990; head of transaction services Scotland since 1998; senior partner for Scotland since 2004.Recent deals: Simmons Private Equity Fund II investment in Caley Ocean Systems; Aberdeen Asset Management’s acquisition of Scottish Widows Investment Partnership; refinancing of Johnston Press plc; ESI Energy Services acquisition of Welltech Group; Argent Energy’s sale to John Swire & Sons (Green Investments) Ltd; Weir Group’s acquisition of Mathena Inc; MB Aerospace Holdings Ltd’s sale to management and Arlington Partners, and subsequent acquisition of Delta Industries and Norbert Industries.

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Alan Kennedy

Position: Oilfield services lead partner for KPMG in the UK, transaction services partner Qualifications: CA/LLB Career history: Qualified KPMG 1991; joined transaction services late 1990s; partner since 2003. Recent deals: Ferguson Group’s sale to Brambles Ltd; Wood Group’s acquisitions of Agility Projects AS and Elkhorn Holdings Inc; MPS’s acquisition of Armstrong Packaging; ICR Integrity’s sale to Graphite Capital; refinancing of EnerMech Group Ltd; ALS Group’s acquisition of Reservoir Group; Acteon’s acquisition of UTEC Survey and Probe Oil Tools Ltd; Summit Partner’s investment in Peak Well Services; Praxair’s acquisition of Dominion Technology Gases; First Reserve’s sale of Acteon to KKR.

James Kergon

Position: Director, transaction services Qualifications: CA/BEng (Hons) Career history: Qualified KPMG 2001; joined transaction services 2003; two years in San Francisco with KPMG transaction services; director since 2012. Recent deals: Simmons Private Equity Fund II investment in Caley Ocean Systems; Aberdeen Asset Management’s acquisition of Scottish Widows Investment Partnership; refinancing of Johnston Press plc; ESI Energy Services’ acquisition of Welltech Group; MML Capital’s investment in Lomond Capital; ICR Integrity’s sale to Graphite Capital; Argent Energy’s sale to John Swire & Sons (Green Investments) Ltd; Weir Group’s acquisitions of Mathena Inc; Phoenix Equity Partners’ disposal of ASCO to Doughty Hanson & Co and refinancing.

Euan Tait

Position: Director, corporate finance Qualifications: Bachelor Commerce; member Chartered Institute of Bankers and Chartered Institute of Securities & Investment Career history: Euan joined KPMG in May 2014, with a focus on oil and gas services. Euan has worked in the oil and gas sector for more than 10 years within both banking and industry. Most recently, he was head of corporate development with Bridge Energy ASA. Prior to this he had a number of roles within HBOS, Barclays and NAB Group.

Recent deals: Advising the Penspen Group on its successful acquisition of select oil and gas trading assets from DPS (Bristol) Ltd.

Bruce Walker

Position: Director, debt advisory Qualifications: BCom, CA Career history: Qualified with Ernst & Whinney, Edinburgh, 1986.

Two years in Toronto with KPMG corporate finance, in London for four years, then joined RBS specialised lending services. Rejoined KPMG corporate finance in Scotland as a director in 1998. Recent deals: GAP Group Ltd; Mactaggart & Mickel; Highland Spring; Jamal Properties; CHAP Group.

Alan Flower

Position: Director, advisory Qualifications: BAcc (Hons), CA Career history: Joined KPMG in 1991; qualified 1994 moving into role within corporate recovery team; director 2006; head of Scottish restructuring advisory since 2006. Recent deals: Various restructuring, cash management and debt-reduction mandates.

MAZARS LLP

97 Haymarket Terrace, Edinburgh, Midlothian EH12 5HD Telephone: 0131 313 7900 Fax: 0131 313 7950 Email: kevin.windram@mazars.co.uk Website: www.mazars.co.uk Office locations: Edinburgh, Glasgow Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/ BIMBO; refinancing; development finance; PFI/project finance; corporate recovery/ reconstruction; listing – AIM, UK stock exchange, overseas.

Mazars LLP is a leading international firm of accounting and business advisers providing specialist, client-focused services to businesses with interests both in the UK and overseas. The firm acts for businesses across a broad range of sectors providing technical excellence and unrivalled client service. Having appointed Kevin Windram to establish a dedicated corporate finance offering a year ago the team has grown significantly following the recruitment of Andrew Porteous and Paul Turner.

The quality of the team is reflected in its growing reputation in the market and is evidenced by the successful completion of nine corporate transactions recently.

Kevin Windram

Position: Partner, corporate finance Age: 48 Qualifications: BA, CA Career history: Trained at RMD and left to set up LWC Accountants LLP. Sold this firm to RSM Tenon in 2007, taking the role of head of corporate finance in Scotland. Joined Mazars LLP in October 2013. Recent deals: Lead advisers regarding the sale of Robert Graham Ltd; transaction services for Maven Capital in their acquisition of Crawford Scientific.

CA MAGAZINE DECEMBER 2014

Andrew Porteous

Position: Senior manager, corporate finance Age: 35 Qualifications: BA, CA Career history: Qualified with LWC Accountants LLP and moved to RSM Tenon as part of its sale in 2007. Joined Mazars LLP in January 2014. Recent deals: Transaction services for Spie Group in its acquisition of Scotshield Ltd; transaction services for Cooper Software Ltd.

Paul Turner

Position: Manager, corporate finance Age: 31 Qualifications: MA (Hons), CA Career history: Qualified with RSM Tenon in 2008 and joined the corporate finance team. Joined Mazars LLP January 2014. Recent deals: Transaction services for Maven Capital in its acquisition of Crawford Scientific.

McLAY McALISTER & McGIBBON LLP

145 St Vincent Street, Glasgow G2 5JF Telephone: 0141 221 6516 Fax: 0141 204 1008 Email: enquiries@mmmca.co.uk Website: www.mmmca.co.uk Office location: Glasgow, Ayr, Irvine Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/BIMBO; refinancing; development finance.

McLay, McAlister & McGibbon LLP is a long-established CA practice, formed in 1893 by the merger of McLay & McAlister with McGibbon & Bird. The firm has grown, not only organically but by acquisition. The merger with Wallace Martin in Glasgow, the acquisition of JM Miller & Co in Ayr and more recently R J Hart & Co in Irvine further consolidates the firm as one of the leading independent practices in Scotland. The firm has five principals in the Glasgow, Irvine and Ayr offices serving clients mainly in the west of Scotland but in locations as widespread as Inverness and London.

Paul Martin

Position: Partner Age: 49 Qualifications: BA, CA Career history: Qualified with McLay, McAlister & McGibbon in 1988. Five years in public practice and industry before setting up Wallace Martin Partnership 1993. Merged with McLay, McAlister & McGibbon 2001. Recent deals: Lead adviser on various MBOs, acquisitions, startups, refinancing, restructuring and due diligence assignments.

MILNE CRAIG

Abercorn House, 79 Renfrew Road, Paisley P3 4DA Telephone: 0141 887 7811 Fax: 0141 887 7753 Email: mcc.admin@milnecraig.co.uk Website: www.milnecraig.co.uk Office location: Paisley Deal types undertaken: Early stage/start-up; acquisition/ disposal; MBO/MBI/BIMBO; refinancing; development.

Milne Craig is an 80-strong firm with specialist teams covering tax, financial services, audit, IT solutions, corporate recovery, outsourcing and corporate finance. Our partners and senior staff combine Big Four experience with extensive practical knowledge to provide an effective, tailored service to SME clients at a realistic cost.

Our modernised offices are off the M8 between Glasgow city centre and the airport.

Key to our success is our strong links with the banking community, other professionals and our investment in quality staff.

Gordon Butler

Position: Director Qualifications: CA, CTA Career history: Joined Milne Craig after training with a Big Four firm. He has spent 40 years in public practice and has extensive experience of financing/refinancing new and existing SMEs as well as detailed, practical tax knowledge. Extensive contacts in financial sector.

David Nairn

Position: Director Qualifications: BAcc, CA, CTA Career history: 22 years in public practice. Tax specialist in a Big Four firm before joining Milne Craig in 1996. Varied business advisory portfolio; advises SMEs on funding options, buy-outs, acquisitions and restructuring.

Craig Butler

Position: Director Qualifications: BA (Hons), CA Career history: Rejoined Milne Craig in 2013 having initially trained with the company in 2004. Extensive industry practice and banking experience across both the SME and large corporate market.

Previously spent five years with RBS Corporate prior to returning to private practice.

MORRISON WATSON LLP

Gladsmuir, Castlehill Road, Kilmacolm PA13 4EL Telephone: 01505 872443 Email: info@morrisonwatson.co.uk Office location: Kilmacolm Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/BIMBO; business planning/refinancing; development finance; valuations.

Morrison Watson is a limited-liability partnership specialising in corporate finance and business support. The principal partners are Ian Morrison and David Robb, who have combined experience of more than 30 years in advising successful businesses. Ian and David worked together in corporate finance at KPMG in Glasgow. In April 2005, Morrison identified an opportunity to focus on the small to medium-sized end of corporate finance and set up Morrison Watson. Each of the partners is a qualified CA with extensive company, banking and private-equity contacts. They have advised on many significant Scottish deals including management buy-outs and buy-ins, company acquisitions and disposals, raising finance and valuations.

Ian Morrison

Position: Partner Age: 55 Qualifications: BA, CA Career history: Worked with KPMG for 25 years, latterly as director in corporate finance, before setting up Morrison Watson. Also a founding partner in Bradenham Partners LLP, which was established in 2009 to invest in young growing companies. Recent deals: Assignments include advising on the sale of John Watson (Holdings) Ltd to Multi-Color Corporation; the investment

by Bradenham Partners LLP into Execspace Ltd and Kind Cakes Ltd.

David Robb

Position: Partner Age: 48 Qualifications: BAcc, CA Career history: Qualified as a CA with Spicer & Oppenheim in 1990, joined PKF business advisory services team in 1991, KPMG corporate finance team in 1999 and Morrison Watson in 2006. Also a founding partner in Bradenham Partners LLP, which was established in 2009 to invest in young growing companies. Recent deals: Assignments include advising on the sale of John Watson (Holdings) Ltd to Multi-Color Corporation; the investment

by Bradenham Partners LLP into Execspace Ltd and Kind Cakes Ltd.

David Leslie

Position: Head of M&A and debt advisory, Scotland. Member of Scottish leadership team Age: 51 Qualifications: BAcc Hons, CA Career history: Partner since 1995. Advises a range of Scottish corporates, entrepreneurs and financial institutions.

Recent deals: Sale of Miller Construction to Galliford Try plc; sale of Neftex Petroleum Consultants to Halliburton Inc; re-financing of Optos plc; and sale of Amor Group to Lockheed Martin.

Drew Stevenson

Position: Partner, head of UK energy, utilities, mining and infrastructure transaction services, including UK oil and gas TS deals Age: 49 Qualifications: CA Career history: Qualified at Spicer & Pegler in 1987, joined PwC in 1989, and has been a partner since 2001. Recent deals: AMEC plc’s bid for FosterWheeler; FosterWheeler’s bid for MDM Engineering; the disposal of OEG to KKR; the disposal of Coates Offshore to SCF Capital Partners; the combination of Falkland Oil and Gas Ltd and Desire Petroleum; the acquisition of Booth Welsh by Clough Engineering; Exponent’s investment in Loch Lomond Distillers; acted for an underbidder on the acquisition of Whyte & Mackay Group.

Jason Morris

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Position: Partner, head of transaction services in Scotland Age: 44 Qualifications: CA Career history: Qualified at PwC in 1994 and has been a partner since 2008. Considerable sector expertise in energy, financial services, construction and technology.

Recent deals: Centrica plc’s consortium-led £1.1bn acquisition of Bord Gais Energy; Statkraft’s 49 per cent disposal of three operating wind farms (144MW); £210m disposal of Cala to Patron Capital and Legal & General and Growth Capital Partners’ investment in Advanced Insulation and £13m investment in Scopus Engineering.

Paul Brewer

Position: Partner, corporate finance and head of government and public sector Age: 53 Qualifications: LLB, CA Career history: Joined PwC in 1983. Focuses on infrastructure and renewable energy development and financing. Recent deals: Aberdeen western peripheral route; city investment for Scottish Cities Alliance; MOD air traffic control; investment and acquisition advice to infrastructure funds and fund managers.

Richard Spilsbury

Position: Head of energy capital markets Age: 46 Qualifications: BSc (Hons) Career history: Partner since 2006. Advises a range of energy and other industry corporates, entrepreneurs and financial institutions on debt and equity markets. Recent deals: Merger of AMEC and Foster Wheeler; IPOs of Seplat Petroleum, Trinity Petroleum and Energy Assets; acquisition of Vostok Energy and readmission of Zoltav Resources.

Alan Barr

PWC

141 Bothwell Street, Glasgow G2 7EQ Telephone: 0141 355 4000 Fax: 0141 355 4005 Website: www.pwc.co.uk/Scotland Office locations: Aberdeen, Edinburgh, Glasgow, UK-wide Deal types undertaken: Acquisition/disposal; MBO/MBI/BIMBO; refinancing; development finance; infrastructure/project finance; corporate recovery/ reconstruction; listing – AIM, UK stock exchange, overseas.

PwC has a significant presence in the deals market in Scotland across its corporate finance, transaction services, government, utilities and corporate-recovery businesses.

Our advisory teams bring sector knowledge and wide-ranging deal experience to all stages of a transaction from inception through deal delivery to post-deal implementation.

Bruce Cartwright

Position: Head of business recovery services, Scotland Age: 50 Qualifications: B Com (Business and Law) Hons, CA Career history: Qualified with PwC in 1989. Primarily worked in Scotland, London and Malaysia on a variety of corporate solvent and insolvent reconstructions. Partner based in Scotland since 2001. Recent assignments have involved oil and gas, property and the logistics sectors.Recent deals: Sale of ITS (Holdings) Ltd from administration.

Position: Director, transaction services, Scotland Age: 41 Qualifications: CA Career history: Qualified at PwC in 1998 and responsible for Aberdeen oil and gas team. Recent deals: Sale of OEG to KKR; acquisition of Booth Welsh by Clough Engineering; acquisition of Hydrasun by Investcorp; investment in Scopus Engineering by Growth Capital Partners; acquisition of ATR Group by NBGI Private Equity; various acquisitions for Reservoir Group; acquisition of Total UK downstream assets by Rontech; acquisition of PSN by Wood Group.

Alan Brown

Position: Director, business recovery services, Scotland Age: 38 Qualifications: CA Career history: Qualified with PwC in 2001 and has more than 12 years of experience in working with distressed and underperforming companies in a wide range of sectors. He has considerable experience in the real estate sector and advises the acquirers of underperforming loans. In addition to being a licensed insolvency practitioner, he works directly with companies assisting them in finding solutions to both their financial and operational issues.

Brian Campbell

Position: Director, leads forensics in Scotland, UK head of capital projects and infrastructure for oil and gas Age: 41 Qualifications: Royal Institute of Chartered Surveyors Career history: Joined PwC in 2011 from the oil and gas sector, adviser to multiple clients in the energy sector. Extensive project due-diligence experience as well as project review and delivery advice. Leads decommissioning for the UK firm. Leads forensics in Scotland including work in financial services and for multiple products including investigations and disputes. Recent deals: Enquest project Kraken; buy side on Marathon’s UK North Sea assets; Taqa capital efficiency review; Taqa drilling programme due diligence; North Adriatic dispute giving expert advice around project planning; Aircraft Carrier Alliance project controls advice.

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Colin Tait

Position: Director, head of valuations in Scotland Age: 37 Qualifications: CA Career history: Joined PwC in London and qualified in 2003. Part of PwC’s private-equity assurance practice then specialised in tax valuations for five years, particularly undertaking valuations for M&A, private-equity firms and MBOs. Moved to Scotland in 2008 to develop the local valuations team and leads financial services deals practice. Recent deals: Has undertaken a wide variety of deals for clients in financial services and energy, oil and gas sector.

Graham Frost

Position: Director, business recovery services, Scotland Age: 50 Qualifications: CA Career history: Qualified at PwC 1989.

Considerable sector and restructuring expertise in financial services, energy, property and business services. Specialist in pensions credit advisory. Recent deals: Disposal of International Tubular Services Ltd to Parker International Drilling, debt restructure for waste management business.

Jason McBurnie

Position: Director, corporate finance, Scotland Age: 36 Qualifications: CA Career history: Joined PwC in 1998 and has more than 12 years of lead advisory experience working with a range of clients, including leading entrepreneurs, family companies and FTSE 100-listed groups. In 2012 he returned from China after two years leading PwC’s cross-border deals team in Beijing and worked on more than 20 international transactions. He has spent the last year focusing on the Scottish lead advisory market.

Recent deals: Some of Jason’s recent clients include Clyde Blowers Capital, Optos plc, Smart Metering Systems plc and Cashmaster International

Jon Shelley

Position: Director, corporate finance, Aberdeen Age: 34 Qualifications: CA Career history: Joined PwC in 2002. Leads PwC’s corporate finance advisory services across the oil and gas and energy services sectors. Extensive domestic and international sector deal experience. Recent deals: Sale of PD&MS to Inflexion Private Equity; sale of Neftex Petroleum Consultants to Halliburton; sale of equity in Express Engineering to LDC Private Equity.

Rachel Keys

Position: Director, infrastructure finance Age: 35 Qualifications: LLB, CA Career history: Trained with PwC and transferred to corporate finance team in 2004. Worked in the infrastructure team at 3i in London before returning to PwC in Edinburgh. Focuses on the financing and procurement of major infrastructure projects and transactions at the public/private interface. Recent deals: M8 and Aberdeen Western Peripheral Route roads projects; Scottish National Blood Transfusion Service project, Local Authority infrastructure investment and energy efficiency projects

Rod Cameron

Position: Director, infrastructure finance Age: 38 Qualifications: MCIBS Career history: With PwC since 1999, specialising in debt raising and structuring for infrastructure finance projects with particular focus on transport sector. Previously worked with British Linen Bank in corporate banking and infrastructure finance. Recent deals: M8 and AWPR (Scotland); N11 (Ireland); Green Corridor (Aruba); Royal Liverpool Hospital and Scottish Blood Transfusion Services HQ project.

Ruth Kynoch

Position: Director, corporate finance Age: 41 Qualifications: CA Career history: Trained with Coopers & Lybrand. Worked with PwC in London and then BNP Paribas project finance. Focuses on structuring finance for infrastructure projects and secondary market infrastructure equity transactions. Recent deals: Various secondary market infrastructure transactions.

Susanne Godfrey

Position: Director, business recovery services, Scotland Age: 37 Qualifications: CA Career history: Trained and qualified with PwC, working in both the Scottish and London offices, including two years’ experience delivering complex restructuring in the financial services sector in London. Responsible for the team focused on supporting corporates and financial services clients in the Scottish market, to rebuild value and stakeholder confidence as well as optimising cash to fund growth. Has recently undertaken a wide variety of restructuring work across all sectors including NAB, Co-op and two Scottish based retail groups.

CA MAGAZINE DECEMBER 2014

SAFFERY CHAMPNESS

Edinburgh Quay, 133 Fountainbridge, Edinburgh EH3 9BA Telephone: 0131 221 2777 Fax: 0131 221 2778 Email: david.hughes@saffery.com Website: www.saffery.com Office locations: Edinburgh, Inverness, London, UK-wide and international via Nexia International Deal types undertaken: Early stage/start-up; acquisitions/disposals; MBOs/MBIs; refinancing; development finance; admission – AIM, PLUS Markets; transaction support and due diligence; share valuation.

Top-20 accounting and taxation advisory firm with an established and growing corporate finance practice. Partners and directors are mostly Big Four-trained but have the more personal approach of a medium-sized firm. Saffery Champness is active in all aspects of corporate finance work and has a high-quality tax-planning team to assist on deals. It has international links through Nexia for cross-border deals.

Charles Simpson

Position: Partner, London and Edinburgh Age: 54 Qualifications: FCA CF Career history: Trained at Coopers and Lybrand. Formerly corporate finance partner with Arthur Andersen.

Head of corporate finance at Saffery Champness.

Recent deals: AIM and PLUS Markets admissions; transactions as lead adviser on various deals; advice on acquisitions and disposals, MBOs and other fundraising activities; bank and VC due diligence.

David Hughes

Position: Partner, Edinburgh Age: 55 Qualifications: FCA Career history: Qualified Deloitte Haskins & Sells. Saffery Champness 1995; partner 1996. Recent deals: Fundraising for biotech and leisure companies; acquisition due diligence; taxation advice for private equity funding and angel investments; AIM listing; financial projection reviews; private company share valuations.

Niraj Patel

Position: Partner, London corporate finance Age: 35 Qualifications: ACA CF Career history: Qualified at Saffery Champness. Recent deals: Provision of lead advisory services to a several companies, including a pub and brewing business and a digital technology business; Rule 3 adviser to a property services business; provision of due diligence services for property, media and support services businesses; share and business valuations; reporting accountant for agricultural and technology businesses.

SCOTT-MONCRIEFF

Exchange Place 3, Semple Street, Edinburgh EH3 8BL Telephone: 0131 473 3500 Fax: 0131 473 3535 Email: info@scott-moncrieff.com Website: www.scott-moncrieff.com Office locations: Edinburgh, Glasgow Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI; refinancing; development finance; project finance; corporate recovery/reconstruction; listing – AIM, UK stock exchange, overseas.

Scott-Moncrieff, one of Scotland’s leading independent professional services firms, provides audit, tax, business advisory and corporate consulting services for commercial, public sector, not-for-profit and private clients. The firm’s corporate finance team combines a broad range of knowledge, skills and experience, advising on mergers and acquisitions, strategic valuations, extracting maximum value from transactions and developing exit strategies. Scott-Moncrieff is a member of Moore Stephens International, a global network of independent professional services firms.

Stewart MacDonald

Position: Managing partner and head of corporate finance Qualifications: CA, MABRP Career history: Qualified with PKF, then with PwC, latterly in corporate recovery. Joined Ford in 1987, Scott-Moncrieff in 1991. Specialist in corporate finance, reconstructions and insolvency. Recent deals: Many rebanking deals as a result of corporate restructuring due to debt forgiveness; other rebanking deals in general due to dissatisfied clients with their current lender; various valuations of companies and partnerships in regard to shareholder disputes, divorce etc.

Gareth Magee

Position: Corporate finance partner Qualifications: CA Career history: 20 years’ experience in corporate finance. Specialist experience in angel and syndicate investment; larger equity fund investment; high-growth start-ups; acquisitions and disposals.

Recent deals: Angel investments; UK-wide VCT mergers; six of the 10 Scottish college mergers; RBS-backed MBI.

Kay Thomson

Position: Corporate finance director Qualifications: CA Career history: Trained with Scott-Moncrieff; more than 15 years’ experience in corporate finance specialising in business plans, IBRs, due diligence investigations, feasibility studies etc.

Recent deals: Successful fundraising for clients; various due diligence assignments; reporting accountant for several VCT mergers; numerous business valuations; options appraisals on behalf of various funders; advising on shareholder disputes.

Wilson Partners Corporate Finance is the award-winning specialist corporate finance advisory division of Wilson Partners, an independent firm of chartered accountants.

From a base in the heart of the Thames Valley, we work with shareholders and entrepreneurial management teams of owner-managed businesses, usually with a turnover of £2m to £100m. Our corporate finance team provides advice across M&A, transaction support, tax structuring, valuation and financial modelling.

Adam Wardle

Position: Director Age: 44 Qualifications: Australian CA; affiliate member of ICAS Career history: KPMG Brisbane and Grant Thornton in Sydney before establishing GE Commercial Finance’s corporate division in the UK followed by co-founding Centric Commercial Finance, Park Capital and WP Ventures LLP.

Chris Wilson

Position: Corporate finance manager Qualifications: FCCA Career history: More than seven years’ experience in corporate finance specialising in fundraising, valuations, due diligence, acquisitions, disposals and other matters, including corporate recovery. Recent deals: College mergers, options appraisals on behalf of funders; various early-stage fundraising assignments; advising on renewable energy projects; numerous valuations of companies and share-option schemes.

Position: Director Age: 40 Qualifications: CA Career history: Qualified with Williams Allan before joining EY’s transaction advisory team in London. Co-founder of Wilson Partners in 2008 Recent team deals: Sale of cloud software business Jupix Ltd to LDC-backed The Property Services Group; sale of Lane Packaging to listed packaging business MacFarlane Group plc; MBO of AVR International; preacquisition due diligence assignments and fundraisings (debt and equity) across a range of owner-managed businesses including the iconic Coronet Cinema in Notting Hill, London.

THOMSON COOPER ACCOUNTANTS

WYLIE & BISSET LLP

James Fennessey

3 Castle Court, Carnegie Campus, Dunfermline, Fife KY11 8PB Telephone: 01383 628800 Fax: 01383 628900 22 Stafford Street, Edinburgh, EH3 7BD Telephone: 0131 226 2233 Email: info@thomsoncooper.com Website: www.thomsoncooper.com Office locations: Dunfermline, Edinburgh Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/ BIMBO; refinancing; development finance; PFI/project finance; corporate recovery/ reconstruction.

This leading independent accountancy practice delivers a comprehensive range of accounting and business advisory services including accountancy and audit; business start-ups; corporate and financial planning; insolvency; risk management; strategic planning; corporate and personal taxation and IT and marketing consultancy. Since the firm’s creation in 1949, we have an impressive and diverse range of clients from a crosssection of society. Our ability to provide services to such a broad spectrum of clientele is mainly due to the breadth of experience within the firm. We cemented our reputation as an industry leader as multiple category winners in the British Accountancy Awards (2012) and the Scottish Accountancy Awards (2013, 2010 and 2008).

Andrew Croxford

Position: Partner Age: 53 Qualifications: BA, CA, FCCA Career history: Audit manager for PwC before joining Thomson Cooper. Partner with firm since 1990. Specialist in audit compliance, corporate finance and reconstruction. Recent deals: Extensive experience in advising SME clients on a wide range of transactions, particularly fundraising, acquisitions, disposals and restructuring, across various industry sectors.

Ross Oliphant

Position: Partner Age: 32 Qualifications: FCCA, CTA Career history: Joined Thomson Cooper in 2003 and qualified in 2006. Significant experience advising on a wide range of transactions involving SME clients. Recent deals: Full range of mid-market acquisitions, disposals, debt and equity fundraisings and refinancing deals. Also various business restructuring, due diligence and share valuation assignments for a number of businesses across various industry sectors.

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168 Bath Street, Glasgow G2 4TP Telephone: 0141 566 7000 Fax: 0141 566 7001 Email: info@wyliebisset.com Website: www.wyliebisset.com Office locations: Glasgow, Oban Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/BIMBO; refinancing; development finance; corporate recovery/reconstruction.

Wylie & Bisset LLP is a leading 10-partner chartered accountancy and business advisory firm providing services primarily to Scottish SMEs. We rank within the top 20 accountants in Scotland and we are also one of Scotland’s longest-established independent firms. We have a large and varied client portfolio covering a wide range of activities, including audit and assurance, tax planning, corporate finance, business support services, corporate services, financial services, insolvency, debt recovery and IT. Specialist sectors include further education, charities and not-for- profit organisations, healthcare and housing associations.

Allister Gray

Position: Partner Age: 53 Qualifications: CA Career history: CA in public practice for 31 years, advising various sectors.

Recent deals: Extensive experience of due diligence exercises in the SME, education and other sectors.

Lorna Wyllie

Position: Partner Age: 39 Qualifications: CA Career history: CA in public practice for 15 years. Heads corporate services department, specialising in management information, business plans, funding and consultancy exercises. Recent deals: MBO transaction; various funding projects; due diligence and consultancy exercises for SME clients, banks and public sector.

Yvonne Kemp

Position: Manager, corporate services department Age: 35 Qualifications: CA Career history: Public practice for 13 years.

Specialises in management information, business plans, funding and consultancy exercises. Recent deals: Various funding projects and consultancy exercises for SME clients, banks and public sector.

Harro Leusink

WILSON PARTNERS CORPORATE FINANCE

5a Frascati Way, Maidenhead, Berkshire SL6 4UY Telephone: 01628 770770 Fax: 01628 878360 Email: adam.wardle@wilson-partners.co.uk Website: www.wilson-partners.co.uk Office location: Maidenhead, Berkshire Deal types undertaken: Early stage/start-up; business sale; acquisition/MBO/MBI/ BIMBO; refinancing; development finance.

Position: Corporate finance manager Age: 36 Career history: In public practice for 13 years, specialised in corporate finance for the last two years with significant experience in preparing businesses for sale; sale and purchase processes including review of sale/purchase agreements, due diligence and valuation; analysis/ preparation of key financial and operational information. Recent deals: Disposal, acquisition, vendor and purchaser due diligence exercises and wider corporate finance projects in the SME sector.

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ANDERSON STRATHERN LLP

Telephone: 0131 270 7700 Website: www.andersonstrathern.co.uk Office locations: Edinburgh and Glasgow Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/BIMBO; refinancing; investment; development finance; diligence; joint ventures and consortia; corporate recovery/reconstruction.

Anderson Strathern is a dynamic and progressive full service law firm of around 300 staff, with offices in the financial districts of Edinburgh and Glasgow. They are widely recognised for providing excellent client service and quality advice. Their client base includes international businesses, private companies, public bodies, not-for-profit organisations, individuals and families. They have acknowledged strengths in all aspects of property, corporate services, dispute resolution, employment and private client management.

Bruce Farquhar

Position: Partner Age: 42 Qualifications: LLB, DipLP Career history: Joined Anderson Strathern in 2001, partner 2005; deals with all aspects of corporate and commercial work including mergers, acquisitions, joint ventures and corporate finance with a particular emphasis on renewable energy. Recognised as a “leader in their field” by leading legal directory Chambers UK 2015 for corporate/M&A (Scotland) and energy & natural resources: renewables & alternative energy. Recent deals: Advising Blipfoto, one of Scotland’s leading internet companies, on equity fundraising rounds; advising a wide range of renewable energy developers on fundraising and portfolio sales and purchases and generally advising high-growth businesses.

Simon Brown

Position: Partner Age: 54 Qualifications: LLB (Hons), DipLP, WS, MCSI Career history: Partner in Anderson Strathern since 1997.

Specialises in corporate finance, including start-ups, acquisitions, disposals, joint ventures and, funding, as well as general contract work, intellectual property (non-contentious) and EU Law. Recognised as a “leader in their field” by Chambers UK 2015 in corporate/M&A (Scotland). Recent deals: acting for The Gresham Publishing Company Ltd on a management buy-out of the Geddes & Grosset and Waverley Books publishing divisions from DC Thomson Books Ltd; acting for John Martin Group on various motor dealership acquisitions and disposals, including sale of the “Murray Motors” Rolls-Royce and Aston Martin dealerships to Leven Cars Group Ltd; advising INEOS Grangemouth on a variety of high-level projects.

James Blair

Position: Partner Age: 50 Qualifications: LLB (Hons), DipLP Career history: Qualified 1988. Partner at Anderson Strathern since 2006. Former group counsel at Stannifer Group and Chelsfield plc. Described in Legal 500 as “second to none”, James is praised for caring “about what he’s doing and how it affects the business. He goes that extra mile because he’s invested in the relationship”. Recent deals: Acting for Charlesfield in the development and financing of its AD Biogas Facility at Newtown St Boswells; acting for Woking Borough Council in its BCSC Gold Award-nominated development in Woking town centre; and acting for JPMorgan in refinancing the Gallagher Retail Park, Dundee.

April Bingham

Position: Head of corporate Age: 35 Qualifications: LLB (Hons), DipLP Career history: Admitted 2002. Tutor at Glasgow Graduate School of Law 2005–2007. Head of corporate at Bellwether Green since 2008. Recent deals: Acquisition of the businesses of Macfarlane Webster WS and Alastair J. Gordon WS for Bellwether Green; acquisition of two dealerships for Vertu Motors plc; purchase of a large care home business and educational company for existing clients; sale of Flexiscale business for Flexiant Ltd; s110 reorganisation for Blantyre Castings Ltd and various other acquisitions, sales, reorganisations (usually based on tax or recovery planning), refinances and investment rounds.

Louise Cent

Position: Head of technology and media Age: 41 Qualifications: LLB (Hons), DipLP, LLM Career history: Admitted 1997, Pinsent Masons LLP, Thus plc. Head of technology and media at Bellwether Green since 2012.

Recent deals: Due diligence and renegotiation of reseller agreement for target software company in advance of share acquisition by our client; reviewing and drafting a number of key IP licences and assignations required for a complex corporate restructure; advising on a number of commercial contracts for various technology companies preparing for investment or sale.

BRODIES LLP

15 Atholl Crescent, Edinburgh EH3 8HA Telephone: 0131 228 3777 Fax: 0131 228 3878 Email: mailbox@brodies.com Website: www.brodies.com Office locations: Aberdeen, Edinburgh, Glasgow, Brussels Deal types undertaken: Acquisitions, disposals; MBO/MBI/BIMBO; private equity, venture capital; refinancings; reconstructions; listing – AIM, UK stock exchange, overseas.

Brodies LLP is Scotland’s largest law firm and its leading position in the marketplace is reflected in its corporate capability across the domestic, cross-border and international arenas. Brodies’ corporate and commercial team prides itself on providing clients with clear, commercially focused advice, and on building long-term relationships with clients as their trusted corporate adviser. The core corporate team – which comprises eight partners, three consultants and 17 other lawyers and professional advisers across the firm’s offices in Edinburgh, Glasgow and Aberdeen – supports a broad range of clients, from Scotland’s largest corporates to institutional and private investors, SMEs, funds, public bodies and the third sector. With one of the largest core corporate teams in Scotland, Brodies has the pedigree, strength and depth of resource to service any work for any client, drawing on specialists from across the firm as required. Brodies is also widely regarded as the ‘go-to’, premier corporate firm for the Scottish real estate sector. Over the past year the team has advised on strategically important transactions for its clients with a value in excess of £9bn. This “very impressive deal value” and the corporate and commercial team’s “breadth across sectors” were recognised at the Business Insider Deals & Dealmakers awards, where Brodies was named Legal Advisor of the Year 2014. Listed below are key senior members of our corporate finance team.

Shuna Stirling

BELLWETHER GREEN

225 West George Street, Glasgow G2 2ND Telephone: 0141 218 4900 Email: info@bellwethergreen.com Website: www.bellwethergreen.com Office locations (Scotland): Glasgow and Edinburgh Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/ BIMBO; refinancing; investment; development finance; diligence; joint ventures and consortia; corporate recovery/reconstruction.

Bellwether Green is a growing Scottish commercial law firm working with clients across the UK. We work to the most exacting commercial standards while at the same time ensuring that our clients find dealing with us a straightforward and enjoyable experience. Clients value our practical application of the law, depth of knowledge and our commitment to delivering results. From partnerships to public companies, we act for a wide range of business structures, helping with daily commerce as well as business-changing deals.

CA MAGAZINE DECEMBER 2014

Position: Partner and head of corporate & commercial Age: 42 Qualifications: LLB (Hons), DipLP, NP Career history: Brodies partner since 2006. Undertakes a broad range of corporate matters of strategic importance to clients, including general corporate transactions, acquisitions and disposals, equity investment work, joint ventures, MBOs, general commercial advice and advice on governance issues. Shuna also has experience in a wide variety of property-based investment work and the use of a wide range of corporate structures, including offshore vehicles. “Shuna Stirling is notable for her expertise in property-related corporate work.” (Legal 500, 2014). Recent deals: Advising Powerleague on various acquisitions, reorganisation for Maven Capital Partners of an investee company, advice in relation to several schemes for student accommodation, acting in the sale of Dexters Confectionery, advising on various property joint ventures, acting for Marsh in the Scottish aspects of its corporate acquisition of Central Insurance Services.

Julian Voge

Position: Partner Age: 56 Qualifications: LLB (Hons) Career history: Brodies partner since 1987. Recent deals: Advised Marine Harvest on the divestment of its integrated farming operations on the Shetland and Orkney Islands; advised Brodies’ long-term client (Enterprise Rent-a-Car) on its purchase of the Burnt Tree Group (one of the UK’s largest providers of commercial rental vehicles to companies and public sector organisations); acted as court reporter on the takeover of Wolfson Microelectronics; and part of the Brodies team advising Abellio on its successful bid for the ScotRail franchise.

William McIntosh

Position: Partner Age: 46 Qualifications: LLB (Hons), DipLP, NP, member of the American Bar Association Career history: Brodies partner since 2010. Specialises in mergers and acquisitions, private equity and venture capital, with a strong focus on cross-border transactions involving the US and France, as well as technology companies. Recent deals: The acquisition by DFDS from STEF of UK compa nies and divisions, along with simultaneous disposals of entities; advising Business Growth Fund plc; investment in Edesix by Panoramic Growth; sale of Park Circus to Arts Alliance; advising Transocean on a number of corporate transactions; advising various French listed companies in connection with acquisitions; the MBO of Caley Investments; and numerous cross-border group reorganisations and joint ventures.

Gill Summers

Position: Partner Age: 49 Qualifications: LLP (Hons), DipLP, NP Career history: Brodies partner since 2011. Experienced in advising on a broad spectrum of corporate matters including disposals and acquisitions, corporate restructuring and shareholder arrangements. Gill advises on transactions for owner-managed businesses including shareholder arrangements; pre-sale advice and restructuring; company acquisitions and disposals; the shipping, fishing and licensing aspects of acquisitions, disposals, fund investment and loan transactions. Recent deals: Advising Maven Capital Partners UK LLP on funding transaction for OSV company; acting for GCSS, owner of Plant Shifters (Scotland) on acquisition of Surelift (UK); acting in relation to the disposal of Integrated Engineering Services (Aberdeen), Container Company (Aberdeen) and Scotoil Services.

Eric Galbraith

Position: Partner Age: 55 Qualifications: MA, LLB (Hons), DipLP, NP Career history: Brodies partner since 2012 with comprehensive M&A, MBO and other transactional and advisory experience in the private and public sectors, ranging from ownermanaged businesses to local authorities and NDPBs. Specialisms include highly sensitive, bespoke deal management, international franchising and the use of charities in corporate projects. Eric is head of Brodies’ Food & Drink Group.

Recent deals: Eric is heavily involved with a high-profile client in the Scotch whisky industry in addition to advising Greenbelt Group on its strategic growth and advising franchisors, such as Scotwork, on new franchises for the UK, elsewhere in Europe, Asia and South America. Other deals in 2014 have included the sale of a Scottish professional services group to a national acquirer, the refinancing of a well-known marina and Scottish acquisitions for a NYSE listed global buyer.

Neil Burgess

Position: Partner Age: 43 Qualifications: LLB (Hons), DipLP, NP Career history: Brodies partner since 2013. Neil handles a wide range of corporate and commercial transactions, both domestically and cross-border, with particular expertise in M&A, private equity, MBOs, joint ventures, shareholder arrangements, corporate governance and corporate restructuring. Recent deals: Advising Clyde Blowers Capital on its acquisition of, and investment in, the Ferguson shipyard; sale of the IT consultancy Opin Systems to Trustmarque Solutions; acquisition for James Jones & Sons Ltd; various mezzanine and equity investments, reorganisations and disposals for Maven Capital Partners; acting for Accenture in the Scottish aspects of its acquisition of Hytracc Consulting; advising on corporate matters, joint venture arrangements and long-term commercial contracts for City Refrigeration Group; and advising on numerous share and business acquisitions and disposals.

Andrew Akintewe

Position: Partner Age: 39 Qualifications: MA (Hons), LLB, DipLP, Chartered Institute for Securities and Investment Career history: Brodies partner since 2013, Andrew specialises in corporate finance and investment funds work. He has extensive experience advising a diverse client base of companies, investment managers and banks on corporate transactions; the formation and operation of investment fund structures; financial regulation and other advisory work. Recent deals: Include advising a major financial institution on a £600m asset-backed investment vehicle, set up for the purposes of

funding its group pension scheme; advising a property developer on the reorganisation of its group by way of a capital reduction demerger; advising a Hong Kong-listed infrastructure investor on its bid for the acquisition of a transport infrastructure consortium and structuring investment fund vehicles within a £250m real estate fund following its fundraising on the AIM market of the London Stock Exchange.

Alistair Campbell

Position: Consultant Age: 60 Qualifications: LLB (Hons) Career history: Brodies partner 1983 to 2014, chairman 20012004. Recent deals: Loch Fyne Oysters Ltd’s acquisition of Hebridean Mussels Ltd, Loch Duart Ltd’s further funding round, FIM Sustainable Timber and Energy LP’s additional fundraising to take funds to over £100m, Glenalmond Group’s disposal of Edmiston Brown Ltd, and numerous Scottish limited partnership transactions.

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Frank Doran

Position: Consultant Age: 54 Qualifications: LLB (Hons), DipLP, NP Career history: Brodies consultant since June 2014.

Frank has significant corporate finance experience in many aspects of public company deal activity with particular experience in investment companies and investment trusts. He has advised in relation to a number of listings, IPOs, secondary offerings and takeovers. He also advises companies undertaking schemes of arrangement and other capital reconstructions including capital reductions. He has particular experience in advising on mergers and acquisitions in the financial services field. Frank also advises on all aspects of fund launches and has advised over his career on numerous fund launches in both the regulated and unregulated sector covering vehicles including partnership funds, unit trusts and OEICs.

BURNESS PAULL LLP

Main office: 50 Lothian Road, Festival Square, Edinburgh EH3 9WJ Telephone: 0131 473 6000 Fax: 0131 473 6006 Email: peter.lawson@burnesspaull.com Website: www.burnesspaull.com Office locations: Aberdeen, Edinburgh, Glasgow Deal types undertaken: Public and private M&A; private equity; venture capital; MBO; early stage/start-up; corporate recovery/reconstruction; joint ventures; listing – AIM and UKLA. Named National/Regional Firm of the Year at the Legal Business Awards 2014, Burness Paull is a premier commercial law firm advising clients doing business in Scotland and overseas. We have offices of equal size and strength in the three main Scottish business cities of Aberdeen, Edinburgh and Glasgow. Our team has strong credentials across every sector important to the Scottish economy, with a particular focus on oil and gas, financial services, and property and infrastructure. Burness Paull has impressive international capability and in the last year we have advised on deals in more than 55 jurisdictions. With a team of over 60 dedicated corporate finance lawyers, we are the most deeply resourced and experienced corporate finance player in the Scottish legal market. We have topped the Business Insider deals table for three years running, last year advising on almost £3bn worth of transactions.

Edinburgh

Peter Lawson

Position: Partner and head of corporate finance Telephone: 0131 473 6108 Email: Peter.Lawson@burnesspaull.com

Chris Gotts

Position: Partner Telephone: 0131 473 6020 Email: Chris.Gotts@burnesspaull.com

Mark Ellis

Position: Partner Telephone: 0131 473 6189 Email: Mark.Ellis@burnesspaull.com

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Walter Clark

Position: Partner Telephone: 0131 473 6195 Email: Walter.Clark@burnesspaull.com

l £200m joint venture by Interserve plc with Tiger Developments to develop Haymarket site in Edinburgh. l Merger of Scottish Building Society with Century Building Society.

Glasgow

Grant Stevenson

Position: Partner Telephone: 0141 273 6721 Email: Grant.Stevenson@burnesspaull.com

Robert Burns

Position: Partner Telephone: 0141 273 6975 Email: Robert.Burns@burnesspaull.com

Aberdeen

Ken Gordon

Position: Partner Telephone: 01224 618546 Email: Ken.Gordon@burnesspaull.com

Jamie Stark

Position: Partner Telephone: 01224 618528 Email: Jamie.Stark@burnesspaull.com

Alasdair Freeman

Position: Partner Telephone: 01224 618537 Email: Alasdair.Freeman@burnesspaull.com

Helen Dickson

Position: Partner Telephone: 01224 618520 Email: Helen.Dickson@burnesspaull.com

CLOCH SOLICITORS

Standard Buildings, 94 Hope Street, Glasgow G2 6PH Telephone: 0141 221 8029 Twitter: @ClochSolicitors Email: info@cloch.co.uk Office location: Glasgow, Aberdeen (by appointment) Cloch Solicitors is a boutique law firm which provides specialist corporate and intellectual property advice – for which the firm holds three unsolicited UK legal awards. The firm’s culture prioritises the value of a client’s idea over the depth of their pocket; hence Cloch represents decision-makers and creative thinkers of varying size, sector, structure and seat, which all benefit from a free initial consultation, personal partner-led service, fixed fees and flexible payment terms.

Philip A Hannay

Position: Managing director Age: 36 Qualifications: LLB, DipLP, PgCert, NP, LLM Career history: Goldman Sachs, 2000; Maclay Murray & Spens, 2001; other; Cloch Solicitors, 2012.

Recent deals: (Share) sale of 5.4 per cent ordinary shares of Spex Services Ltd; sale of 33 per cent issued share capital of Paisley Autocare Ltd; sale of 100 per cent issued share capital of Recovery Force (UK) Ltd; sale of 50 per cent of issued share capital of Metadigital Ltd; takeover of remaining 54 per cent of issued share capital of Optoswim Technologies Ltd; mandatory transfer of deceased’s 2.5 per cent “B” stake in Greenspace Live Ltd; (asset) acquisition of IP by El Tiburon Ltd; (restructure) £3m equity and development funding restructure of Gantock Developments LLP; (investments) £250k/40 per cent trade ordinary investment in Ceramic Coatings Ltd; £220k/10 per cent private “B” investment in Digitonic Ltd; (corporate governance/post exit issues) EDO Architecture; Sinclair Plant & Contracting Ltd; Rock Machinery Ltd; (international licensing) LDN Research Trust research exploitation; Satellite Solutions Worldwide Ltd reseller licence; Intelligent Point of Sale Ltd reseller licence; (start-ups) Neu Creative Ltd; Tense Ltd; West of Scotland Energy Ltd; Wall of Love Ltd; NanoCee Ltd.

Colin McKenzie

Position: Partner Telephone: 01224 618579 Email: Colin.McKenzie@burnesspaull.com

BURNESS PAULL TEAM DEALS l Acquisition by Acteon of Probe Oil Tools Ltd. l Acquisition of Caley Ocean Systems Ltd by Simmons Private Equity II. l IPO of Savannah Petroleum plc on AIM. l Acquisition of a majority stake in the Mamas & Papas group by BlueGem Capital Partners. l Acquisition and disposal of Liberty of London on behalf of BlueGem Capital Partners. l Acquisition of Ireland Alloys Ltd by Siegfried Jacob Metallwerke Gmbh & Co KG. l Buy-out of OEG Offshore Group by KKR and the existing management team. l Joint venture between Manston Skyport Ltd and Discovery Park in connection with the site at Manston Airport. l Takeover of Wolfson Microelectronics plc by Cirrus Logic Inc. l Acquisition of Integrated Engineering Services (Aberdeen) Ltd by Wilhelmsen Technical Solutions AB. l Acquisition of Testconsult Ltd by James Fisher and Sons plc. l MBO of Gradus Group on behalf of Endless LLP. l Investment by Maven in Crawford Scientific Ltd. l Disposal of Central Insurance Services to Marsh. l Investment by BGF into Task Geoscience Ltd. l Acquisition by EQT VI of Aker Solutions. l Acquisition of Sureclean Ltd by National Response Corporation. l Acquisition of Container Company (Aberdeen) Ltd and The Test House UK Ltd by the Hoover Group. l Investment by BGF in ACS Clothing and Xedo Software. l Disposal by Torishima Pump MFG Co Ltd of KRG Industries Ltd to Proserv. l Investment by Maven into ISN Solutions Ltd.

CA MAGAZINE DECEMBER 2014

CMS

Saltire Court, 20 Castle Terrace, Edinburgh EH1 2EN Telephone: 0131 228 8000 Fax: 0131 228 8888 Queens Road, Aberdeen AB15 4ZT Telephone: 01224 622002 191 West George Street, Glasgow G2 2LD Telephone: 0141 222 2200 Mitre House, 160 Aldersgate Street London EC1A 4DD Telephone: 020 7367 3000 Email: communications@cms-cmck.com Website: www.cms-cmck.com Office locations: Edinburgh, Glasgow, Aberdeen, London Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/ BIMBO; refinancing; development finance; PFI/project finance; corporate recovery/ reconstruction; listing – AIM, UK stock exchange, overseas.

Dundas & Wilson combined with CMS in 2014, adding D&W’s pre-eminence in Scottish corporate/commercial transactions to CMS’ market-leading position in the energy sector. CMS now has over 60 partners and 250 lawyers in Scotland. CMS is the largest law firm in Europe and a top-10 global law firm, providing clients with unparalleled legal advice and international reach. Acting for a wide range of clients in Scotland from dynamic SMEs and start-ups to leading listed companies, private equity investors, management teams and financial institutions, CMS supports its clients in a wide range of sectors, including energy and financial services. It offers quality, choice and efficiency to clients, all with an innovative and pragmatic approach.

Graeme Bruce

Position: Partner (Glasgow) Age: 55 Qualifications: LLB, DipLP, NP Career history: Partner, Dundas & Wilson, 1991.

Scott Burns

Position: Partner (Edinburgh) Age: 40 Qualifications: LLB (Hons), DipLP, NP Career history: Qualified Maclay Murray & Spens 1999. Joined Dundas & Wilson corporate team 2004; associate, 2006; senior associate, 2008; partner, 2013.

Wendy Colquhoun

Position: Partner (Edinburgh) Age: 51 Qualifications: LLB (Hons), DipLP Career history: Joined Dundas & Wilson in 2000 after 10 years in London, partner 2002.

Douglas Crawford

Position: Partner (Aberdeen) Age: 49 Qualifications: LLB, DipLP, NP, CF Career history: Joined Dundas & Wilson as partner in 1997.

David Davidson

Position: Partner (Aberdeen) Age: 48 Qualifications: LLB, DipLP Career history: Trained Dickson Minto WS 1990; partner, SJ Berwin London 2000-2001; partner, MacRoberts, 2001-2004. Joined Dundas & Wilson in 2004 as partner.

Frank Fowlie

Position: Partner (Aberdeen) Age: 38 Qualifications: LLB (Hons), DipLP, NP, QLTT (English Law) Career history: Solicitor 2001-2005 Shepherd and Wedderburn; joined CMS 2005, partner in 2008.

Alan Fulton

Position: Partner (Edinburgh) Age: 39 Qualifications: LLB (Hons), Dip LP, NP Career history: Qualified, 1999, joined Dundas & Wilson.

Partner, 2008.

Colin Lawrie

Position: Partner (Edinburgh) Age: 43 Qualifications: LLB (Hons) DipLP Career history: Joined Dundas & Wilson 1996, partner 2003

Helen Machin

Position: Partner (Aberdeen) Age: 35 Qualifications: LLB (Hons), DipLP Career history: Joined Dundas & Wilson as trainee, 2002; solicitor, 2004-2007; associate, 2007-2010; senior associate, 2010-2013; partner, 2013.

Stuart MacLean

Position: Partner (Edinburgh) Age: 39 Qualifications: MA, DipLP Career history: Qualified Slaughter and May, 1999; Slaughter and May London, Hong Kong and Singapore 1999 to 2004; Dundas & Wilson 2004-2008; partner Dundas & Wilson 2008.

Caryn Penley

Position: Executive partner – Scotland (Edinburgh) Age: 45 Qualifications: LLB (Hons), DipLP, NP Career history: Dundas & Wilson, 1993-1996; senior solicitor, Bank of Scotland 1996; senior corporate lawyer, National Australia Bank, 1997-2000; rejoined Dundas & Wilson, 2000; partner, 2002; head of banking, 2006; joint managing partner, 2012, CMS executive partner – Scotland, 2014.

Stephen Phillips

Position: Partner (Edinburgh) Age: 51 Qualifications: LLB (Hons), DipLP, NP Career history: Joined Dundas & Wilson 1992; partner Dundas & Wilson 1996.

Kenneth Rose

Position: Partner (Edinburgh) Age: 51 Qualifications: LLB (Hons), DipLP, NP Career history: Trained Dundas & Wilson, 1986-1988; assistant then associate 1988; partner 1995.

RECENT TEAM DEALS l Lloyds Banking Group – on the disposal of Scottish Widows Investment Partnership to Aberdeen Asset Management for £660m. l BP – on the sale of a number of oil and gas fields to TAQA Bratani for $1.1bn. l Land Securities plc and British Land Company plc – on the sale of entities owning the Bon Accord and St Nicholas Shopping Centres in Aberdeen for £189m. l Smart Metering Systems plc – in acquiring Utility Partnership Ltd. l ICR Integrity – advising Newco and Graphite Capital as funder of its MBO. l Ashcourt Rowan plc – on a cash box placing and acquisition of the UK Wealth Management group companies. l Lothian Buses and Transport for Edinburgh – in establishing the operational arrangements for the Edinburgh Tram. l Investec Bank plc – on the provision of £135m senior and mezzanine facilities to Motor Fuel Group Ltd (MFG) to acquire the retail business of Murco Petroleum Ltd. l Clyde Blowers Capital – in acquiring Preformed Windings Ltd. l Management in establishing Siccar Point Energy, a $500m start-up oil and gas company, funded by Blue Water Energy and Blackstone. l Steven Ferguson/Ferguson Group – in the £320m sale of Ferguson Group to a subsidiary of Brambles Ltd (listed in Australia). l Dunedin – in the acquisition of EV Offshore Ltd for £69m. l First Oil Expro Ltd – in acquiring Antrim Resources (NI) Ltd, for USD$53m. l Kennedy Wilson Europe Real Estate plc – in acquiring Fairmont Hotel, St Andrews. l Ethos Energy, a joint venture between John Wood Group and Siemens – in negotiating US$100m facilities from four international banks. l Halliburton – on the acquisition of Intelligent Well Controls Ltd. l Trump Organisation – in acquiring Turnberry Golf Resort. Legacy CMS also acted for Istithmar World on the sale side. l Macfarlane Group plc – in its £3m placing of shares.

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DAVIDSON CHALMERS LLP

12 Hope Street, Edinburgh EH2 4DB Telephone: 0131 625 9191 Fax: 0131 625 9192 Email: mailbox@davidsonchalmers.com Website: www.davidsonchalmers.com Office location: Edinburgh Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/ BIMBO; refinancing; development finance; PFI/project finance; corporate recovery/ reconstruction.

With an unwavering commitment to client service, Davidson Chalmers delivers a full range of commercially pragmatic, technically excellent and client-focused legal advice across a number of key sectors from offices in the heart of Edinburgh. Our commercially realistic business advice offers exceptional value for money. It is our fully partner led, hands-on approach that attracts a wide variety of clients, ranging from entrepreneurs and business start-ups to established Scottish owner-managed businesses to banks, major national developers and house builders, retailers, energy companies, landowners and professional service firms. We deal with challenging business issues across a wide variety of market sectors, including residential and commercial development, environmental, waste and renewables, entrepreneurs and business start-ups, retail, leisure, health and wellbeing, family-owned businesses and rural property and development. In addition to corporate finance, the other core areas of the firm include commercial property, dispute resolution, construction, environmental renewables and waste, health, R&D tax credits and licensing.

Stuart Duncan

Position: Chairman and head of corporate Qualifications: LLB (Aberdeen), Solicitor (Scotland) 1979 Career history: Bennett & Robertson, partner, 1981-1995; Davidson Chalmers LLP, partner, 1995 to date. Recent deals: Acting for CKD Galbraith LLP on its merger with Hayes Macfarlane; acting for Soirbheas in connection with a community investment in Corrimony Wind Farm; advising Edinburgh-based landscape architects on the establishment of an employee share ownership scheme; acting for Brown & Tawse in connection with the refinancing of term loan facilities for its property investment arm; acting for a number of landowners in connection with their participation in joint ventures in relation to wind farm and hydro-electric schemes in Scotland.

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Craig Stirling

Position: Partner Qualifications: LLB (Hons) (Dundee), solicitor (Scotland) 1997 Career history: Bird Semple, corporate assistant, 1997-2000; McGrigors, corporate assistant/associate, 2000-2006; Davidson Chalmers LLP, corporate partner, 2006 to date. Recent deals: Advising the shareholders of Calvatec Ltd on the sale of the company to NASDAQ 100-listed company Maxim Integrated Products; advising MacLellan IT Ltd on the sale of its entire business and assets to Pinnacle Telecom Group plc; advising the shareholders of Pogbie Wind Farm Ltd on the sale of the company to Sky Wind Energy AG; assisting Edison Energy Ltd with the debt and equity funding of a number of its large-scale wind and solar projects; assisting Urban Wind Ltd on various funding rounds and on its acquisition of Myriad Wind.

DLA PIPER SCOTLAND LLP

Collins House, Rutland Square, Edinburgh EH1 2AA Telephone: 08700 111 111 Fax: 0131 242 5555 Email: enquiries@dlapiper.com Website: www.dlapiper.com Office location: Edinburgh Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/ BIMBO; refinancing; development finance; PFI/project finance; corporate recovery/ reconstruction; listing – AIM, UK stock exchange, overseas.

As the largest law firm globally, with over 4,200 lawyers in more than 30 countries and the only law firm in Scotland with a significant presence on every continent, DLA Piper’s global reach and ability to help companies with their legal needs in Scotland, nationally and internationally is unrivalled. Unlike many law firms, we are organised to provide clients with a range of essential business advice, not just on large-scale mergers and acquisitions and banking deals, but also on employment, commercial dealings, litigation, insurance, real estate, IT, intellectual property and plans for restructuring.

Simon Rae

Position: Head of corporate and office managing partner, DLA Piper Scotland LLP Age: 41 Qualifications: LLB (Hons), DipLP Career history: 2004 to date, DLA Piper, partner; previously of Clifford Chance and Dundas & Wilson. Recent deals: Acting for Ivanhoe Cambridge on the sale of the St Enoch Centre Unit Trust to Blackstone; acting for Energy Ventures and the other vendors on the acquisition of Intelligent Well Controls Ltd by Halliburton Manufacturing and Services Ltd; acting for First Reserve on the acquisition of Rigmar Services Ltd and Interocean Marine Services Ltd; acting for Scottish Equity Partners, Environmental Energy Fund and Hermes Capital on the acquisition of Zouk Capital’s interests in Anesco Ltd.

Alasdair Wood

Position: Partner, corporate, Scotland Age: 34 Qualifications: LLB (Hons), DipLP Career history: 2014 to date, DLA Piper, partner; 2002 to 2014, DLA Piper, trainee to legal director. Recent deals: Acting for Distell Group on the acquisition of Burns Stewart Distillers; acting for Tiger Developments on its joint venture with Interserve plc for the development of Haymarket in Edinburgh; acting for TTT Moneycorp on the acquisition of Thomas Cook CFX Ltd; acting for Vespa Capital on the acquisition of WSP Textiles and Imagesound plc.

Andrew Wardrop

Position: Legal director, corporate, Scotland Age: 43 Qualifications: MA (Hons), LLB, DipLP Career history: 2004 to date, DLA Piper, legal director: previously of McGrigors.

Recent deals: Acting for ARKeX Ltd on the equity investment by 4D Global Energy Investments plc; acting for InfraRed capital partners on its secondary market acquisition of debt and equity interests in multiple PFI projects; acting for Investec on its debt and equity investment into Lomond Capital and the subsequent secondary investment by MML; acting for GVA Grimley on the acquisition of a number of professional services businesses.

DWF

Dalmore House, 310 St Vincent Street, Glasgow G2 5QR Telephone: 0141 228 8000 Fax: 0141 228 8310 Email: info@dwf.co.uk Website: www.dwf.co.uk Office locations: Edinburgh, Glasgow, Birmingham, Bristol, Dublin, Leeds, Liverpool, London, Manchester, Milton Keynes, Newcastle, Preston Deal types undertaken: Early stage/start-up; acquisitions and disposals; MBO/MBI/ BIMBO; refinancing; development finance; PFI/project finance; corporate recovery/ reconstruction; listing – AIM and UK stock exchange.

DWF is one of the UK’s leading commercial law firms with recognised strengths in corporate and commercial law, property, dispute management, health and safety, pensions, banking, infrastructure, transport and environmental law.

Alasdair Peacock

Position: UK head of corporate & banking practice group Career history: Extensive experience in corporate and commercial law, including five years as legal director and company secretary for a large listed plc. Acts for both public and private sector clients on a broad range of issues including mergers and acquisitions, debt and equity finance, commercial contracts, corporate structures, change and governance issues, procurement, joint ventures and partnerships. Particular sector experience in the tourism, hotels and retail sectors.

Wayne Lawrence

Position: Head of corporate and commercial (Scotland) Career history: Corporate partner, since 1999. Extensive experience in corporate and commercial transactions including acquisitions and disposals, joint ventures, strategic partnerships and outsourcing projects. Recent deals: Advising on a number of disposals, joint ventures and significant strategic alliances and outsourcing projects in the waste, energy and renewables sectors.

Paul Pignatelli

Position: Corporate partner Recent deals: Acting for Grahams the Family Dairy Ltd on its April and July 2014 acquisitions of Quothquan Farms and Aberdeenshire-based Mitchells Dairy; acting for Capita plc on its May 2014 acquisition of Stirling Park LLP, one of the largest sheriff officer businesses in the country; acting for Capita plc on its March 2014 £80m acquisition of IT network services provider, Updata Infrastructure (UK) Ltd; acting for Exova (UK), one of the world’s leading testing, calibration and advisory services, on its January 2014 acquisition of Catalyst Environmental Ltd; advising the vendor shareholders of Europa Support Services (majority-owned by two private equity funds) on its December 2013 sale to German engineering and services group, Bilfinger; acting for Capita plc on its October 2013 £57.5m acquisition of ParkingEye, the market leader in vehicle number-plate recognition; and acting for Distell Ltd on its $244m (£160m) 2013 acquisition of Scotch whisky producer, Burn Stewart Distillers.

Ronnie Brown

Position: Partner, corporate finance and corporate tax Career history: Partner since 2003. Track record in tax-efficient structuring of corporate finance transactions and provision of tax advice on commercial property sales and acquisitions. Recent deals: Acting for Wernick Hire on the acquisition of ATCO’s UK portable accommodation business; providing tax advice to Capita plc on its £80m acquisition of Updata Infrastructure (UK) Ltd and its acquisition of Stirling Park, sheriff officers; providing tax advice to Exova UK on its acquisition of Catalyst Environmental; advising the shareholders of Europa Support Services Ltd on the tax issues arising from its disposal to Bilfinger; providing tax support on the acquisition by AAMP of America Inc of the automotive division of AIM listed Armour Group plc, VAT advice to VisitScotland, Queen Margaret University, Babcock, McDonald’s etc.

Derek Ellery

Position: Corporate partner Recent deals: Derek acts for clients in diverse business sectors, including transportation and logistics, animal health, engineering, sport and leisure, professional services and aquaculture. He also has experience of giving corporate and business law advice to local authorities, ALEOs and third sector bodies. He recently advised: the Pars United supporters group on its acquisition of Dunfermline Athletic FC and its ground at East End Park out of administration; and Rexnord Corporation in relation to its acquisitions of Tollok SpA and Euroflex Transmissions. Derek is a solicitor in England and Wales, as well as Scotland.

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IN ASSOCIATION WITH

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DECEMBER 2014 CA MAGAZINE

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IN ASSOCIATION WITH

Damien Bechelli

Position: Corporate partner Recent deals: Acting for AAMP of America on its acquisition of the Armour Automotive division of consumer electronics group Armour Group plc; acting for the venture capital arm of one of the world’s largest private companies on its first UK investment; acting for an Edinburgh-based high-growth technology company on its follow-on equity funding rounds; acting for a private equity-backed retail sector client on its acquisition of a trade competitor; acting for two European investment funds on their corporate acquisition in the renewable energy sector; acting for a global animal genetics company on two corporate acquisitions; acting for the management team of a successful Glasgow engineering group in connection with its management buy-out and refinance.

David Gilchrist

Position: Corporate partner Career history: Partner with DWF since 2010. He has a strong track record in share and asset acquisitions/disposals, corporate restructures, joint ventures, investments/funding and corporate governance, with a particular focus in the energy and transport sectors. Recent deals: Advising a major Chinese investor on the acquisition and disposal of various solar parks/SPVs and advising on the acquisition and financing of aircraft for a regional airline.

Grant Docherty

Position: Head of banking and finance (Scotland) Career history: Qualified 1988 McClure Naismith, moved to Hong Kong in 1990 working for Johnson Stokes & Master and then as a partner with Deacons. Returned to Scotland and joined Biggart Baillie as partner and head of banking and finance in 2006. Specialises in banking and finance matters. Recent deals: Acting for Apex Hotels Ltd in its £79,400,000 refinancing with the Royal Bank of Scotland plc.

Gary MacDonald

Position: Corporate partner Qualifications: LLB (1st Class Hons); DIP LP Career history: Maclay Murray & Spens 19962005; RBS Group 2005-2007; Pinsent Masons 2007-2014. DWF 2014-current. Has extensive experience in corporate finance, including M&A, investments, joint ventures, restructuring and corporate governance matters. Advises clients, many large corporates, across sectors, particularly energy and financial services.

Chris McLauchlan

Position: Banking partner Qualifications: LLB (First Class Hons); Dip LP. Career history: 2014 to date, DWF, partner; previously of Freshfields, Minter Ellison and McGrigors. Specialises in UK and cross-border corporate lending, leveraged finance, real estate finance and debt restructuring.

Recent deals: Acting for RBS, Barclays and Bank of America in relation to the Liverpool Football Club facilities; acting for PPF in relation to the facilities for the acquisition of Czech Telecom; acting for Morgan Stanley in relation to the facilities for the acquisition of an Irish office portfolio and the refinancing of an English shopping centre portfolio; acting for the lenders in relation to the restructuring of PrimaCom; acting for Bridgepoint in relation to the restructuring of Rodenstock; and acting for Blackstone in relation to the acquisition of Multi Corporation

HARPER MACLEOD LLP

The Ca’d’oro, 45 Gordon Street, Glasgow G1 3PE Telephone: 0141 221 8888 Fax: 0141 226 4198 Email: info@harpermacleod.co.uk Website: www.harpermacleod.co.uk Twitter: twitter.com/harpermacleod Blog: www.harpermacleod.co.uk/blogs Office locations: Glasgow, Edinburgh, Inverness, Thurso Deal types undertaken: Early stage/start-up; structuring and restructuring; mergers and acquisitions; EBO/MBO/MBI/BIMBO; employee incentivisation; financing and refinancing; and corporate recovery/reconstruction.

Harper Macleod is a dynamic law firm with a reputation for its commercial approach.

Among Scotland’s leading dealmakers, in the past year alone the corporate team has advised on more than 100 deals with a total value in excess of £1bn, acting in 18 jurisdictions around the world. The team has particular expertise in family/employeeowned businesses and early-stage/high-growth investment. The third-largest legal partnership in Scotland, Harper Macleod was the legal adviser to the Glasgow 2014 Commonwealth Games, advising on the full spectrum of legal services to assist Glasgow 2014 in hosting the hugely successful event. Harper Macleod was named Firm of the Year 2014 at the Scottish Legal Awards, the seventh time it has won such a title in the past eight years.

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Donald Munro

Position: Partner Age: 43 Qualifications: LLB (Hons), DipLP, NP Career history: Partner and head of corporate team; partner, 1999; associate, 1998; trainee, 1993. Recent deals: Advising Everwarm, an energy services firm with a turnover of £46m, on its merger with the Lakehouse Group (creating group with annual sales circa £240m) – advised Everwarm, Scotland’s fastest-growing business in 2013, from start-up through to merger; advising Webhelp Group following £77m acquisition of contact centre company HeroTSC. Advising various family businesses and business families in respect of their interests, including Optical Express, Connelly Security Systems and Kent Foods.

Tom Thomas

Position: Partner Age: 50 Qualifications: LLB, dual qualified (Scotland, and England and Wales) Career history: Partner in corporate team since 2001; previously of British Steel; McClure Naismith; Henderson Boyd Jackson; Stoneham Langton & Passmore. Recent deals: Advising Highlands and Islands Enterprise (HIE) in relation to the implementation of its £146m next generation broadband project, acting as lead adviser on the underlying contract between HIE and BT; advising Glasgow 2014 Ltd, the Organising Committee for the 2014 Commonwealth Games, in relation to its host broadcast agreement and the broadcast agreements with Commonwealth territory broadcasters; advising Forestry Commission Scotland in relation to various wind and hydro scheme renewable energy joint ventures; advising the SPFL in relation to its broadcast agreements with Sky, BT Sport, MG ALBA and the BBC respectively, advising the founders of the Enduro World Series in relation to the formation and operation of the enduro mountain bike world series; advising Webhelp and its UK group on various corporate and commercial matters.

Christopher J Kerr

Position: Partner Age: 37 Qualifications: LLB (Hons), DipLP, NP Career history: Partner in corporate team since 2004. Splits his time between Inverness and Glasgow. Acting mainly for familyowned and owner-managed SMEs in the Highlands and Islands, and central belt of Scotland in relation to sales, acquisitions, joint ventures, mergers and share restructuring matters. Recent deals: Acting for A P Jess Group on various sale and joint venture matters; acting for the Clyde Group of companies on a secondary management buy-out; acting for Professional Data Management Services in the purchase of business and assets from Maxima Information Group; acting for Arriva UK Trains on various matters.

Paula Skinner

Position: Partner Age: 35 Qualifications: LLB, DipLP Career history: Partner in corporate team since April 2011.

Previously worked in house at a venture capitalist and within the investment team at Scottish Enterprise. Specialises in advising entrepreneurs with start-ups and investment, particularly high-growth start-ups.

Leads the firm’s relationship with business accelerator Entrepreneurial Spark. Also advises on mergers and acquisitions, joint ventures and restructuring.

Recent deals: Acting for Jumpstart in relation to £3.2m investment by Business Growth Fund; Kelvin Capital in relation to £550k investment into QED Naval Ltd; Maven Capital Partners in relation to a £750k investment in Biofilm Holdings; PlanBee Ltd in relation to a unique investment of £175k which included crowdfunding, public sector funding and angel investment; Zonefox in relation to £450k investment from Archangel, Tri-Cap and Scottish Investment Bank; founder of Alphastrut in relation to a sale of the majority to a company within the Murray Metals Group.

Tony Cameron

Position: Partner Age: 38 Qualifications: LLB (Hons), DipLP Career history: Partner in banking and finance team since 2012.

Previously worked at MacRoberts and has also spent time working within the corporate and structured finance team of a major UK bank. Specialises in acting for both lenders and borrowers in a wide range of transactions including acquisition finance, project finance and restructuring/ refinancing across various sectors. Recent deals: Acting for the Optical Express group of companies on a range of matters; advising on the provision of funding to JG Distillers; acting for Scottish Loan Fund in relation to funding provided to Biofilm Ltd; advising Dundee United Football Club in relation to the restructuring of its banking arrangements; advising on the provision of funding to Speyside Distillers Company; acting on the sale of the majority of the share capital of Alphastrut Ltd to a company within the Murray Metals Group.

James McGregor

Position: Partner Age: 35 Qualifications: LLB (Hons), DipLP Career history: Partner in corporate team since 2014, having joined the firm in 2012. Previously worked with DLA Piper and Shepherd

& Wedderburn. Dual qualified in Scotland, and England and Wales, with wide experience of transactional corporate matters, focusing on M&A, disposals, investments (with a focus on venture capital transactions), shareholder agreements, joint ventures, corporate reorganisations, demergers and succession planning.

Recent deals: Acting for the founders of energy services firm Everwarm on its merger with Lakehouse (creating group with annual sales circa £240m); acting for the Scottish Motor Auctions group on corporate restructuring and reorganisation projects; acting for Highlands and Islands Enterprise on the sale of the operating company of the Cairngorm Mountain ski resort to Natural Retreats; acting for Wesley Owen Ltd on the disposal of its Scottish and Northern Irish retail stores; acting for Connelly Security Systems on recent acquisitions.

HBJ GATELEY LLP

Exchange Tower, 19 Canning Street, Edinburgh EH3 8EH Telephone: 0131 228 2400 Fax: 0131 222 9800 Email: info@hbjgateley.com Website: www.hbjgateley.com Office locations: Aberdeen, Edinburgh, Glasgow, Birmingham, Leeds, Leicester, London, Manchester, Nottingham, Dubai Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/ BIMBO; refinancing; development finance; restructuring; listing – AIM, UK stock exchange, overseas.

HBJ Gateley is a top-50, full-service national law firm with nine offices across the UK and an office in Dubai supporting business in the Middle East. With more than 150 partners and over 300 other lawyers, it has specialist teams covering all aspects of legal services for businesses and individuals, including corporate, banking and finance, corporate recovery and restructuring, commercial real estate, energy and climate change, shipping and transport, social housing and regeneration, construction and infrastructure, employment, dispute resolution, pensions, tax, private client and financial services.

David Kirchin

Position: Partner and head of corporate. Career history: Qualified with HBJ Gateley before moving in-house to BP. He rejoined HBJ Gateley in 2002. Made partner in 2002 and became head of the Scottish corporate team in 2012. Chambers UK 2013 says David “is widely respected in the market”. Recent deals: Advising Senergy Group in relation to the acquisition of two complicated intellectual property assets (with a significant combined deal value) and the refinance of significant bank debt; advising Souter Investments in the acquisition of Suominen.

Andrew Ley

Position: Partner Career history: Qualified with HBJ Gateley in 2000. Made partner in 2005. Andrew has achieved consecutive individual rankings in Chambers UK directory since 2011, where comments include “Andrew Ley is technically brilliant” and “Andrew has a fantastic capacity to grasp the vitally important aspects of the deal and help parties get the very best outcome possible”. Recent deals: Advising Senergy Group (as investee) in relation to Lloyd’s Register’s largest ever equity investment to acquire a 55 per cent stake in the company; advising JD Sports Fashion plc in the acquisition of the Tiso Group Ltd; acting for the shareholders of Ramsdens Financial Ltd in respect of an MBO backed by North Edge Capital.

Murray Jack

Position: Partner Career history: Made partner in September 2012. Recent deals: Advising DestiNA Genomics in relation to an equity investment by Vitro SA, Old College Capital LP and Scottish Enterprise; advising Bertram Nurseries in relation to the acquisition of a group of four nurseries; acting for the founders of Caley Ocean Systems in the sale to Simmons Private Equity.

LEDINGHAM CHALMERS LLP

Johnstone House, 52-54 Rose Street, Aberdeen AB10 1HA Telephone: 01224 408408 Fax: 01224 408404 Email: mail@ledinghamchalmers.com Website: www.ledinghamchalmers.com Office locations (Scotland): Aberdeen, Edinburgh, Inverness, Stirling Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/ BIMBO; refinancing; development finance; PFI/project finance; corporate recovery/ reconstruction.

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Ledingham Chalmers LLP is a Scottish regional law firm with a national reputation, offering a full range of legal services to business and private clients, from individuals to start-ups and growing businesses to large organisations across a range of sectors, including oil services, property, construction, insurance and service organisations.

Neil R Anderson

Position: Partner Age: 43 Qualifications: LLB (Hons), DipLP, NP Career history: Biggart Baillie (partner), 2003-2008; Ledingham Chalmers, partner, 2008 to date.

Recent deals: Advising on renewable energy, carbon capture transportation and storage, environmental and power generation sectors.

Rod Hutchison

Position: Partner Qualifications: LLB (Hons), DipLP Career history: Joined Ledingham Chalmers in 2002; partner, 2011. Recent deals: Advising on equity participation (acting portfolio companies and management shareholders), drafting and adjusting contracts in the UK and international oil services sector, including framework agreements for the provision of goods and services, agency agreements, distribution agreements and confidentiality agreements; advising UK service companies on international aspects of their business; advising on acquisition and sale of shares and of businesses as going concerns; advising on company and partnership constitutional and corporate governance matters; and advising employers on the establishment of employee share schemes and on the registration, licensing and transfer of intellectual property rights.

David K Laing

Position: Consultant Age: 61 Qualifications: LLB, NP Career history: Appointed partner, 1978; managing partner, 19962000; senior partner/chairman, 2000-2011. Non-executive director: SeaEnergy plc, Workplace Chaplaincy Scotland.

Malcolm D Laing

Position: Partner, head of corporate Age: 58 Qualifications: MA, LLB Career history: Partner in C&PH Chalmers 1985, Ledingham Chalmers 1991. Recent deals: Handled several transactions primarily in oil and gas services, shipping and care sectors.

Jody B Mitchell

Position: Partner Age: 37 Qualifications: LLB, DipLP, NP Career history: Partner in Ledingham Chalmers, 2010.

Recent deals: Advice on transactions primarily in the oil and gas services and marine sectors; banking.

Peter Murray

Position: Partner Age: 42 Qualifications: LLP, DipLP, NP; Recommended: Legal 500 Career history: Partner in Ledingham Chalmers 2002 Recent deals: Sale of Sureclean to NRC (USA), Acquisition of The Orthodontic Clinic (UK); corporate restructuring for a global energy services business (USA based); a UK share acquisition for a Norwegian private equity-backed acquirer; group restructure and share acquisition (UK/Peru); group restructure of three family-owned construction companies (UK); demerger of a substantial transport business (UK).

Fiona E Neilson

Position: Partner Age: 51 Qualifications: LLB, DipLP, NP Career history: W&J Burness (associate); Boyds (partner); Ledingham Chalmers, partner, 1999. Recent deals: advising on transactions, including share and business sales/purchases, bank funding and equity investments in oil services/distribution, port services, renewable energy, biotechnology, IT, food and drink (incl. fish farming and whisky distilling), forestry, transport, motor dealership, tourism, banking and public (including economic development and education) sectors.

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LINDSAYS

Telephone: 0131 229 1212 Fax: 0131 229 5611 Email: mail@lindsays.co.uk Website: www.lindsays.co.uk Office locations: Edinburgh (head office), Glasgow, Dundee and North Berwick Deal types undertaken: Early stage/start-up; mergers and acquisitions/ disposals/ MBO/MBIs; refinancings; development finance; project finance; corporate recovery/ reconstruction; collaborations and joint ventures.

Lindsays is a full-service Scottish law firm with a highly experienced corporate finance team focusing on the SME/OMB sector. Its expertise includes mergers and acquisitions, MBOs, joint ventures, leveraged finance and venture capital, including raising equity and acquisition finance, plus specialised advice on university and research spin-outs. The team’s client base comprises companies, charities, public sector organisations, educational and financial institutions, and the team is particularly well known for work with high-growth technology businesses and university spin-out companies.

Alastair Keatinge

Position: Partner Age: 57 Qualifications: LLB Career history: Trained and worked with Dundas & Wilson, then Dorman Jeffrey and Balfour & Manson. Lindsays corporate and technology group, partner, 2003. Recent deals: Establishing social enterprises in a number of sectors,various sales/purchases of owner-managed business and SMEs with particular emphasis on the social enterprise, restaurant and retail sectors.

David Lindgren

Position: Partner Age: 52 Qualifications: MA, LLB Career history: Dundas & Wilson; McGrigor Donald; Cameron Markby Hewitt (London); Fyfe Ireland; Lindsays corporate and technology group, partner, 2005. Recent deals: Mergers, sales and acquisitions for private companies; acting for investors in investments and exits.

Alasdair Cummings

Position: Managing partner Age: 51 Qualifications: LLB, DipLP, dual qualified (England & Wales) Career history: Trained Lindsays, then Wilde Sapte, London; returned to Lindsays as partner, 1994; managing partner, January 2011. Recent deals: Merger of professional services business into national accountancy practice; general commercial advice; various legal opinion transactions for London and US instructing agents.

David Wood

Position: Partner and head of corporate and technology Age: 48 Qualifications: LLB, DipLP Career history: Paull & Williamsons, 1990; Dundas & Wilson, 1992; partner, 2001. Lindsays corporate and technology group, partner, 2004. Recent deals: A wide variety of acquisitions, spinouts, outsourcings and fundraisings.

Peter Tweedie

Position: Partner Age: 54 Qualifications: LLB, DipLP, NP Career history: Trained Murray Beith and Murray, 1982-1984; joined Shield & Kyd, 1984, partner since January 1986 – merged with Lindsays 2012, currently partner in Lindsays corporate and technology group. Recent deals: Various company and business sales, acquisitions and restructurings; company formations, regulation and management; partnership formation and advice and general commercial contract advice particularly focused on the retail, property, healthcare and leisure sectors.

MACDONALD HENDERSON SOLICITORS

Standard Buildings, 94 Hope Street, Glasgow G2 6PH Telephone: 0141 248 4957 Fax: 0141 248 8455 Email: db@macdonaldhenderson.co.uk Website: www.macdonaldhenderson.co.uk Office location: Glasgow Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/BIMBO; refinancing; development finance; corporate recovery/reconstruction; banking.

Since a management buy-out in early 2009, Macdonald Henderson has gone from strength to strength. Under robust new leadership, the firm has increased its turnover by a third, retained clients and built upon its reputation as a niche commercial law firm of choice – boasting expertise in corporate, commercial, litigation, corporate recovery,

CA MAGAZINE DECEMBER 2014

intellectual property and private client areas of practice. The firm confidently flies the flag for Scotland’s SME owner-managers and entrepreneurs. Macdonald Henderson has bucked the trend, recruiting from the industry’s largest firms and blending an exciting mix of young but experienced lawyers. Recognised for what the judging panel described as “a brilliant reinvention”, Macdonald Henderson swept the boards at the Law Awards in 2010 – winning Law Firm of the Year (under 50 fee earners) and Up and Coming Law Firm of the Year. The firm has built on this success and won “Lead Advisor” to Family Business at the Herald Family Business Awards in 2012 and 2013, in a national category open to all advisers (legal and otherwise) in Scotland.

David B Beveridge

Position: Managing director Age: 39 Qualifications: LLB (Hons), DipLP, NP Career history: Trainee, McGrigor Donald, Glasgow and London, 1997; corporate solicitor, Maclay Murray & Spens, Glasgow, 1999; Macdonald Henderson, associate, 2005, director, 2006, managing director, 2009 (to date). Recent deals: Investments – NetIDme (acting for Northern Edge; Cobalt Water Ltd (acting for the private investors); NES (North Electrical Services) Ltd (acting for the private investor); acquisitions (shares) – 2ci (acting for Euro Systems Scotland Ltd); Link Cable Assemblies (share buyback from UK Steel); Livingston Pizza Company (acquisition of Dominos franchise by CP Livi Ltd; Next Level Group Ltd (acquisition of minority), acquisitions (business & assets) – Munro Consulting (from Talent2) Disposals (shares) – Thomsons Coffee Company (minority buyout); Shering Weighing Ltd (to Precia-Molen UK); Quadscot Holdings Ltd (to Pressure Technologies plc); Peter D Stirling Group (to majority shareholders); management buyouts – AMG Group Ltd (acting for Cranew Ltd); Project Halcyon (MBO buyout of professional services firm); Project Clear View (multifunder MBO of construction sector supplier); estructuring – Westside Distribution Ltd; Welch Chemists Ltd; MJD & Sons Scaffolding Ltd; Black Environmental Services Ltd (demerger); Duncryne Ltd; Constance Care Ltd.

Ian Anderson

Position: Commercial property director Age: 40 Qualifications: LLB (Hons), DipLP, NP Career history: Trainee, assistant and associate at Dundas & Wilson; associate at Boyds/HBJ Gateley Wareing; director at Macdonald Henderson.

Recent deals: Security work – numerous commercial property transactions for various lenders including Barclays, Bank of Scotland, Royal Bank of Scotland and Clydesdale Bank. Leases – many commercial lease transactions involving office, retail and industrial space for clients such as Cameron Pinkerton, Craig Corporate, JP Mackie & Company Ltd, Thomson & Brown Solicitors, Kirkton Property, Rico Logistics, JC Peacock, and Mitchell Engineering. Lease management work – acting for various parties, including European Wellcare, PBR Leisure, Europharma, Failte Food, BLM Law, McLean Buchanan & Wilson, Wells & Co Jewellers and Mega Leisure. Sale/ purchase deals – for clients such as@sipp, Advanced Financial, Bogons Ltd, Campsie Glen Smokehouse Ltd, David Lindsay Architects, Emac Engineering, Oyster Homes, SDSM Properties, Wilson Developments, James Walker, Quadscot, Clydebank Developments and Westside Distribution. Insolvency property work – acting for various parties, including FRP Advisory, French Duncan and BDO.

Louise Hamilton

Position: Associate director Age: 32 Qualifications: LLB (Hons), DipLP, NP Career history: Macdonald Henderson, trainee, 2007; corporate solicitor, 2009; associate director, 2013 (to date).

Recent deals: Disposals (shares) – Quadscot Holdings Ltd (to Pressure Technologies plc); director/shareholder exit from Lambert Contracts Ltd (advising director/shareholder ); acquisitions (shares) – AMG Group Ltd MBO (acting for Cranew Ltd); acquisitions (business & assets) – Stuart Chemists (for JP Mackie & Company Ltd); Lombard Medical Technologies plc (Prestwick division) (for Culzean Medical Devices Ltd); inter-group transfer of business and assets for Munro Consulting Group Ltd; disposals (business & assets) JP Mackie Pharmacy, Sinclair Drive (for JP Mackie & Company Ltd); banking – Scottish aspects of assignation of debt between AIB Group (UK) plc and Helical Bar plc (acting for AIB Group (UK) plc); inter-group loan (acting for Daisi Group Ltd); Scottish aspects of loan facility provided by Ravelstone Holdings Ltd (acting for Ziggurat (Claremont Place) LLP); Scottish aspects of loan facility provided by Elkstone Reo Sarl (acting for Ziggurat (Brunswick Village) LLP).

David McGrory

MACLAY MURRAY & SPENS LLP

1 George Square, Glasgow G2 1AL Telephone: 0330 222 0050 Fax: 0330 222 0053 Email: lawyer@mms.co.uk Website: www.mms.co.uk Office locations: Aberdeen, Edinburgh, Glasgow, London Deal types: Early stage/start-up; acquisition/disposal; MBO/MBI/BIMBO; refinancing; development finance; PFI; corporate recovery/reconstruction; listing – AIM, UK stock exchange, overseas.

Maclay Murray & Spens LLP is one of Scotland’s largest independent law firms with offices in Aberdeen, Edinburgh, Glasgow and London. We are a full-service law firm, top ranked in nine categories in the most recent edition of The Legal 500. We act for a wide range of clients throughout the UK and beyond – public bodies, educational institutions, government, regulators, private individuals, partnerships, private companies and public limited companies.

Ian Lumsden

Position: Partner Age: 63 Qualifications: BA, LLB Career history: Qualified Maclay Murray & Spens, 1976; assistant, 1976; Slaughter & May, assistant, 1978; Maclay Murray & Spens, partner, 1980. Recent deals: Advising Weir Group on its £23m disposal of LGE Process, its £56m disposal of Strachan & Henshaw and other disposals and acquisitions; advising management of MB Aerospace on original buy-out, various acquisitions and disposals and secondary buy-out; advising shareholders of HiFX on its £145m disposal to Euronet worldwide Inc; involved in various investment trust transactions.

Susan Kelly

Position: Partner Age: 43 Qualifications: LLB, DipLP Career history: Qualified Maclay Murray & Spens, 1993; assistant solicitor, 1993; Bank of Scotland, secondment, 1994; associate, 1996-98; Maclay Murray & Spens, partner, 1998; head of banking and finance department, 2001; head of finance division, 2010. Member of Court, University of Strathclyde, 2014. Recent deals: Acting for BPI plc, John Menzies plc, Devro plc, and Baxters Food Group in their recent refinancings. Acting for Noumra in relation to funding Bestway’s acquisition of the Co-op pharmacies.

Michael Livingston

Position: Partner Age: 56 Recent deals: Advising Prudential on acquisition of Royal London annuity business; advising Mellon on acquisition of Walter Scott; advising Lloyds on various banking business transfer schemes; advising Prudential, Chesnara and Aberdeen on insurance business transfer schemes.

Kenneth Shand

Position: Chief executive Age: 54 Qualifications: LLB, DipLP Career history: Qualified, Maclay Murray & Spens, 1984; McKenna & Co, assistant, 1988; Maclay Murray & Spens, partner, 1989. Recent deals: Various projects for The Edrington Group, Baxters Food Group, National Tyre Services and Isle of Harris Distillers.

Iain Sutherland

Position: Partner Age: 43 Qualifications: LLB, DipLP Career history: Qualified McGrigor Donald, 1995; Henderson Boyd Jackson, 1996; Maclay Murray & Spens, 1999; Partner, 2003. Recent deals: Advising Indigo Pipelines on the acquisition of SSE Pipelines through the newly established Environmental Capital Fund which was set up by, and is managed by, Scottish Equity Partners; advising Energetics Networked Energy and its management shareholders on a refinancing of the group and equity investment by Macquarie Bank; and advising Scottish Equity Partners on its investments into Pure360 and Tryzens.

Brian Moore

Position: Partner Age: 39 Qualifications: LLB (Hons), DipLP; dual qualified Scotland and England Career history: Scottish Law Commission, 1996; qualified, Maclay Murray & Spens, 1999; partner, 2008; secondment to Clyde Blowers, 2005. Specialises in UK and international public and private M&A; corporate finance; restructurings; commercial contracts; joint ventures. Recent deals: Advising Superglass Holdings plc on three debt and equity refinancings valued at over £50m and its transfer to AIM; advising Robert Wiseman Dairies plc on £280m recommended takeover by Müller Dairies (UK) Ltd; advising First Milk Ltd on its long-term strategic partnership with Adams Foods Ltd.

Position: Partner Age: 39 Qualifications: LLB (Hons), DipLP, NP Career history: Joined Maclay Murray & Spens, 2001; senior solicitor, 2003; associate, 2005; head of venture capital, 2009; partner, 2010. David also serves as a non-executive director on the board of SPFL football club, Dundee United. Recent deals: Advising Scottish Equity Partners in relation to several investments including Media Ingenuity, Arkex, IndigoVision, WAYN, Skyscanner, Pure 360 and Tryzens; Scottish Enterprise on seed, co-investment and venture fund investments; MB Aerospace Holdings on the secondary buy-out by Arlington Capital and acquisition of Delta Industries; Aquamarine Power; and DySISmedical.

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David Young

Position: Partner Age: 38 Qualifications: University of Edinburgh, LLB (Hons), DipLP Career history: Qualified Maclay Murray & Spens, 2001; senior solicitor, 2004; associate 2007; partner, 2009.

Recent deals: Advising Dalmore Capital on the establishment of the c£500m Pension Infrastructure Platform PPP Equity fund and the completion of numerous investments for this fund; advising Railways Pension Scheme on a £440m investment in debt instruments structured through a Luxembourg SV; advising Aberdeen Asset Management on a number of private equity coinvestments alongside UK and EEA buyout funds using limited partnership and Luxco structures.

Andy Lowe

Position: Partner, Aberdeen Age: 44 Qualifications: BSc (Hons) Medical Science, LLB, DipLP; qualified in Scotland, England and Wales, states of Victoria and New South Wales in Australia; Advocate of the Royal Court of Guernsey.

Career history: Qualified Dickson Minto, 1998; Corrs Chambers Westgarth (Melbourne), 2000; Ogier (Guernsey), 2006; joined Aberdeen office of Maclay Murray & Spens as partner in 2013. Specialises in M&A, private equity, joint ventures, corporate restructures, capital raisings, investment funds and general corporate and commercial matters across a range of industry sectors, including food and drink, energy and resources, life sciences and biotechnology, transport and infrastructure and golf and leisure club establishment. Recent deals: Aberdeen Asset Management’s acquisition of SWIP from Lloyds Bank; Sale of AGR Group’s global petroleum services business to Silverfleet Capital; Cooke Aquaculture’s acquisition of Meridian Salmon from Marine Harvest. Acted for several other blue chip clients, including Baxters Food Group, Foster’s, Dana Petroleum, Waitrose, ANZ Bank and Troon Golf; also numerous smaller enterprises including family-owned businesses and early-stage biotechnology companies. Before turning to the law, pursued a medical career and holds a first-class honours degree in medical science.

Bill Fowler

Position: Partner Age: 46 Qualifications: LLB (Hons), DipLP, PG Cert (Distinction) oil and gas law, dual qualified English/Scots law Career history: MacRoberts, assistant/associate, 1992-2000; Kymata Ltd, corporate counsel, 2000-2001; Archibald, Campbell & Harley, partner, 2001-2005; Semple Fraser, partner, 2005- 2013; Maclay Murray & Spens, partner, 2013; 2014 tutor – oil and gas law, Robert Gordon University Law School. Recent deals: Secondment to Premier Oil plc’s London-based Falkland Islands Business Unit assisting with its 2015 Falklands Drilling Campaign and the Sea Lion Project. Advising a new entrant to the UK onshore shale oil and gas market on commercial arrangements with existing licence holders and participants in the 14th onshore licensing round. Advising Strathendrick Biogas on the development of a farm-based anaerobic digestion project. Advising Land Securities Group plc on the sale of the Overgate Shopping Centre, Dundee. Advising on multiple disposals of biomass and onshore wind projects.

Stuart Fitzsimmons

Position: Partner Age: 34 Qualifications: LLB, DipLP Career history: Qualified Maclay Murray & Spens, 2005; solicitor, 2005; Bank of Scotland, secondment, 2009; associate, 2010; Maclay Murray & Spens, partner, 2012. Recent deals: Acting for Aberdeen Private Equity Fund in connection with its acquisition banking facilities; acting for The Edinburgh Woollen Mill Group in connection with its banking facilities; acting for Muirden Energy and Triplepoint VCT in connection with various renewable energy investments; advising DVB Bank on the refinancing of facilities to Viking Supply Ships; and advising Biofilm Ltd in connection with facilities arranged with the Scottish Loan Fund.

Claire Armstrong

Position: Partner Age: 39 Qualifications: LLB (Hons), DipLP; dual qualified Scotland and England. Career history: qualified, Archibald Campbell & Harley WS, 2000; Biggart Baillie LLP 2001 – 2008; Fasken Martineau LLP, London, 2008-2010 (partner 2010); Maclay Murray & Spens LLP 2011, partner 2014. Specialises in UK and international DECEMBER 2014 CA MAGAZINE

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private M&A; private equity and venture capital; restructurings; commercial contracts; joint ventures. Recent deals: Advising Scottish Equity Partners LLP in relation to the acquisition of SSE Pipelines Ltd, one of the UK’s largest licensed independent gas transporters, by the Environmental Capital Fund for a total consideration of £52.7 million; advising First Milk Ltd on its long-term strategic partnership with Adams Foods Ltd; advising Energetics Networked Energy Ltd, a multi-utility service provider and asset owner, and its management shareholders on a refinancing of its group and equity investment by Macquarie Bank Ltd; advising Capsugel, a leading US manufacturer of empty and liquid-filled capsules in its acquisition of Encap Drug Delivery; advising global pharmaceutical Merck Sharpe & Dohme in the sale of its Research Facility at Newhouse, Scotland to BioCity Scotland Ltd and advising various VCs and growth companies on investment rounds.

MACROBERTS LLP

Capella, 60 York Street, Glasgow G2 8JX Telephone: 0141 303 1100 Fax: 0141 332 8886 Email: maildesk@macroberts.com Website: www.macroberts.com Office locations: Glasgow, Edinburgh, Dundee Deal types undertaken: All forms of merger and acquisitions (including MBO/MBI/ VIMBO/BIMBO); equity investment for investors and those looking to raise equity finance; refinancing; development finance; PPP/project finance; corporate recovery/ reconstruction.

MacRoberts LLP is one of Scotland’s leading full-service commercial law firms, with partners featuring consistently in Scotland’s Who’s Who. Established over 150 years ago, with three offices throughout Scotland, MacRoberts’ continued success is testament to its resilience and to the strength of its expertise and reputation. Clients include public and private companies, financial institutions, government and other public sector bodies and private individuals.

Alan Kelly

Position: Partner Age: 42 Qualifications: University of Glasgow 1993 LLB (Hons), 1994 DipLP Career history: Trained MacRoberts; qualified, 1996; partner, 2004.

Recent deals: Acting for the Scottish Government in the acquisition of Prestwick Airport from New Zealand-based infrastructure fund, Infratil; acting for Leven Car Company in the acquisition of the Rolls-Royce and Aston Martin franchise in Scotland.

Neil Kennedy

Position: Partner Age: 41 Qualifications: LLB (Hons) with French Law, DipLP Career history: Trained Paull & Williamsons, Aberdeen then MacRoberts LLP from 1999; partner, 2008. Recent deals: advising 360crm in its sale to Stericycle Inc, acting for MGW in its sale to Bellpenny, acting for Border Construction in its re-organisation and sale to Esh Construction.

David Wylie

Position: Partner Age: 34 Qualifications: LLB (Hons), DipLP Career history: Trained Harper Macleod, previously partner at CCW LLP; joined MacRoberts as partner in March 2012. Recent deals: Acting for the Pressurefab Group in various corporate acquisitions; acting for the Renaissance Care Group in acquisition of a portfolio of Care Homes from Argus Care; acting for Dick Brothers Ltd in the sale of their business to Azure Capital; acting for OCS Chemicals Ltd in the sale of their business to EXCIF Inc.

Norman Martin

Position: Partner Age: 49 Qualifications: LLB, DipLP Career history: Qualified McGrigor Donald, 1988; joined MacRoberts; assistant solicitor, 1988; associate, 1992; partner, 1994.

Recent deals: Acting as Scottish counsel for the Peel Ports Group on a number of financing exercises, for Trustees of Johnston Press Pension Scheme in group debt/equity refinancing, for HSBC in Highland Spring Ltd re-bank, for Jurys Hotel Group in refinance exercise and for Santander in refinance/new acquisition facilities to Bertram Nursery Group.

CA MAGAZINE DECEMBER 2014

Andrew Orr

Position: Partner Age: 48 Qualifications: LLB (Hons) Career history: Trained Alex Morrison & Co; qualified, 1992; associate, McGrigor Donald, 1993-2000; MacRoberts, partner, 2000.

Recent deals: Acting for the board in the project for the new Royal Hospital for Sick Children and department of Clinical Neurosciences, in Edinburgh; acting for bidders in the Edinburgh and Midlothian Residual Waste Treatment Project and the Clyde Valley Residual Waste Project; acting for a community group in wind turbine project financed by Triodos.

Alan Meek

Position: Partner, corporate recovery Age: 46 Qualifications: LLB (Hons), DipLP Career history: Trained Dickson Minto WS, qualified 1992; assistant at Paull & Williamsons and MacRoberts; HBJ Gateley Wareing, partner, 1998-2007; Macdonalds, partner, 2007-2009; MacRoberts, partner, 2009 to date.

Recent deals: Transactions include acting for administrators of Livingston Football Club Ltd, USC, Quiz and Mathon plc.

Ainsley MacLaren

Position: Partner, corporate tax Age: 41 Qualifications: LLB (Hons), DipLP, ATT, CTA Career history: KPMG, tax assistant; trained MacRoberts LLP; McGrigors LLP, senior associate; Deloitte LLP, senior tax manager; MacRoberts LLP, partner, 2008. Recent deals: Providing stamp taxes advice to Border Construction Group in its reorganisation; acting for Leven Car Company in the acquisition of the Rolls-Royce and Aston Martin franchise in Scotland; acting for Scottish Government in its acquisition of Prestwick Airport from Infratil, a New Zealandbased infrastructure firm .

Michael Murphy

Position: Consultant Qualifications: LLB (Hons) 1st Class, DipLP Career history: Qualified 1985, partner in MacRoberts since 1990, managing partner 2005-2011. Recent deals: Various acquisitions and joint ventures for the Denholm Group in the UK and Middle East.

Rod Munro

Position: Partner Age: 44 Qualifications: LLB (Hons), DLP, BCL (Oxon) Career history: Trained Maclay Murray & Spens, qualified, 1997; assistant Norton Rose, London 1997- 1998; assistant Burness, Edinburgh 1998 – 2001; associate Maclay Murray & Spens, Edinburgh, 2001- 2005; partner, MacLay Murray & Spens, Edinburgh 2005- 2014; partner, MacRoberts LLP 2014 – to date Recent deals: Advising bidders for the North Ayrshire NPD project and Inverness NPD projects; advising a developer on a project-financed biomass plant; advising on various project-financed hydro schemes.

Roddy Maclennan

Position: Partner Qualifications: LLB, NP Career history: Qualified 1981, partner Tods Murray, Edinburgh 1989-2014, partner, MacRoberts 2014 – to date Recent deals: Lone Star and Wells Fargo in the acquisition of the Eurohypo UK loan book; Bayern LB in the refinancing of the St James Shopping Centre, Edinburgh; RBS in the largest ever single real estate financing in Scotland; Goldman Sachs in the seven Tesco Property Finance joint venture sale and leaseback CMBS transactions; Deutsche Bank, Lloyds Banking Group and others in financing student accommodation at the Universities of Glasgow, Dundee and Queen Margaret Edinburgh and to the Unite Group; Westdeutsche Immobilienbank in financing prime property acquisitions; special servicers in the enforcement of security in CMBS and syndicated transactions involving UK and overseas companies including administration and receivership; Citibank, IBRC and Barclays Bank in a series of financings and restructurings of debt.

Austin Flynn

McCLURE NAISMITH LLP

292 St Vincent Street, Glasgow G2 5TQ Telephone: 0141 204 2700 Fax: 0141 248 3998 Email: corporate@mcclurenaismith.com Website: www.mcclurenaismith.com Office locations: Glasgow, Edinburgh, London Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/ BIMBO; refinancing; development finance; PFI/project finance; corporate recovery/ reconstruction; listing – AIM, UK stock exchange, overseas.

A commercial law firm focused on achieving results for clients, McClure Naismith is one of few Scottish firms with a genuine UK and London presence. The firm has experience across many industry sectors with particular strength in corporate, financial services, banking, property, construction, renewables, food and drink, IT, public and hotel and leisure sectors.

Robin Shannan

Position: Executive chairman, partner Age: 62 Qualifications: MA LLB Career history: With McClure Naismith since 1977; partner since 1982. Recent deals: Advising Infratil on sale of Prestwick Airport to The Scottish Government and sale of Manston Airport to Ann Gloag (co-founder, Stagecoach Group ), advising United Spirits on Scottish aspects of a refinancing of Whyte & Mackay in advance of £430m sale by United Spirits of Whyte & Mackay to Emperador.

Colin Millar

Position: Partner Age: 47 Qualifications: LLB (Hons) Career history: Partner, McClure Naismith, 2002 Recent deals: Advising Outreach Ltd on its acquisition of Tech Safe Systems and Haven Products Ltd on its acquisition of The Sign Factory; ongoing commercial advice to key clients, including Whyte & Mackay and Golden Charter; advice to a range of clients on shareholder and governance issues.

Position: Partner and head of corporate division Qualifications: LLB (Hons), London University, 1989; Law Society Finals: College of Law, York, 1990; dual qualified as a solicitor in Scotland (1999) and England (1992) Career history: 1990-1993, trainee and then assistant solicitor, Dickinson Dees; 1993-1997, senior solicitor, Ward Hadaway; 19972001, senior solicitor and then associate, Dundas & Wilson CS; 2001-2005, associate and then partner, Murray Beith Murray WS; 2005 to date, partner, Morton Fraser LLP. Recent deals: Advising MGB Biopharma Ltd on a further funding of £2.7m from existing investors Archangel Informal Investment, Tri-Cap, Barwell and SE-CIF; advising Sunamp Ltd on a funding of £400,000 from existing investors including SE; advising on the sale of the retail division of a long-established familyowned group pf companies; advising the winners of Converge Challenge 2013 on spinning out and securing initial investment from institutional investors.

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Joyce White

Position: Partner Career history: 1981-1983, trainee solicitor, Dorman Jeffrey; 1983-1985, solicitor, Dorman Jeffrey; 1985-1986, solicitor, Bank of Scotland; 1986-1987, solicitor, Peterkins; 1987- 1991, partner, MacDonald-White; 1991-2013, partner, Macdonalds; 2013 to date, partner, Morton Fraser. Recent deals: Advising sellers on sale of group of companies operating call centres (N/D >£10m); advising seller on sale of subsidiarycompany operating shopping arcade(£N/D); advising textile group on reconstruction and demerger of part of group.; advising exiting shareholders in second round MBO .

Iain Young

Position: Consultant Qualifications: LLB (Joint Hons in English and German Law), University of East Anglia, 1988; Law Society Finals: College of Law, Chester, 1989; dual qualified as a solicitor in Scotland (2006) and England (1991) Career history: 1989 to 1996, articled clerk then solicitor, S J Berwin & Co; 1996 to 2001, associate then partner, Eversheds LLP London; 2001 to 2004, partner and head of private equity, Tite & Lewis; 2004 to 2009, partner, Brodies LLP; 2009 to date, consultant, Morton Fraser.

Recent deals: Advising a professional services firm on a refinancing and balance sheet restructuring, including sale of a division; advising on the sale of a media business from administration; advising on investment into an aviation services company; advising on debt and equity funding for a major construction project.

Scott Kerr

Position: Partner Age: 51 Qualifications: LLB(Hons) Career history: Partner, McClure Naismith, 2013 Recent deals: Sale of DKL Metals; Investment into Insignia Technologies; Acquisition of Scottish Coal assets by Scot Coal Energy; Equity and Finance raising for Ziggurat Group.

Phillip Rees

Position: Consultant Age: 53 Qualifications: BA MBCS Career history: Head of legal for Citigroup’s operations/technology and privacy functions, Europe, head of commercial/TMT and privacy in EMEA for the US law firm McGuire Woods, consultant with McClure Naismith since 2014. Recent deals: Advising Capita on the structuring of outsourced insurance administration services to the Phoenix Group.

Advising JP Morgan on international data protection and privacy compliance policies in the AsiaPac region, advising a global investment bank on the development of an automated post transaction contract management solution for custody services.

MORTON FRASER LLP

Telephone: 0131 247 1000 Fax: 0131 247 1007 Email: info@morton-fraser.com Website: www.morton-fraser.com Office locations: Edinburgh and Glasgow Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/ BIMBO; refinancing; development finance; PFI/project finance; corporate recovery/ reconstruction; listing – AIM, UK stock exchange, overseas.

Morton Fraser is a full-service law firm combining leading commercial law and private client practices with a strong presence in both the Glasgow and Edinburgh markets.

The firm prides itself on the renowned quality of client service it provides and on completing deals on time and on budget. Morton Fraser’s corporate team regularly advises on mid-market and smaller M&A work as well as advising companies securing private equity investment or debt funding, business angel syndicates, and venture capital funds on structuring and completing investments. The firm also has a recognised strength in advising on complex restructurings and distressed situations.

PINSENT MASONS LLP

141 Bothwell Street, Glasgow G2 7EQ Telephone: 0141 249 5480 Fax: 0141 248 6655 Website: www.pinsentmasons.com Office locations: Aberdeen, Edinburgh, Glasgow Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/BIMBO; refinancing; development finance; early PFI/project finance; corporate recovery/ reconstruction; listing – AIM, UK stock exchange, overseas.

Pinsent Masons LLP offers a complete range of corporate legal services for a wide international client base and has a reputation for excellent technical advice, coupled with genuine business and commercial acumen. Bringing together specialists in corporate finance, private equity and equity capital markets, the group allows our clients to benefit from a multidisciplinary approach through a single team. We have ranked in the top 10 of legal advisers to UK public listed companies for a number of years, reflecting our extensive work with companies in the FTSE 100 and 250; we are ranked number one legal adviser to AIM-listed clients; number one legal adviser to FTSE AIM 100 clients; number one legal adviser to FTSE AIM UK 50 clients and number two legal adviser to all stock market companies (all adviser rankings July 2014).

Anna Brown

Position: Partner Age: 47 Qualifications: LLB (Hons), DipLP Career history: Pinsent Masons, 1988-present; partner, 1997.

Recent deals: Advising Epistem Holdings plc on its $8m collaboration and convertible bond purchase agreement with Global Health Investment Fund 1 LLC; advising Craneware plc on its acquisition of Kestros Ltd; advising Metroic Ltd in the up to $7m sale of the whole of the share capital of Metroic Ltd. DECEMBER 2014 CA MAGAZINE

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Rosalie Chadwick

Position: Partner Age: 36 Qualifications: LLB (Hons), DipLP Career history: Pinsent Masons, 2000-present; partner, 2008.

Seconded to CanArgo Energy 2003- 2004 and West Coast Capital 2007-2008. Recent deals: Advising on the acquisition of the entire issued share capital of John Watson (Holdings) Ltd by MCC Scotland Holdings; advising on the £7m investment by BGF Investments LP in Mono Global Group Ltd; advising on the £3.5m equity and loan investment by various VCTs and other vehicles managed by Maven Capital Partners UK in D Mack Ltd.

Roger Connon

Position: Partner Age: 55 Qualifications: BA, LLB, DipLP Career history: Partner with Pinsent Masons. Recent deals: Advising Nigerian group Jagal Ltd on a number of joint ventures, notably one with Rotterdam-based Smit Lamnalco for the provision of heavy towage services to the oil and gas industry in Nigeria with annual revenues of $150m; one of the partners advising Norwegian company Wintershall on the sale of 14 UKCS licenses for $375m to MOL Group from Hungary.

Kevin Devanny

Position: Partner Age: 44 Qualifications: LLB (Hons), DipLP Career history: Pinsent Masons, 1996-present; partner, 2006.

Recent deals: Advising DP Marine Energy Ltd on the acquisition of SSE’s SPV company, Westray South Tidal Development Ltd; advising Objective Associates Ltd on the supplementary investment by Scottish Enterprise and new ESM Investors.

David McEwing

Position: Partner Age: 47 Qualifications: LLB (Hons), DipLP, NP Career history: Pinsent Masons, 2010-present; Raeburn Christie Clark & Wallace, partner. Recent deals: Advising Wintershall Norge AS on the divestment of shares in selected assets on the UK continental shelf to MOL Group for base consideration of $375m; advising Sparrows Group on acquisition of Servtech Group.

John Rutherford

Position: Partner Age: 56 Qualifications: LLB (Hons), NP Career history: Pinsent Masons, 2006-present; Ledingham Chalmers, 1988-2006; Paull & Williamsons, 1980-1988. Recent deals: Advising the shareholders of OSCA Environmental Ltd in the £10m sale to OEG Group; advising a major oil and gas drilling company in the disposal of various assets.

Derek Stroud

Position: Partner Age: 47 Qualifications: LLB, DipLP Career history: Pinsent Masons, 2001-present; Dickson Minto, 1997-2001; Neill Clerk Capital, 1992-1997; Clark & Wallace, 19901992. Recent deals: Advising Aker Solutions ASA on the UK aspects of its £2.4bn demerger to form two independent companies each quoted on the Oslo Bors; advising Strathclyde Pension Fund on its commitment of £50m to the Pension Infrastructure Platform LP; advising Hong Kong-based Bricks Capital on the acquisition of a number of companies with student accommodation development projects.

Alan Diamond

Position: Partner Age: 43 Qualifications: LLB (Hons), DipLP Career history: Pinsent Masons, 1994-present; partner, 2005.

Recent deals: Advising Dart Energy Ltd on its £70m merger with IGas Energy plc; advising Skyscanner on its acquisition of Reacher Investments Ltd (t/a Youbibi); advising National Accident Helpline Group plc on its £82.3m IPO on AIM.

Martin Ewan

Position: Partner Age: 39 Qualifications: LLB (Hons), DipLP, LLM, MA, BSc, MSc, notary public in Scotland Career history: Pinsent Masons, 2006-present; partner 2008; Ledingham Chalmers, 1999-2006. Recent deals: Advising several listed oil and gas exploration and production companies in relation to corporate restructuring and major strategic contractual issues; assigned to KCA Deutag Drilling Group as general counsel providing support on a range of legal matters including corporate disposals and joint ventures.

Graeme Fyfe

Position: Legal director Age: 44 Qualifications: LLB (Hons), DipLP Career history: Pinsent Masons, 2006-present; Dundas & Wilson CS, 1997-2005; Peterkins, 1993-1997. Recent deals: Advising Coventry City Council on the sale of its interest in the Ricoh Arena to leading international rugby club Wasps; advising Balfour Beatty on the sale of 100% of its interest in the Knowsley Building Schools for the Future project to PPDI AssetCo Ltd.

Jonathan Kirkwood

Position: Legal director Age: 41 Qualifications: LLB (Hons), DipLP, QLTT Career history: Pinsent Masons, 2009-present; Edinburgh Research and Innovation Ltd, 2008-2009; Semple Fraser LLP, 2003-2008; Lewis Silkin, 1999-2003; McGrigors, 1997-1999.

Recent deals: Advising Edinburgh Research and Innovation Ltd (University of Edinburgh) in respect of the spin-out of Edinburgh Molecular Imaging Ltd and subsequent first-round investment; advising Nigerian group Jagal Ltd on a number of joint ventures, notably one with Rotterdam-based Smit Lamnalco for the provision of heavy towage services to the oil and gas industry in Nigeria with annual revenues of $150m; advising Wood Group on the acquisition of Pyeroy Group Ltd; advising Red Wing Shoe Company Inc on the acquisition of K&L Ross Ltd.

Barry McCaig

Position: Partner and head of Glasgow office Age: 40 Qualifications: LLB (Hons), DipLP Career history: Pinsent Masons, 2000-present; partner, 2006. Recent deals: Advising Blue Water Energy LLP on its investment in new $500m exploration and production business, Siccar Point Energy; advising UK Green Investment Bank on the £74m investment in a green energy plant at the Macallan distillery in Speyside; advising Sun Capital and TDR Capital on the £400m secondary buy-out of the Keepmoat Group; advising Nevis Capital on the disposals of Apex Generators Ltd and Microspring and Presswork Ltd. CA MAGAZINE DECEMBER 2014

SHEPHERD AND WEDDERBURN LLP

1 Exchange Crescent, Conference Square, Edinburgh EH3 8UL Telephone: 0131 228 9900 Fax: 0131 228 1222 Email: info@shepwedd.co.uk Website: www.shepwedd.co.uk Office locations: Edinburgh, Glasgow, Aberdeen, London Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/ BIMBO; refinancing; development finance; PFI/project finance; corporate recovery/ reconstruction; listing – AIM, UK stock exchange, overseas.

Shepherd and Wedderburn is a leading UK law firm. With 81 partners and over 400 staff, the firm acts for corporate, commercial, public sector and private clients throughout the UK and abroad. Its impressive and expanding client base includes not only household-name organisations but also small and medium-sized enterprises based throughout the UK.

Andrew Blain

Position: Head of corporate Qualifications: LLB (Hons) Career history: Shepherd and Wedderburn, assistant 1991, associate 1995, partner 1996; Dunedin Property, director 2006; Shepherd and Wedderburn, partner 2007. Recent deals: Acting for Scarborough Property Group in the establishment of a major residential development joint venture with Top Spring International and Metro Holdings; acting for iomart group plc on the acquisitions of Backup Technology Holdings Ltd and Redstation Ltd; acting for The Miller Group Ltd on its scheme of arrangement and reduction of capital.

Patrick Bell

Position: Finance and restructuring partner Qualifications: English qualified Career history: Linklaters; McClure Naismith; Shepherd and Wedderburn, partner, 2007. Recent deals: Acting for the Glasgow Learning Quarter consortium, led by Sir Robert McAlpine, in the project financing of the £228m City of Glasgow College citycentre campus NPD project with senior debt provided by Helaba, KfW and EIB; advising Genius Foods, the gluten-free baking business, on the acquisition financing, provided by HSBC, of two businesses from Finsbury Foods plc; and advising LBG and HSBC on the £80m senior debt refinancing for the coach and bus manufacturer, the Alexander Dennis Group.

Walter Blake

Position: Corporate partner Qualifications: LLB, Dipl P Career history: Shepherd and Wedderburn, assistant 1995; associate 1999; partner 2001. Recent deals: Advising investment banks including Numis Securities, Canaccord Genuity, RFC Ambrian and others on equity capital markets work, M&A, and corporate, private equity; advising a range of public and private companies.

George Boyle

Position: Corporate partner Qualifications: LLB (Hons), Dipl P Career history: Shepherd and Wedderburn, partner since 1998.

Recent deals: Acting for Scottish Enterprise (REIF) in all aspects of its investment (into SPV Meygen Ltd) alongside others in world’s first commercial tidal array offshore energy project (equity and debt from REIF) as part of complex project finance c£50m deal; acting for Australia-based Clough in its first European acquisition of the shares of Booth Welsh Automation; advising (separately) shareholders of (i) Labelgraphics and (ii) John Watson Holdings Ltd, in share sales to NYSE-listed Multi Color Corporation.

Fiona M Buchanan

Position: Finance and restructuring partner Qualifications: LLB (Hons), Dipl P Career history: Tods Murray, partner 2005.

Shepherd and Wedderburn, partner 2014. Recent deals: Acting on behalf of a US investment fund in relation to the acquisition of a portfolio of distressed commercial mortgages from Lloyds Banking Group; acting on behalf of Santander UK plc in relation to amendments to its €35bn covered bond programme; acting on behalf of Travis Perkins plc in relation to the Scottish aspects of its 2014 bond issue.

Rodger Cairns

Position: Employee share schemes partner Qualifications: LLB (Hons), Dipl P, Association of Taxation Technicians Career history: McGrigors; Ernst & Young (head of performance and reward practice in Scotland and Northern Ireland); Shepherd and Wedderburn, partner 2007. Recent deals: Advising on design, implementation and administration of share incentive arrangements for a broad range of clients, including Cairn Energy, Alliance Trust, Robert Wiseman Dairies, Ricardo, Bowleven, IndigoVision, Axis-Shield and F&C Asset Management; advising on a range of other executive compensation issues.

Clare Foster

Position: Finance and restructuring partner Qualifications: LLB (Hons), dual qualified Career history: Pinsent Masons, partner, head of banking and finance team, Scotland; Shepherd and Wedderburn, partner 2012. Recent deals: Advising funder on tidal array renewables project, advising on a number of onshore wind farm deals (comprising a variety of deal types including corporate acquisition, refinancing, IPO and new project finance); currently advising senior creditors in relation to a major Scottish roads project.

George Frier

Position: Corporate partner Qualifications: LLB (Hons), Dipl P Career history: McClure Naismith, partner 1994; Shepherd and Wedderburn, partner 2012. Recent deals: BOC Ltd, groundbreaking strategic venture with Aberdeen City Council backed by SSE, SE and others to build electrolysers for new hydrogen-powered bus fleet; Plexus Corp (US) inc; reorganisation of UK and Romanian subsidiaries, Dalziel Ltd; acquisition of Rillatech Ltd; liquidation of Bladnoch Distillery acting for liquidators; new £70m asset-backed lending facility for GAP Group Ltd.

Jack Gardiner

Position: Corporate partner Qualifications: LLB (Hons) Career history: Bird Semple & Crawford Herron (thereafter Bird Semple), partner 1984; DLA Piper, partner 2000; Tods Murray, partner 2005; Shepherd and Wedderburn, partner 2014. Recent deals: Acting for Probe Holdings Inc on the acquisition of Isle Tools Ltd; Acting for Howco Group plc on the acquisition of Zoltan Engineering Company Ltd.

Paul Hally

Position: Chairman, corporate partner, head of finance and restructuring Qualifications: LLB, Dipl P Career history: Shepherd and Wedderburn, assistant 1984, partner 1987 to date, chief executive 1999-2004; founder director and secretary of World Services Group 2001-2004; non-executive director of Scottish Financial Enterprise 2005-11; member of ICAS business policy committee. Recent deals: Restructuring of Kilmarnock Football Club; acted for Cairn Energy in its US$43m sale of interests in the Mariner heavy oilfield to Dyas UK. Reporter to the Court of Session on all Project Verde schemes.

Malcolm Holmes

Position: Corporate partner Qualifications: MA (Hons); LLB; DiplP Career history: Tods Murray 1998, partner 2002; Shepherd and Wedderburn, partner 2014. Recent deals: Advising the Hoseasons Group Ltd (which is part of the Wyndham Group) on the acquisition of the entire issued share capital of Cumbrian Cottages Ltd; advising shareholders of Speyside Distillers Company Ltd on the sale of entire issued share capital of the company.

Andrew Kinnes

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Position: Finance and restructuring partner Qualifications: LLB (Hons), Dipl P, dual qualified Career history: Shepherd and Wedderburn, associate 1997, partner, 2001. Recent deals: Acting on behalf of the borrower and borrower manager in connection with a £129m commercial mortgage-backed bond issue, the proceeds of which were used to fund the development of the BBC’s new Scottish headquarters at Pacific Quay, Glasgow.

Philip Knowles

Position: Corporate and finance and restructuring partner Qualifications: LLB (Hons), Dipl P Career history: Shepherd and Wedderburn, 1999, partner 2008. Recent deals: Acting for Sheffield United plc in relation to the investment in the holding company of the Sheffield United Football Club by Prince Abdullah Bin Mosaad bin Abdulaziz al Saud; acting for the shareholders of Ad-X Ltd in the sale of their shares to Criteo SA; acting for TJAC in relation to a £38m refinancing of two development properties in London and Cambridge.

Danny Lee

Position: Corporate partner Qualifications: LLB (Hons), Dipl P; Career history: Shepherd and Wedderburn, 2005, partner 2007.

Recent deals: Acted for William Grant & Sons in the acquisition of Drambuie Ltd; acting for a range of clients in connection with M&A transactions, joint ventures and restructurings, including ScottishPower, BSW Timber, Vattenfall, Statkraft, Genius Foods, Green Highland Renewables and PNE Wind.

Colin McKay

Position: Finance and restructuring partner Qualifications: Dual qualified Career history: Shepherd and Wedderburn, partner 2013.

Recent deals: Working for Amber Green SPRUCE on the financing of a series of real estate developments and the financing of certain enabling works at the Haymarket development, Edinburgh.

Rod MacLeod

Position: Finance and restructuring partner Qualifications: LLB (Hons), Dipl P, MSc. Career history: Tods Murray, partner 2012; Shepherd and Wedderburn, partner 2014. Recent deals: Acting for JP Morgan on the Scottish aspects of £2.4bn issuance of RMBS notes by Slate No.1 plc and £400m issuance of RMBS notes by Slate No.2 plc; advising RBS on the Scottish limited partnership vehicle used to secure £1bn facility used to provide finance for the pension funds of a global travel company.

Fiona Paterson

Position: Finance and restructuring partner Qualifications: LLB (Hons), CPE, LPC, dual qualified Career history: Freshfields Bruckhaus Deringer, 2000, senior associate 2005; Shepherd and Wedderburn, 2006, partner 2008. Recent deals: Acting for the administrators of Semple Fraser; advising the liquidators of Heather Capital; advising various banks and other lenders in relation to financially distressed customers.

Hamish Patrick

Position: Finance and restructuring partner Qualifications: LLB (Hons), Dipl P, PhD (cross-border securities/insolvency) Career history: Tods Murray, partner 1992; Shepherd and Wedderburn, partner 2014. Recent deals: Acted for Integrated Dental Holdings on £400m listed bonds and £100m super senior revolving facility with shared security; GMAC on £480m E-Carat 4 listed auto securitisation (and previous 3); clearing bank on new corporate account netting system; trustee on debt-backed limited partnership structure addressing major pension deficit.

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Stephen Trombala

Position: Corporate partner Qualifications: LLB, Dipl P Career history: Henderson Boyd Jackson; McGrigor Donald; Orbital Software Holdings; IndigoVision Group; Shepherd and Wedderburn, 2002, partner 2005. Recent deals: Acting for Nautical Petroleum and Agora Oil & Gas in their US$182m farmout of a 10% interest in the Catcher oil field development and Greater Catcher area, UKCS; acting for Cairn Energy in its US$43m sale of interests in the Mariner heavy oilfield, UKCS; acting for Bowleven plc in its US$250m conditional sale of an aggregate 50%-operated interest in the Etinde Permit, Cameroon; and acting for FanDuel on US$70m series D financing.

Iain Wishart

Position: Finance and restructuring partner Qualifications: LLB (Hons), Dipl P , MSc Career history: Tods Murray; Clifford Chance; Barclays Bank; Shepherd and Wedderburn, partner 2014.

Recent deals: Acting in the acquisition of a number of large hotel and leisure chains; funding of an offshore wind farm; syndicated facilities to a large technology company and three of the largest loan-book sales of recent years.

Michael Wylie

Position: Corporate partner Qualifications: MA(Hons), CPE, LPC Career history: Shepherd and Wedderburn, 2004, partner 2007. Recent deals: Acted for Wolfson Microelectronics plc on its £291m recommended takeover by Cirrus Logic Inc; acted for F&C Asset Management plc on its £708m recommended takeover by a wholly owned subsidiary of Bank of Montreal; advising various investment companies on AIFMD implementation matters; acted for Big Society Capital Ltd in its £8m investment in a new social growth fund; acted for Goals Soccer Centres plc in relation to its £11.4m placing of new ordinary shares by way of an accelerated bookbuild; continuing corporate advice to Nuclear Liabilities Fund; advising Chivas/Allied Domecq on a range of corporate matters; providing UK legal advice to Canadaheadquartered Vector Aerospace.

Ewan Neilson

Position: Partner, head of energy team Age: 55 Qualifications: BSc (Econ), dual qualified in England/Scotland Career history: Worked in City of London and Aberdeen in energy, corporate finance and banking. Acting for a variety of energy companies on corporate finance and other energy and technology-related deals.

Acquisition of ATP Oil & Gas (UK) Ltd through Chapter 11, USA, and creditors voluntary arrangement in the UK ($1.5bn).

Neil Forbes

Position: Partner, head of corporate department: Age: 43 Qualifications: LLB (Hons), DipLP Career history: Joined Stronachs LLP as trainee 1993; partner in corporate department 2001, head of corporate department 2013. Areas of practice are primarily acquisitions, disposals, MBOs and equity investments.

James Downie

Position: Partner Age: 43 Qualifications: LLB (Hons), DipLP, dual qualified Career history: Joined Stronachs as trainee 1993, corporate assistant 1995, associate 1998, partner 2001. Areas of practice: upstream oil and gas transactions, acquisitions and disposals, field developments, decommissioning security arrangements, farm-ins, transportation and processing agreements and product sales agreements.

Malcolm Donald

Position: Partner Age: 36 Qualifications: LLB (Hons), DipLP Career history: Joined Stronachs LLP as a trainee in 2000, partner in corporate department 2009. Areas of practice: corporate and corporate finance work, including acquisitions and disposals, private equity, banking, IP/technology and IT and energy work.

THORNTONS LAW LLP

Telephone: 01382 229111 Fax: 01382 202288 Email: dundee@thorntons-law.co.uk Website: www.thorntons-law.co.uk Office locations: Anstruther, Arbroath, Cupar, Dundee, Edinburgh, Forfar, Perth and St Andrews Deal types: Early stage/start-up; acquisition/disposal; MBO/MBI/BIMBO; refinancing; development finance; corporate recovery/reconstruction;

STRONACHS LLP

34 Albyn Place, Aberdeen AB10 1FW Telephone: 01224 845845 Fax: 01224 845800 Email: info@stronachs.com Website: www.stronachs.com Office locations: Aberdeen, Inverness Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/ BIMBO; refinancing; development finance; PFI/project finance; corporate recovery/ reconstruction; listing – AIM, UK stock exchange, overseas.

Stronachs LLP is one of the largest independently owned and managed law firms in the north-east of Scotland, with offices in Aberdeen and Inverness. Focusing on corporate and commercial law, including mergers, funding and employment, it has one of the strongest oil and gas teams in the country, and also provides private client services. As well as upstream oil and gas companies, the firm advises many service sector companies and businesses that are connected with the energy sector, such as technology development, renewables and supply chain. The firm also represents a number of private equity funds providing investment, mainly to the energy sector. Current clients include Aurora Petroleum Ltd, Bibby Offshore, DOF Subsea AS, Enovation Resources Ltd, Geoprober, Global Energy Holdings Ltd, Scopus Engineering Ltd, UTEC International Ltd, The Urquhart Partnership and Xodus Group Ltd.

David Rennie

Position: Managing partner Age: 61 Qualifications: LLB Career history: Qualified in 1976, joined Stronachs in 1997, head of corporate department 2000, managing partner 2003. He deals primarily with corporate acquisitions/disposals, equity investment and banking.

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Following their merger, the combined corporate and IP units of Thorntons and Murray Donald will total almost 20 lawyers. The past year has seen us complete a number of high-value exits, including three to private equity purchasers. Alistair Lang is particularly active in the early-stage investment space, and was closely involved in the creation of the new EOS Technology Investment Syndicate based in St Andrews.

Within the social housing sector, we continue to be at the cutting edge of funding advice, including accessing the debt capital markets in the case of Hillcrest Housing Association’s facility from GB Social Housing.

Chris Allan

Position: Partner Age: 39 Qualifications: LLB, DipLP, SII Cert in corp finance, dual qualified Scotland/England and Wales Career history: Young & Partners (20002003), Thorntons (2003-present) Recent deals: Acted for selling shareholders in RMEC and RMEC Rentals Ltd in sale to Maven Capital Partners for £14m-plus.

Acted for the seller of Fostering Relations Limited in its sale to National Fostering Agency group (part-owned by Graphite Capital).

Alistair Lang

Position: Partner Age: 41 Qualifications: LLB (Hons), DipLP Career history: Burness (2000-2003), Murray Donald (2003-merger with Thorntons). Recent deals: Acted for various technology and high-growth businesses in seed investment rounds, through to series A and B rounds, including ADUS DeepOcean, Cyberhawk Innovations, Tom Morris International, Castle Stuart Golf and Intelligent Growth Solutions. Advised St Andrews Links on its worldwide brand protection and exploitation strategy, including international licence arrangements with organisations such as Allianz, Rolex, Callaway Golf and Brooks Brothers.

Vikki Long

Position: Associate (banking) Age: 38 Qualifications: LLB (Hons), DipLP Career history: Burness (2000-2009), Thorntons (2012-present) Recent deals: Acted for Hillcrest Housing Association in its £33.4m funding package from GB Social Housing plc.

WRIGHT, JOHNSTON & MACKENZIE LLP

302 St Vincent Street, Glasgow G2 5RZ Telephone: 0141 248 3434 Fax: 0141 221 1226 Email: corporate@wjm.co.uk Website: www.wjm.co.uk Office locations: Glasgow, Edinburgh, Inverness Deal types: Early stage/start-up; acquisition/disposal; MBO/MBI/BIMBO; refinancing; development finance; private equity; corporate recovery/reconstruction; looking after business owners, their businesses and their families.

WJM is a full-service independent law firm. Our purpose is to help our clients achieve what they want to achieve and we’re uniquely client-centric in everything we do. We don’t just execute specialist tasks – we also aspire to anticipate and articulate what our clients need and then offer them practical advice. Our corporate team has a breadth and depth of experience across the field of corporate and commercial work. We specialise in particular in advising: high- growth SMEs and their investors; franchisors and franchisees; owner-managed businesses; family businesses; renewable energy projects; and employee-owned businesses or businesses transferring to employee ownership.

Graham Bell

Position: Partner Age: 51 Qualifications: LLB (Hons), Law Society-accredited specialist in insolvency Career history: Bird Semple & Crawford Herron, 1985; WJM, from 1987.

Recent deals: £6m share purchase and then sale (fish farm company), £5m share purchase (property company), £2m shares sale (nursing home company and a family business), £3m share purchase (book wholesalers in England), £3.5m restructure of family business (construction), administration of a company with 100 outlets (advising the directors and then the business purchaser), sports and music festival-sponsorship agreements; sale and purchase of a number of companies across a wide range of industrial sectors; corporate reconstructions following administration.

YOUNG & PARTNERS LLP

Telephone: 01383 721621 Fax: 01383 722080 Email: enquiries@businesslaw.co.uk Website: www.businesslaw.co.uk Office locations: Dunfermline and Glasgow Deal types: Early stage/start-up; acquisition/disposal; MBO/MBI/BIMBO; refinancing; development finance; corporate recovery/reconstruction, dispute resolution.

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Young & Partners are business lawyers for businesspeople. We help start up, spin out, grow and sell businesses. We have moved with the times and offer a dynamic commercial law firm that makes a difference to your business life regularly through expert knowledge, commercial advice and outstanding client care. We are proud to work with clients across all industry sectors and all sizes, from sole traders to multinationals. We continue to adapt our products and services accordingly, to enable us to continue to help our clients grow in line with emerging opportunities and challenges.

Angus McGuire

Position: Consultant Age: 40 Qualifications: Solicitor, NP, LLB, MSc (IT) Career history: assistant, Ledingham Chalmers; associate, MBM Commercial; consultant, Young & Partners LLP Recent deals: Multiple investments by London based VCTs in Green Highland Renewables Ltd for the development of small scale hydro schemes; investment in talkholiday (travel themed social media company in Glasgow); restructuring of Fife based engineering company; advising early stage companies on SEIS/EIS fundraising and crowdfunding

Angus MacLeod

Position: Partner Age: 39 Qualifications: LLB (Hons), MA, DipIT and telecoms law Career history: WJM from 1998.

Recent deals: Acquisition of several renewable energy SPVs; structure/financing advice to community wind farm; corporate and commercial advice to two higher education institutions; intellectual property and contract advice to broadcast-sector NGO; various international sales, distribution and agency deals; intellectual property and contract advice to packaging sector plc; contract advice to Scotland-listed plc in gas and electricity market; resolution of trade mark dispute (food and drink sector); patent and trade mark licences; various startups and resales of franchised businesses.

Ken Long

Position: Partner Age: 50 Qualifications: LLB Career history: WJM from 1995. Recent deals: Advising UK’s leading packaging firm (Macfarlane Group plc) on two acquisitions; advising Scottish tidal technology company on £5m investment from Swiss and Norwegian investors and REIF; advising client on its latest placing and open offer on AIM; advising and preparing Scottish client for listing on the Aktie Torget market in Sweden; advising Equity Gap and Gabriel Investments, business angel syndicates on their recent investments. .

Susan Hoyle

Position: Partner Qualifications: LLB (Hons), member of Chartered Institute of Taxation Career history: Dundas & Wilson, 2002; WJM, from 2008. Recent deals: Advising on tax aspects of corporate and property transactions, vendor tax planning, EIS investments, private equity deals and employee share incentives.

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Gary Anderson

BARCLAYS CORPORATE BANKING

Telephone: 0131 470 6200 Fax: 0131 470 6241 Email: ally.scott@barclays.com Website: www.barclays.com/corporatebanking Office locations: Edinburgh, Glasgow, Aberdeen, Inverness and UK-wide.

Barclays is a major global financial services provider engaged in retail banking, credit cards, corporate and investment banking and wealth management with an extensive international presence in Europe, the Americas, Africa and Asia. With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs over 140,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide. With corporate banking centres in Glasgow, Edinburgh, Aberdeen and Inverness, the Barclays team in Scotland provides a wide range of banking products to Scotland-based companies including trade and working capital, asset finance, liquidity management and risk management.

We also have sector teams dedicated to the real estate, agriculture, social housing, renewables, further education and oil and gas sectors. Our Scottish customers are served by a network of relationship directors who provide local access to an extensive range of products and services, as well as offering business information and support. Customers can also benefit from the products and expertise of all Barclays’ divisions including investment banking and wealth management.

Ally Scott

Position: Managing director, Scotland and oil and gas industry team Age: 45 Qualifications: Chartered banker Career history: Joined Barclays in 2005 to build a leveraged finance team and an Edinburgh office. Created deal origination, project and real estate finance teams in 2007 and 2008 and an oil and gas industry team in 2009. Appointed managing director in 2009 and also has UK responsibility for Barclays’ relationship with the Business Growth Fund.

Andy Hall

Position: Head of corporate banking Age: 45 Qualifications: MCIBS, MBA Career history: Joined Barclays in 2007 after 21 years at Royal Bank of Scotland. Responsible for existing relationships with large corporates and developing new large corporate business across central Scotland.

Jamie Grant

Position: Head of corporate banking Age: 42 Qualifications: CA, BSc (Hons) Career history: Joined from HBOS in 2005 to help start up leveraged finance and in 2009 moved across to run the real estate, agriculture and mid-corporate sectors across Scotland more recently. Jamie sits on the Scottish board for Barclays, has been involved in many high-profile deals in the UK and won the Emerging Dealmaker of the Year award in 2006. He was nominated for Banker of the Year in 2008. He also spent three years working in South Africa with Ernst & Young.

Walter Cumming

Position: Head of oil and gas Age: 55 Qualifications: Chartered Banker, MCIBS, MBA Career history: 35 years’ banking experience, 26 in corporate banking in Edinburgh, Chicago, New York, Glasgow and Aberdeen, with 13 years of direct involvement in oil and gas finance. Joined Barclays in 2007 to expand the Aberdeen and Londonbased oil and gas team.

Kenny Hughes

Position: Director, debt finance oil and gas Age: 50 Qualifications: MCIBS Career history: Joined Barclays in 2008 following roles as director with RBS corporate and structured finance, and Bank of Scotland integrated finance. Having previously headed up the origination/corporate leveraged team within structured finance in Barclays across Scotland, Kenny now has responsibility for M&A/leveraged finance debt transactions in the oil and gas sector covering the UK and Nordics.

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Position: Relationship director, oil and gas Age: 46 Qualifications: BA (Hons) Career history: 17 years’ experience with Barclays having joined Barclays Asset Finance in 1997 from TSB Asset Finance. Gary is now responsible for key clients, debt and leverage transactions and reserve base lending. Latterly head of Barclays Asset Finance Scotland team before moving across to Barclays Corporate as relationship director in the oil and gas team in December 2010.

Louise Brechin

Position: Relationship director, oil and gas Career history: 35 years’ banking experience, for the last 15 years as oil and gas relationship director in Aberdeen. Currently dealing with large US oil service and independent E&P companies, LSE or NYSE-listed multinational businesses with worldwide operations.

Euan Murray

Position: Relationship director Age: 40 Qualifications: BCom (Hons)/MCIBS Career history: Euan joined Barclays in 2008 as relationship director and has over 15 years’ experience in corporate banking. He now has responsibility for Barclays’ relationships with Scotland’s largest privately owned businesses.

Gillian Dow

Position: Relationship director Age: 44 Qualifications: BA (Hons), ACT International Treasury Management Cert Career history: Over 20 years’ corporate banking experience with Barclays. Largely responsible for manufacturing businesses and global corporates.

Pat McGinness

Position: Relationship director, public sector Career history: 30 years’ corporate banking experience and has responsibility for the Scottish public sector team.

Alan Maudsley

Position: Head of business corporate development, Scotland Age: 45 Qualifications: MCIBS, BA (Hons) financial services Career history: A strong addition to the corporate banking team, Alan joined Barclays in August 2013 bringing 28 years of banking experience from Royal Bank of Scotland. Alan is responsible for driving new corporate business acquisition for Barclays in Scotland.

Graeme McNaughton

Position: Director, agribusiness and estates Age: 48 Qualifications: MCIBS, FRICS Career history: With over 27 years’ market experience, Graeme successfully launched and established the corporate real estate team and now heads up the agribusiness and estates sector team.

Paul McAuslan

Position: Key account director Age: 38 Qualifications: MA Career history: Paul is a highly experienced banker with over 15 years’ market experience. He is currently responsible for managing a range of plc and large-cap clients within Barclays’ portfolio in Scotland. Paul has held various roles within Barclays in both the UK and USA since 1998 including a 10-year spell within Barclays’ debt origination team.

Gareth Beaton

Position: Director, real estate Age: 42 Qualifications: MCIBS, MBA Career history: Joined Barclays in 2011 from Santander where he held the position of director of real estate finance. Gareth is responsible for sourcing property development/investment deals and manages an impressive portfolio of property clients.

Tom Wilkinson

Position: Relationship director, natural resources Qualifications: BSc Hons Career history: Having joined Barclays in 2008, Tom is responsible for a sizeable and active portfolio of natural resources clients including several key accounts with wide international operations.

Mark Prentice

BANK OF SCOTLAND COMMERCIAL BANKING

The Mound, Edinburgh EH1 1YZ Telephone: 0131 243 7046 Website: www.bankofscotlandbusiness.co.uk Office locations: Edinburgh, Glasgow, Aberdeen and UK-wide Deal types undertaken: Full suite of commercial and capital market transactions.

As the leading commercial bank our experienced teams are well placed to understand the unique opportunities and challenges that corporate businesses across Scotland are facing. For centuries, Scottish enterprises have come to rely on our service and benefit from our support. With commercial banking offices in Edinburgh, Glasgow and Aberdeen, our front-line relationship directors are right on the doorstep of our clients, enabling us to provide faster decision making and build enduring partnerships. The range and depth of expertise across our Scottish teams is underpinned by many years of individual experience. Working alongside our local product specialists, we provide banking solutions tailored to your specific needs – from hedging and structured finance to cash management and international trade.

Alasdair Gardner

Position: Regional managing director, commercial banking Scotland Qualifications: BCom, MCIBS Career history: His current role is leading the team of professionals providing a full range of banking services to mid-market and SME organisations in Scotland. He has previously held a variety of leadership positions, most notably within the oil and gas, renewable energy, telecoms and media sectors. Alasdair is a member of the Scottish Government’s Scottish Business Board and the SCDI executive committee.

Caroline Cuthbertson

Position: Head of commercial banking, Scotland Qualifications: CA, FCIBS, CB MBA Career history: Over 25 years with Bank of Scotland in a wide variety of roles across retail, international and commercial. Caroline’s more recent experiences are in the leverage buy-out market, restructuring and managing non-core real estate. Caroline’s current role is supporting the mid-market and SME teams in delivering client needs both in the form of funding solutions and relationship banking in Scotland.

Jane Clark-Hutchison

Position: Area director, mid-markets, Edinburgh and east of Scotland Career history: Started her career with Bank of Scotland and has over 22 years’ banking experience. She has worked in a variety of roles across corporate banking, leveraged finance, sales management, credit and risk, including three years at Barclays Capital covering panEuropean financial sponsor-led transactions. She has worked in both the SME and mid-market businesses in BoS Commercial Banking and currently leads the midmarket coverage team in the east of Scotland providing clients with a full range of funding solutions.

Pete Flockhart

Position: Area director, mid-markets, Glasgow and west of Scotland Qualifications: CA Career history: Joined Bank of Scotland in 2010, having worked for Miller Group, Giles Insurance and RBS. Pete has wide-ranging experience across leverage, corporate and real estate finance latterly leading the Bank of Scotland’s business support unit. He is now responsible for managing the commercial relationship banking team in the west of Scotland providing clients with a full range of funding solutions.

Stuart White

Position: Area director, mid-markets, Aberdeen and north of Scotland Qualifications: MCIBS, CA Career history: Joined Bank of Scotland in 1986. Qualified as a CA in 2001, and joined the corporate business in north of Scotland. Three years in acquisition finance were followed by senior roles in business development and relationship management, latterly in the West Midlands. Stuart returned to Scotland in 2011 and is now responsible for managing the commercial relationship banking team in the north of Scotland, providing clients with a full range of funding solutions.

Position: Lead relationship director Qualifications: BA, FCIBS Career history: Bank of Scotland, ABN AMRO and Clydesdale Bank. Mark joined Lloyds TSB Scotland in 1999 as head of corporate banking. Developed corporate relationship teams to manage banking needs of largest companies, created public and community sector unit, expanded structured finance capability with emphasis on acquisition and project finance, and created new property team. He is now responsible for managing the bank’s larger relationships across the central belt of Scotland.

Alison Nicolson

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Position: Regional business development director, mid-markets, Scotland Qualifications: BA, CA, AMCT Career history: Spent time at KPMG and Scottish Amicable before joining Bank of Scotland. She has held various leadership roles in leveraged finance, corporate and commercial banking, latterly leading the west of Scotland teams. Her current role focuses on business development and strategy for the Scottish commercial business. She works in a job-share partnership with Kirsty Livingstone.

Kirsty Livingston

Position: Regional business development director, mid-markets, Scotland Qualifications: BSc, ACIB Career history: Started her career with Lloyds TSB Scotland in 2000 and experienced a variety of front-line roles in corporate and business banking teams.

Previously moved into the regional business performance management role for mid-markets Scotland and then jointly led the Edinburgh and east team in the senior area manager position. Her current role focuses on business development and strategy for the Scottish commercial business. She works in a job-share partnership with Alison Nicolson.

Andy Edwards

Position: Senior director, strategic finance, mid-markets Qualifications: MA (Hons), CA Career history: 23 years postqualification working in a variety of senior positions in leveraged finance and corporate banking acquisition and relationship roles, including two years in London. Currently senior director for strategic finance nationally. This team structures bespoke and tailored funding solutions to support corporate clients’ strategic activity, including acquisitions, restructurings, growth funding and refinancings. Recent deals: Include Cala, WIG and Townhouse Collection.

Simon Sweeney

Position: Director, strategic finance, mid-markets Qualifications: BAcc, CA Career history: Joined Lloyds Banking Group in 2003 from the accountancy profession and for the last 11 years has worked in various transactional roles within the bank.

Currently strategic finance director responsible for central Scotland. This team structures bespoke and tailored funding solutions to support corporate clients’ strategic activity, including acquisitions, shareholder restructurings, growth funding and refinancing. Recent deals: CALA, Wireless Infrastructure Group, Iomart plc, Townhouse Collection.

Andrew Clark-Hutchison

Position: Director, strategic finance, mid-markets Qualifications: FCIBS, BA Career history: 25 years’ banking experience working in Edinburgh, Glasgow, Midlands and London with a variety of client coverage and business development roles in global corporates, mid-markets, and leveraged finance. Currently a director, with a national remit, in the strategic finance team. This team is responsible for creating and leading deal activity as well as developing relationships with corporate clients and prospects. In 2013 and 2014, Andrew had the highest number of votes in Scotland in the FD’s satisfaction survey. Qualified mentor under the BBA scheme mentoring SME companies. Recent deals: Full range of corporate deals including supplier finance, refinancings, acquisition and expansion finance.

Jimmy Williamson

Position: Senior director, acquisition finance Qualifications: MSc, FCIBS, AMCT, CF30 approved person Career history: 24 years’ corporate finance experience in London, Edinburgh, Aberdeen, currently leads the bank’s Scotland region and UK oil and gas sector coverage for private equity-led deals. Recent deals: ASCO/ Doughty Hanson; Sparrows Offshore/AEA Investors; Hydrasun Group/Investcorp; Axis Well Technology/Elysian Capital; Fishers Services/Caird Capital; Express Engineering/LDC; Park Holidays/Caledonia Investments; PD&MS/Inflexion Private Equity.

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IN ASSOCIATION WITH

Lucy Graham

Position: Director, business development and acquisition finance Age: 41 Qualifications: LLB (Hons), DipLP Career history: Joined Clydesdale Bank in 2007 to source and structure corporate finance transactions, previously 10 years as corporate lawyer at Maclay Murray Spens and Minter Ellison in Sydney, specialising in private equity and corporate M&A.

Graham McWilliam

CLYDESDALE BANK PLC

Telephone: 0800 707 6655 Website: www.cbonline.co.uk Office locations: Aberdeen, Glasgow, Edinburgh and UK-wide Deal types undertaken: Acquisition; MBO/MBI/BIMBO; refinancing; development finance.

Clydesdale Bank’s Corporate team provides day-to-day relationship banking as well as funding for mid-market corporate businesses, corporate acquisitions & expansions, and acquisition finance for private equity backed buy-outs and MBOs.

David Henderson

Position: Head of corporate and acquisition finance, west of Scotland region Age: 45 Qualifications: MSc organisational development, FCIBS Career history: 28 years with Clydesdale in corporate, retail and business banking roles. Specialising in corporate and leveraged finance for the last 15 years. Founder member of the bank’s acquisition finance business in Scotland. After seven years in Edinburgh establishing and growing the leveraged business in the east, headed up the corporate relationship business across Scotland for two years. Returned to Glasgow in 2012 to lead an expanded west of Scotland regional corporate and acquisition finance team.

John Brebner

Position: Head of regional business and private banking centre, east of Scotland Age: 48 Qualifications: MSc organisational development, FCIBS, chartered banker Career history: Career banker who joined Clydesdale Bank in 1982 and has held various retail, business banking, corporate banking and area roles.

Currently head of east of Scotland regional office which includes leading the corporate and acquisition finance teams in Edinburgh and Aberdeen.

Graeme Sands

Position: Head of growth finance Age: 44 Qualifications: MA (Hons), CA. Career history: Joined Clydesdale Bank in 2006 having previously held board positions in the software industry and prior to that worked with PwC corporate finance. Following a period focused on acquisition finance for the technology sector, formally established the growth finance business within the bank in 2011, running a team based in London and Glasgow, and seeking to fund high-growth, IP-rich businesses throughout the UK. Recent deals: Provision of growth finance facilities for Touch Bionics, Cambridge Semiconductor, DisplayLink and Polatis.

Andrew Carson

Position: Director, business development and acquisition finance Age: 35 Qualifications: MA (Hons), ACIB Career history: Over 10 years’ banking experience. Joined Clydesdale Bank in 2006 and is now responsible for sourcing and executing corporate finance transactions. Extensive experience in the private equity market including the negotiation and structuring of debt funding for a number of MBOs and secondary buy-outs. Recent deals: A wide range of transactions across a number of different sectors including expansion funding for Smart Metering Systems plc and the leveraged refinancing of Six Degrees Technology Group Ltd.

Stuart McCallum

Position: Director, business development and acquisition finance Age: 44 Qualifications: BA accountancy, CA Career history: Mixture of corporate finance advisory and corporate banking/ acquisition finance experience. Joined Clydesdale Bank in 2011 to assist with a mixture of corporate rebankings and corporate finance transactions.

Joined corporate team in October 2012.

Mike Scott Brown

Position: Director, business development & acquisition finance Age: 44 Qualifications: BA (Hons), CA Career history: Joined Clydesdale Bank in October 2011 to source and execute corporate finance transactions, following three years with RBS structured finance and previously 17 years with Ernst & Young specialising in oil and gas transaction advisory services. Recent deals: Acquisition funding for Ramco, further funding for ATR Group, and recent MBO of Rigmar Services.

CA MAGAZINE DECEMBER 2014

Position: Director, business development corporate Qualifications: BA (Hons), FCIBS Career history: Joined Clydesdale Bank in 2013, with a focus on corporate business development in Aberdeen and the north-east. Has 28 years’ banking experience having held roles previously with RBS and Lloyds. Also held managing director roles in two consultancy businesses, one of which he was co-founder.

Chris Bone

Position: Origination director, growth finance Age: 32 Qualifications: BA (Hons), MCIBS Career history: Joined Clydesdale Bank in 2008 to help establish the growth finance product and team, providing funding to intellectual property-rich businesses. Previously with Bank of Scotland in deal origination roles, including acquisition finance, integrated finance and oil and gas finance. Recent deals: Provision of growth finance facilities for OpenCloud; a telecommunication platform provider and Omnifone Group; a music streaming platform provider.

Gillian Clark

Position: Corporate relationship director Age: 43 Career history: Over 25 years’ corporate and commercial banking experience.

Previously worked with Barclays’ large corporate team in Glasgow before joining Clydesdale Bank in 2005. Currently responsible for relationship management of a portfolio of corporate clients across a wide range of sectors. Recent deals: Broad range of corporate funding including acquisition finance, corporate refinance and working capital across a range of industry sectors including manufacturing, IT services, facilities management and business services.

Nigel Cunningham

Position: Corporate relationship director Age: 47 Qualifications: MA, FCIBS, ACMI Career history: 26 years’ banking experience with Clydesdale Bank covering a variety of roles within corporate, business and private banking, retail and group credit. Rejoined the corporate team in late 2012 after leading commercial relationship management teams in Edinburgh, Stirling and Perth and relationship manages a portfolio of large owner-managed businesses. Recent deals: Experience of a wide range of transactions across various sectors including engineering, retail and leisure.

Gerry Mullan

Position: Corporate relationship director Age: 51 Qualifications: FCIBS, BA Career history: 20 years’ banking experience with RBS in variety of roles, then two years with Lloyds TSB, followed by four years with AIB, ultimately managing the capital markets team in Edinburgh. Joined Clydesdale Bank in 2008 as director and manages a portfolio of corporate clients including a number of plcs. Recent deals: Broad range of corporate transactions across a variety of sectors with experience in corporate refinances, club participations and bilaterals.

Craig Stewart

Position: Corporate relationship director Age: 44 Qualifications: FCIBS Career history: 27 years with Clydesdale Bank across retail, business and corporate banking. In 2010 joined corporate and structured finance team to source and structure corporate finance transactions with a portfolio of some of the bank’s leading clients including a number of listed plcs and large owner-managed businesses through sole, bilateral or club banking arrangements. Recent deals: Wide range of transactions across business services and manufacturing sectors including expansion funding for Maritime Craft Services (Clyde) Ltd and refinance of part of the G1 Group plc.

Gordon Young

Position: Corporate relationship director Age: 54 Qualifications: FCIBS Career history: Joined Clydesdale Bank in 1977 with career predominantly in business and corporate banking positions.

Currently relationship director for a portfolio of the bank’s larger corporate customers in the west of Scotland.

Sweeney Kincaid

IN ASSOCIATION WITH

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BANKS

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IN ASSOCIATION WITH

Mike Brown

Position: Corporate relationship director Age: 45 Qualifications: BA (Hons), MCIBS Career history: Joined Clydesdale Bank in 1986, and since 1994 has worked in various business and corporate banking roles. Currently corporate relationship director with responsibility for a portfolio of the bank’s larger corporate customers situated throughout the Highlands and north-east Scotland. Recent deals: Wide range of corporate transactions and refinancing including Ardtornish Estate and Scottish Provincial Press.

Philip Hamill

Position: Corporate relationship director Age: 35 Qualifications: BA (Hons), MCIBS Career history: Joined Clydesdale Bank’s graduate scheme and has subsequently specialised in corporate banking and acquisition finance roles for the last six years; involved in transactions including MBOs, MBIs, BIMBOs, corporate acquisitions and refinancing. Has recently taken on a relationship director role in Aberdeen. Recent deals: Wide range of corporate transactions across a variety of industry sectors including oil and gas manufacturing, education and food and drink.

Sheila McIntyre

Position: Corporate relationship director Age: 50 Qualifications: MBA, ACIB Career history: Over 20 years’ banking experience with a number of institutions including 10 years with RBS in large corporate credit and relationship management roles. Joined Clydesdale Bank in 2008. Recent deals: Wide range of refinancing, acquisition and restructuring transactions, particularly within oil and gas sector.

Stuart Simmers

Position: Corporate relationship director Age: 46 Qualifications: MA, CA Career history: Qualified with PwC in 1993 and, after financial roles with two large plcs, was joint founder and MD of a sports/outdoor retail outlet in Glasgow. Joined Clydesdale Bank in 2001 focusing on debt restructuring for high-value connection. In April 2014 joined the east of Scotland corporate team as relationship director managing a portfolio of the bank’s larger customers. Recent deals: Wide range of debt restructuring transactions including SMEs, syndications, plc and pre-pack sales, across a variety of industry sectors including manufacturing, engineering, oil and gas, marine and retail.

More recently a number of corporate transactions to support the growth of existing customers.

Fraser Walker

Position: Corporate relationship director Age: 35 Qualifications: MA (Hons), MCSI Career history: 12 years’ banking experience.

Joined Clydesdale Bank, corporate and structured finance, in 2008 with responsibility for managing a portfolio of corporate customers and generating new-to-bank business. Recent deals: Wide range of corporate transactions across a variety of industry sectors including manufacturing, engineering, food, travel, retail and education.

Steven Clark

Position: UK portfolio director, growth finance Age: 55 Qualifications: BA (Hons), DipFS, MCIBS Career history: More than 30 years’ banking experience initially with Yorkshire Bank and joined Clydesdale Bank in 2002. Joined the corporate team in 2006 to source and structure leveraged transactions. Now managing a portfolio of intellectual property-rich businesses within the bank’s growth finance team. Recent deals: Providing existing customers with additional funding in support of their growth aspirations.

HSBC BANK PLC

First Floor, 141 Bothwell Street, Glasgow G2 7EQ Telephone: 08455 847352 Email: dougbaikie@hsbc.com Website: www.hsbc.com Office locations: Aberdeen, Edinburgh, Glasgow and UK-wide Deal types undertaken: Mergers and acquisitions; MBO/MBI/BIMBO; share buyback; refinancing; expansion finance; overseas financing; cross border transactions; project finance/PFI; capital market transactions.

HSBC Holdings plc is one of the largest banking and financial services organisations in the world. Headquartered in London, it serves around 52m customers worldwide through 6,200 offices in 74 countries and territories in Europe, the Asia-Pacific region, the Middle East, Africa, North America and Latin America. With assets of some $2.7trn at December 2013, HSBC is one of the world’s largest banking and financial services organisations. In Scotland, the group has retail, commercial, corporate banking and wealth-management teams based in Aberdeen, Dundee, Dumfries, Edinburgh, Falkirk, Glasgow, Inverness, Perth and Stirling.

Doug Baikie

Position: Head of corporate banking, Scotland Qualifications: ACIBS, BSc (Hons) Career history: 17 years’ experience in corporate and commercial banking, with the past 15 years spent in London, the Midlands and Scotland with HSBC. Leads HSBC’s corporate banking team of relationship managers and product specialists, delivering a full range of HSBC’s global service capabilities to Scottish corporates.

Steve Hewes

Position: Head of leveraged finance, Scotland Qualifications: ACA Career history: More than five years as a senior manager in PricewaterhouseCoopers’ Midlands transaction services team. Part of HSBC’s national leveraged finance team since 2002 and founder of team in Aberdeen in 2008. Recent deals: Mid-market private equity transactions.

Scott McClurg

Position: Head of leverage portfolio management, Scotland Qualifications: CA Career history: 17 years of corporate finance experience across a range of senior positions in advisory, corporate and banking. Responsible for Scotland’s mid-market private equity owned businesses for the last two years covering all aspects of banking including structured lending, asset finance, corporate banking and investment banking requirements. Recent deals: Mid-market private equity transactions.

INVESTEC BANK LTD

2 Gresham Street, London EC2V 7QP Telephone: 020 7597 4000 Email: keith.anderson@investec.co.uk Website: www.investec.co.uk Office locations: 18 locations throughout the UK Deal types undertaken: Mergers and acquisitions; disposals; public takeovers; corporate broking; initial public offerings (main market and AIM); secondary fundraisings; returns of capital.

Keith Anderson

Position: Managing director, head of corporate broking Age: 52 Qualifications: BAcc CA Career history: Qualified with Thomson McLintock in 1985, investment analyst with Campbell Neill & Co (1986); corporate broker at Hoare Govett (1987–1992); Panmure Gordon (1992–2001); Investec Bank (2002–present).

Responsible for corporate broking client relationships across a variety of sectors including industrials, consumer, retail, food manufacturing, services and media.

Recent team deals: IPOs including FDM, easyHotel, Gamma Telecom, Bonmarche, Card Factory, Saga, TSB and Royal Mail; secondary fundraisings including Consort Medical and Premier Foods; rule 3 financial adviser to Synergy Health in respect of the offer from Steris Corporation, Hyder Consulting in respect of the offer from Arcadis and Kentz in respect of the offer from SNC-Lavalin.

CA MAGAZINE DECEMBER 2014

Kenny Stewart

THE ROYAL BANK OF SCOTLAND

36 St Andrew Square, Edinburgh EH2 1AF Telephone: 0131 556 8555 Website: www.rbs.co.uk/corporate Office locations: Edinburgh, Glasgow, Aberdeen, Dundee, Paisley, Motherwell, Ayr, Dumfries, Kirkcaldy, Inverness, Peterhead, Galashiels, Grangemouth, UK-wide and global Deal types undertaken: Acquisitions, disposal MBO/MBI/BIMBO; refinancing; development finance; PFI/project finance; corporate recovery/reconstruction.

RBS is a UK-based banking and financial services company. Headquartered in Edinburgh, RBS operates in the United Kingdom, Europe, the Middle East, the Americas and Asia, serving over 24 million customers worldwide. RBS provides a wide range of products and services to personal, commercial and large corporates and institutional customers through its two main subsidiaries, The Royal Bank of Scotland and NatWest, as well as through a number of other well-known brands including Citizens, Ulster Bank and Coutts.

Malcolm Buchanan

Position: Managing director, corporate and commercial banking, Scotland Age: 47 Qualifications: MCIBS, MBA Career history: Joined NatWest in 1998 after 13 years with Clydesdale Bank. Over 20 years’ experience in corporate and commercial banking with front-line leadership roles across a variety of sectors in Scotland, the north of England and London. Currently head of The Royal Bank of Scotland’s corporate and commercial banking team in Scotland which looks after the bank’s customers with an annual turnover in excess of £2.5m.

Mark Gall

Position: Regional director, corporate and commercial banking, North of Scotland Qualifications: FCIBS Career history: Joined RBS in 2005 as director business development after 21 years at Clydesdale. Undertaken various roles in retail and commercial banking before taking up position as regional director in August 2007. Recent deals: Full range of mid-market deals and corporate deals, including MBOs, acquisitions and refinancings.

Kevin Havelock

Position: Regional director, commercial banking, Edinburgh and east of Scotland Age: 40 Qualifications: MBA, MA (Hons), FCIBS Career history: Joined RBS in 1996 and has had a variety of roles in mid and large corporate and commercial banking in Edinburgh.

Recent deals: Full range of transactions undertaken, including acquisitions, investment and general corporate funding including new business.

Andy Kilgour

Position: Regional director, corporate banking Qualifications: MBA, FCIBS Career history: 20 years with RBS London, primarily as relationship manager. Two years in corporate and institutional division as senior manager specialising in financial institutions. Returned to Scotland in 2003 as director commercial banking in Tayside. More recently has had responsibility for the specialist sector portfolio in commercial banking Scotland including real estate finance, healthcare, agriculture, franchise and leisure. Current role managing the mid and large corporate coverage team based in Edinburgh. Full range of corporate transactions undertaken, including acquisitions, investment and general corporate funding including new business.

Jim McIntyre

Position: Regional director, corporate and commercial banking, west of Scotland Age: 51 Qualifications: MCIBS Career history: Joined RBS in 2002. Responsible for RBS corporate and commercial team in the west of Scotland. Recent deals: Full range of corporate deals including acquisitions and refinancings.

Position: Managing director, structured finance, Scotland Age: 46 Qualifications: MCIBS, CA Career history: Joined RBS in 1986. Moved to London in 1997, worked in leveraged finance and structured finance teams. Returned to head mid-market leveraged finance business in Scotland in 2005. Based in Edinburgh with responsibility for structured finance business across Scotland and north of England.

Stuart Heslop

Position: Managing director, real estate finance, Scotland Age: 44 Qualifications: FCIBS Career history: Joined RBS in 1987. Various roles in retail, commercial and corporate banking across Scotland. Previously responsible for major corporate banking in Scotland covering the plc and financial institutions market.

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IN ASSOCIATION WITH

SANTANDER

Telephone: 0141 275 9674 Email: Graham.silcock@santander.co.uk Website: www.santandercb.co.uk Office locations: Edinburgh, Glasgow Aberdeen and Inverness Deal types undertaken: Acquisition/disposal; MBO/MBI/BIMBO; refinancing; development finance; PFI/project finance.

Whether small family companies or global corporations, we approach every business customer as an individual relationship. We strive to understand your unique needs and to make banking straightforward, so you can focus on growth. That’s why our clients get a dedicated, expert relationship director. We believe credit partners should meet clients directly, so our decisions are as transparent as possible. We work hard to do right by our customers and their businesses now and in the long term. It’s thanks to this approach that we’re proud to say four out of five of our business customers would recommend us.

Roddy Kilpatrick

Position: Director, structured finance Qualifications: LLB (Hons); CA Career history: Joined Santander in 2013 with 15 years’ corporate finance experience, including BDO and EY. Spent eight years at Clydesdale Bank, playing major role in the creation and growth of a successful acquisition finance team in NW England.

Recent deals: Role is to provide growth capital funding for businesses in Scotland with turnover up to £50m and structured lending for larger corporates. The former includes provision of £4m growth capital to Bertram Nursery Group, while the latter includes participation in the £260m of post-IPO facilities to Edinburgh-based Exova Group plc.

Graham Silcock

Position: Regional director, Scotland Age: 50 Qualifications: BAcc CA Career history: Qualified as a CA with Coopers & Lybrand, Glasgow, in 1987 spending 10 years in audit, corporate finance and corporate recovery functions. Joined Bank of Scotland in 1996, working within acquisition finance role before assuming senior relationship banking responsibilities in 2006. Joined Santander corporate and commercial banking as regional director in 2012.

Recent deals: Crieff Hydro, Outreach, Fletcher Shipping, CHAP Group, Bancon Group, AJC Homes, The Furnishing Service, MacLeod Construction, Energy Assets.

Nick Peet

Position: Divisional Real Estate Head covering Scotland Age: 45 Qualifications: BA (Hons), MCIBS Career history: 24 Years in Corporate Banking with BoS/LBG/ NAB and Santander.

Recent deals: We will have closed by the end of 2014 in excess of 60 transactions for Scottish based clients, providing new lending of over £275m. From smallest (£72k) to large (a series of deals in excess of £30m) our appetite and interest has remained genuine and deliverable.

DECEMBER 2014 CA MAGAZINE

OTHERS

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IN ASSOCIATION WITH

ADAM SMITH

Adam Smith House, Melville Castle Estate, Lasswade, Edinburgh EH18 1AW Telephone: 0131 654 7000 Fax: 0131 654 7070 Email: derek@adamsmith.com Website: www.adamsmith.com Office location: Edinburgh Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/BIMBO; listing – AIM, UK stock exchange, overseas.

The corporate finance business of Adam Smith Ltd (ASL) was established in 1988.

ASL has unrivalled expertise and knowledge for advising the growth of technology companies. ASL has raised more than £100m for technology companies. The firm has extensive networks with global businesses. It works with companies at various stages from start-ups through to flotation, trade sales, management buy-ins and management buy-outs but also specialises in early-stage work.

Dr Derek Douglas CBE

Position: Chairman Qualifications: CA, CAS, FRSA, DBA, BSc Career history: Founder of Adam Smith.

ARCHANGELS

20 Rutland Square, Edinburgh EH1 2BB Telephone: 0131 221 9876 Email: enquiries@archangelsonline.com Website: www.archangelsonline.com Office locations: Edinburgh Deal types undertaken: Early stage/start-up Archangels is a leading business angel group. We invest in Scotland-based technology companies. We provide significant business experience, mentoring, support and networking opportunities to our portfolio companies. We seek to invest in high-growth companies with global potential and are prepared to become involved at all stages from proof of concept through to growth capital.

John Waddell

Position: Chief executive Age: 57 Qualifications: LLB Recent deals: The team at Archangels has lead over £12m of equity investment during 2014, and the year’s exits include Flexitricity Limited which was sold to Swiss utility Alpiq.

BLAS LTD

Blas House, 1 Rutland Square, Edinburgh EH1 2AS Telephone: 0131 222 9950 Email: mary@blasltd.com Website: www.blasltd.com Office locations: Edinburgh and Manhattan Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/ BIMBO; refinancing; development finance; PFI/project finance; listing – AIM, UK stock exchange, overseas.

Blas provides strategic corporate finance and governance advice to industry leaders and all sizes of entrepreneurial businesses with value potential. Clients, on both sides of the Atlantic, range from medium-sized-growth companies to listed companies and key institutions in both the public and private sectors.

Mary Campbell OBE

Position: Founder Age: 55 Qualifications: CA Career history: Trained with EY. Moved to Noble Group in 1986 and became CEO of the strategic advisory business in 1997. Joined the executive board of The British Linen Bank in 1998 and was a founding director of British Linen Advisers in 2000 when the British Linen corporate finance did an MBO. Founded Blas in 2003. Has also held numerous non-exec appointments in unlisted and listed companies in both the UK and the USA.

Sheila Gunn

Position: Head of governance Age: 51 Qualifications: LLB(Hons) Dip LP NP Career history: An experienced non-executive director, currently on the boards of Wheatley Housing Group Ltd, Glasgow Housing Association, Your Place Property Management Ltd, and Airdrie Savings Bank, as well as being on the council of the Chartered Banker Institute and a member of the ethics committee of the Institute of Chartered Accountants of Scotland. Sheila uses her legal training and financial services background to advise the clients of Blas on governance, employment and remuneration issues.

Team deals: Blas continued to advise owner-managers, policymakers and executives in all sizes of businesses, particularly on value realisation and exits. We specialise in the highly regulated sectors and in transatlantic businesses. During the past year we have successfully completed assignments in the oil and gas, financial services, information technology and substainable energy sectors.

BRAVEHEART INVESTMENT GROUP PLC

Merlin House, Necessity Brae, Perth PH2 0PF Telephone: 01738 587 555 Fax: 01738 587 666 Email: mail@braveheartgroup.co.uk Website: www.braveheartgroup.co.uk Office locations: Perth Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/ BIMBO; refinancing; development finance; PFI/project finance; listing – AIM, UK stock exchange, overseas.

Braveheart Investment Group plc (the group) was formed in 1997 and has been quoted on the Alternative Investment Market (AIM: BRH.L) of the London Stock Exchange since 2007. Headquartered in Perth, Scotland, it also has offices in Yorkshire, and Belfast. Braveheart has around £121m of funds under management and provides equity, loan and mezzanine funding to small and medium-sized enterprises (SMEs).

Geoffrey Thomson

Position: Chief executive Age: 56 Qualifications: IMC Career history: One of the founders, led Braveheart to AIM in 2007. Well known as a deal maker and business angel in Scotland, previously ran venture capital-backed group of companies and spent five years as a company doctor specialising in restructuring and refinancing of SMEs. He is on the board of the UK Government’s £50m Angel CoFund

Carolyn Smith

Position: Chief investment officer Age: 46 Qualifications: BA (Hons), ACIS Career history: Five years in insolvency before moving to business development and investment. Joined Braveheart in 2000 after five years with LINC Scotland, Scotland’s national business angel network.

Aileen Brown,

Position: Chief financial officer Qualifications: CA Career history: An experienced CFO and company director who has worked in a broad range of sectors including professional services, staffing and recruitment, health, manufacturing, telecoms, and financial services. She joined Braveheart in 2012.

CAIRD CAPITAL LLP

Telephone: 020 7871 2200 Fax: 020 7871 2222 Email: connect@cairdcapital.co.uk Website: www.cairdcapital.co.uk Office location: London Deal types undertaken: Acquisition/disposal; MBO/MBI/BIMBO; refinancing.

Caird manages a portfolio of UK-domiciled MBO investments across a wide range of sectors. With a portfolio of 42 investments made from 2004-2007, the business has realised 27 of these in the past four years and has a remaining portfolio of 15.

Graeme Shankland

Position: Managing partner Age: 54 Qualifications: FCIBS Career history: Clydesdale Bank, Deutsche Bank AG, Bank of Scotland, HBOS, Lloyds Banking Group, Caird Capital. Recent deals: Sale of House of Fraser (2014); sale of PSN (2011).

CA MAGAZINE DECEMBER 2014

Mark Hammond

Position: Deputy managing partner Age: 46 Qualifications: CA (1991) Career history: Price Waterhouse, RBS, Zurich Financial Services, HBOS, Lloyds Banking Group, Caird Capital. Recent deals: IPO of McColls Retail Group (2014); IPO of Polypipe Group (2014).

David Cowie

Position: Partner Age: 50 Qualifications: MCIBS (1990), FCIBS (2002) Career history: Price Waterhouse, Bank of Scotland, HBOS, Lloyds Banking Group, Caird Capital. Recent deals: Recapitalisation of Scaid Investments (2013); recapitalisation and follow-on investment in Fishers Group (2013).

Neil Scragg

Position: Partner Age: 46 Qualifications: CA (1993) Career history: Ernst & Young, RBS, Gresham, HBOS, Lloyds Banking Group, Caird Capital.

Recent deals: Sale of M&H Plastics (2013); sale of Gradus (2014)

CHRISTIE GRIFFITH CORPORATE LTD

Telephone: 0141 225 8066 Fax: 0141 225 8065 Email: info@christiegriffith.co.uk Website: www.christiegriffith.co.uk Office locations: Glasgow Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/BIMBO; refinancing; corporate recovery/reconstruction, turnaround.

A niche practice which guarantees the direct involvement of the principals in all transactions providing a range of corporate finance services, including due diligence, investment appraisal, investigations and turnaround support, acquisitions and disposals, pension trustee support, litigation support, forensic accounting and fundraising.

Gordon Christie

Position: Director Age: 54 Qualifications: MA (Hons), CA, FABRP Career history: Arthur Andersen, 1982-2001; Christie Griffith, 2001 to date.

Recent deals: Construction, motor trade, retail, service sector, licensed trade.

Robin McGregor

Position: Director Age: 49 Qualifications: LLB, DipLP, NP, CA Career history: PWC 1989–95, Clydesdale Bank 1995–98, British Linen Bank, 1998–2000, industry 2000–2004, Christie Griffith, 2004 to date.

Recent deals: Engineering, alternative energies, bio-pharma, e-commerce.

CMGR CORPORATE FINANCE LLP

Telephone: 0141 353 0090 Email: craigcampbell@cmgrcf.co.uk Office locations: Glasgow Deal types undertaken: Acquisition/disposal; MBO/MBI/BIMBO; refinancing; development finance; corporate recovery/reconstruction.

CMGR Corporate Finance is an independent, relationship-driven advisory firm.

Founded in 2011 by Craig Campbell, CMGR provides high-quality corporate finance advice to private companies and has completed over £100m of transactions since inception. We utilise our longstanding relationships across the financial community and industry along with our depth of experience to deliver value and assist clients execute their strategic ambition. Our focus is on providing clients with hands-on, partner-led advice throughout ‘the journey’.

Craig Campbell

Position: Managing partner Qualifications: BAcc, CA, CF, MSI Career history: Qualified as a CA with Arthur Andersen. Joined Deloitte Corporate Finance in 1996 spending 15 years advising private equity and corporate clients in Scotland, latterly as head of UK oil and gas corporate finance advisory. Craig founded CMGR in 2011.

Recent deals: Sale of Europa Support Services to Bilfinger AG; sale of Star Net Geomatics to UTEC Survey and various corporate acquisitions, MBOs, fundraisings and strategic reviews.

CRAIG CORPORATE LIMITED

Stirling House, 226 St Vincent Street, Glasgow G2 5RQ Telephone: 0141 243 4980 Email: tcraig@craigcorp.co.uk/pyacoubian@craigcorp.co.uk Website: www.craigcorporate.com Office locations: Glasgow and London Projects undertaken: Strategy, consulting, turnaround, corporate finance, taxation services, M&A advisory – start-ups, disposals, mergers and acquisitions, MBOs/ MBIs, fundraising; transaction support – financial modelling, due diligence, business valuations.

OTHERS

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IN ASSOCIATION WITH

RECENT DEALS l Disposal of Ferguson Group to Brambles Ltd of Australia for £320m. l Led VIMBO of a successful Glasgow-based business for £11m. l Investment in ACS Clothing by BGF for £8.5m. l Led £3m investment in Silent Herdsman by SEP, Albion Ventures and Scottish Investment Bank. l Acquisition of Akorn to form £5m-turnover UK manufacturing business by Badgemaster. l Tax structuring. l Various due diligence projects on behalf of equity investors and venture debt providers.

Our ethos is to devise and implement practical yet innovative solutions that are tailored to meet each client’s specific needs. We are flexible in our approach and pride ourselves on providing high-quality, hands-on assistance and advice. We are dedicated to providing commercial and independent advice across a full range of core disciplines. Our team achieves the best results by operating as an integral part of our clients’ businesses. We also work in partnership with leading financial and professional institutions. Over the last 25 years, we have established a track record for creative and successful projects across the UK and Europe for businesses ranging from small, privately owned enterprises to listed companies.

Tom Craig

Position: Founder and chairman Qualifications: BAcc (Hons), CA Career history: EY, PA. Founded Craig Corporate in 1985.

Paul Yacoubian

Position: Managing director Qualifications: BAcc (Hons), CA Career history: Scottish Development Agency; Arthur Andersen and Co. Joined Craig Corporate in 1988.

Bill Finlay

Position: Director Qualifications: BAcc (Hons), CA Career history: Thomson McLintock (now KPMG), chief accountant AT Mays. Joined Craig Corporate in 1997.

Derek Hanlan

Position: Director of taxation Qualifications: LLB (Hons), CTA Career history: Deloitte, EY. Joined Craig Corporate in 2008.

Neil Grimmond

Position: Associate director Qualifications: BA (Hons), CA Career history: Qualified with PWC. Joined Craig Corporate in 2006.

Gordon McCall

Position: Assistant director Qualifications: BA (Hons), CA Career history: Qualified with Deutsche Bank. Joined Craig Corporate in 2014.

DECEMBER 2014 CA MAGAZINE

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IN ASSOCIATION WITH

CR CORPORATE SOLUTIONS LTD

Telephone: 0141 354 1414 Email: info@crcorporatesolutions.co.uk Website: www.crcorporatesolutions.co.uk Office location: Glasgow Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/ BIMBO; refinancing; development finance; PFI/project finance; corporate recovery/ reconstruction.

CR Corporate Solutions provides a range of services to small and medium-sized companies (SMEs), owner-managed businesses (OMBs), family businesses and early-stage companies, with challenges and ambitions. We assist companies in growing their business profitably and ensuring they have a clear strategy, as well as the management team to deliver that strategy, and the financial resources required. We also assist companies that are in financial difficulty by designing and implementing plans to help them return to profitability, and to restructure their existing financial arrangements. We provide experienced business advice with exceptional results. Our focus is on delivering commercial solutions geared to our clients’ success and their desired outcome, while at the same time providing strong relationships with financial stakeholders. Our roles typically involve close liaison with the company shareholders and other finance providers. We generally perform the role of part-time finance director, non-executive director/chairman or consultant.

Regardless of title or role, we form an integral part of the team – generally filling a gap in skills and experience and completing the management jigsaw. We provide tailored solutions that deliver results by improving profitability, cashflow and shareholder value for clients.

Craig Rattray

Position: Director Age: 44 Qualifications: BA, CA. Career history: CA training with Arthur Andersen and six years in private equity, then industrial financial management role with a New York Stock Exchange-listed subsidiary. Established CR Corporate Solutions in early 2010. Recent deals: Include private equity finance raising for two clients; equity finance raising from syndicates of private individuals for two earlystage clients (£1m+); rebanking and increase in confidential invoice discounting facilities for various clients involving facilities of up to £2.5m for growing profitable clients; financial restructuring and continued support from existing bank for four different clients; various early-stage commercialisation projects for the University of Strathclyde; various investments through the Gabriel Investment Syndicate; successful SMART applications for three clients; disposal of two businesses for exiting shareholders. Currently working on two succession projects, various earlystage finance raisings, a restructuring, and two growth and development projects.

Caroline Marshall

Position: Business development director Qualifications: Degree in design, diploma in business advice and counselling – Napier University Career history: More than 25 years in successful sales, marketing and business development roles. Responsible for company launches, establishing and developing new divisional HQ in Scotland for a range of bluechip companies across the IT and business systems sectors. In addition, created and developed a sales, training and account-management model for SMEs across Scotland to assist their business growth, increase market share and profitability.

DC CONSULTING

Dundee One, 5 West Victoria Dock Road, Dundee DD1 3JT; 7/9 North Saint David Street, Edinburgh EH2 1AW Telephone: 01382 339290/0131 524 9671 Email: deals@dcconsult.co.uk Website: www.dcconsult.co.uk Office locations: Dundee, Edinburgh Deal types undertaken: Acquisitions and disposals, MBO/MBI, tech company funding, business and share valuations, debt finance and grant funding, tax advisory, strategic planning and FD services.

DC Consulting provides dynamic, innovative solutions in corporate finance to SMEs and entrepreneurs and has more than 70 years’ commercial business advisory experience of assisting clients to raise finance to grow, acquire and restructure. DC Consulting provides transaction support to MBO and MBI teams, particularly buy-side teams and works closely with a wide-range of funders both UK-based and overseas CA MAGAZINE DECEMBER 2014

in tailoring funding proposals. In 2015, DC Consulting will celebrate 15 years of success in corporate finance and business advisory.

Angus Hay

Position: Director Qualifications: BA (Hons) Recent deals: Corporate adviser to a number of clients including successful fund raising for several technology companies, various successful RSA and R&D assignments, and lead adviser to MBI team of Visio Stone. .

Andy McCafferty

Position: Director Qualifications: BA, CA, CTA Recent deals: Lead adviser to a number of acquisitions in the year including Azure Investments’ acquisition of Dick Brothers Ltd and corporate advisory work for various clients across a range of sectors.

John Craig

Position: Director Qualifications: BAcc (Hons), CA Recent deals: Lead adviser to a number of clients in securing funding including Allthings Ltd, along with various grant and R&D tax credit assignments, coupled with corporate advisory work across a range of sectors.

DUNEDIN LLP

Saltire Court, 20 Castle Terrace, Edinburgh EH1 2EN Telephone: 0131 225 6699 Fax: 0131 718 2300 Email: info@dunedin.com Website: www.dunedin.com Office locations: Edinburgh, London Deal types undertaken: MBO/MBI/BIMBO. Dunedin provides equity finance for management buy-outs and management buy-ins with an enterprise value size of £20m-£100m.

We will invest up to £50m equity in any transaction. An independent private equity house, we operate throughout the UK from offices in Edinburgh and London. In 2013 we raised the £300m Dunedin Buyout Fund III, significantly in excess of our target. We support management teams at all stages of the investment, providing strategic, financial and operational assistance to grow businesses organically, through internationalisation and through acquisition, and have completed 20 portfolio acquisitions since 2011. We have enjoyed particular success in the industrial, business services and financial services sectors.

Shaun Middleton

Position: Managing partner Age: 46 Qualifications: CA Career history: Qualified with Coopers & Lybrand Deloitte, 1992.

Joined Dunedin,1994. Recent deals: MBOs of CitySprint, Hawksford, Practice Plan Group.

Ross Marshall

Position: Senior partner Age: 56 Qualifications: CA Career history: Qualified 1982, then Price Waterhouse and 3i, where he was investment director for UK private equity. He has more than 25 years’ experience in private equity, including leading negotiations for MBO of Dunedin in 1996 and acquisition of Sand Aire Private Equity in 2005. Member of the team which raised £300m Dunedin Buyout Fund III in 2013. He is a member of the council of the BVCA and of the UK and European capital committee.

Mark Ligertwood

Position: Partner Age: 42 Qualifications: CA Career history: Joined Dunedin 1999 after six-month secondment from Ernst & Young where he was corporate finance executive. He was a key member of the fundraising team that raised the £300m Dunedin Buyout Fund III in 2013. Recent deals: MBOs of Kee Safety, Weldex and RSL Steeper; and sale of Capula.

Dougal Bennett

Position: Partner Age: 49 Career history: Joined Dunedin in 1999.

Previously in charge of Société Générale’s leveraged debt international team. Prior to that, at Bank of Scotland, after spell with Hill Samuel Development Capital. He sits on the boards of EV Offshore and Premier Hytemp. Recent deals: MBOs of EV Offshore, Premier Hytemp, Capula Group, and the sale of WFEL.

Nicol Fraser

Position: Partner Age: 47 Qualifications: CA Career history: Joined Dunedin in 2001 after five years at Bridgepoint Capital where he was investment director. Previously six years in corporate recovery with Scott Oswald (now part of Tenon group). He is responsible for Dunedin’s portfolio of investments and sits on the boards of Kee Safety, Citysprint, Weldex and Formaplex. Recent deals: MBOs of Citysprint, RSL Steeper, Kee Safety and Formaplex, and sale of etc.venues.

HMT LLP

The Hub, Station Road, Henley-on-Thames, Oxfordshire, RG9 1AY Telephone: 014915 79740 Email: hmt@hmtllp.com Website:www.hmtllp.com Office location: Henley-on-Thames Deal types undertaken: Acquisition/disposal; MBO/MBI/BIMBO; refinancing; development finance; corporate recovery/reconstruction; listing – AIM, UK stock exchange, overseas due diligence.

Established in 1992, HMT is one of the leading independent advisers in the UK, with an exceptional track record of completing transactions, with 26 deals completed in the past 12 months with an aggregate value in excess of £400m.

We both advise on all aspects of corporate finance transactions as well as provide specialist audit, tax, outsourcing and corporate recovery advice to support entrepreneurs build and protect value. Each of the partners has been one of the leading advisors in the south over the last decade, and together with HMT’s exceptional track record of completing transactions, these talents have been harnessed giving us a unique integrated service offering to our clients.

Andrew Thomson

Position: Partner Age: 52 Qualifications: MA, CA, CF Career history: Formerly at Ernst & Young before co-founding HMT in 1992. Over 20 years’ corporate finance and reconstruction experience with expertise in transaction support and corporate finance both as a buy-side and sale-side lead adviser. Was voted Corporate Finance Adviser of the Year at the Thames Valley Deals Awards in 2008, 2012 and 2013.

Recent deals: Andrew has recently advised on the MBO of Veritek Global, the MBO of Virgin Wines (voted Deal of the Year at the Thames Valley Deals Awards), the acquisitions by Redeem of Eazyfone, Mobilpoint and Insitu, and the acquisition of Cooper Callas Ltd.

Ian Barton

Position: Partner Age: 43 Qualifications: BA, ACA, CF Career history: Spent 20 years at Deloitte, the latter half of which was spent as a partner leading its south-east corporate finance advisory business. His focus has been on UK mid-market and ownermanager businesses either sourcing investment and acquisitions or enabling exit strategies and maximising value across a range of industry sectors. Ian also works extensively with private equity houses having led several of the region’s most prestigious transactions, winning Thames Valley Deal of the Year in 2007 and 2011.

Was voted Corporate Finance Adviser of the Year at the Thames Valley Deals Awards in 2014. Recent deals: In the last 12 months, Ian has advised on HMT’s first £100m+ deals being the sale of Swift Worldwide Resources to a US private equity house and the JV investment in whistl by PostNL and LDC. He has also advised on the MBOs of seismic consultancy firm The EPI Group by Palatine Private Equity and Acal Enterprise Solutions by NVM Private Equity.

Paul Read

Position: Director Age: 40 Qualifications: FCA Career history: Qualified in 2001 with BDO Stoy Hayward where he remained until 2003, focusing on both auditing and due diligence assignments for key SME clients. Spent five years in the corporate finance department of a top-12 practice, being promoted on three occasions ultimately to the position of associate director. Focused on leading DD assignments for both VCs and banks, delivering quality reports focusing on the key issues. He also has capital markets experience from managing a number of AIM flotations of both UK and international businesses. His most recent role prior to joining HMT was as a group finance director for a portfolio company of a PE house that Paul had worked for extensively in a transaction support capacity. Recent deals: In the past 12 months, Paul has advised on numerous deals including the MBO of Virgin Wines voted ‘Deal of the Year’ at the Thames Valley Deals Awards, the acquisition by Procam of Hammerhead TV, the MBO of GMG Property Services Group and the refinancing of Croft Associates.

JC RATHBONE ASSOCIATES

Forsyth House, 93 George Street, Edinburgh EH2 3ES Telephone: 0131 240 1273 / 0207 493 3310 Email: mleslie@jcra.co.uk Website: www.jcra.co.uk Office locations: Edinburgh, London, Leeds, Manchester and New York Deal types undertaken: Acquisition/disposal; MBO/MBI/BIMBO; refinancing; development finance; PFI/project finance; corporate recovery/reconstruction; listing – AIM, UK stock exchange, overseas.

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JC Rathbone Associates Ltd (JCRA) is a regulated, independent financial risk consultancy. We have principal offices in London and New York and a network of regional offices throughout the UK, including in Edinburgh, from which we serve clients across the globe. We offer sector expertise in property, private equity, infrastructure, education and social housing as well as generic treasury management advice. We are a team of highly skilled financial markets experts. Our expertise spans markets and products in interest rate, foreign exchange, inflation and commodities, as well as provision of structured finance and debt advice. We deliver innovative, customised risk management solutions tailored to our clients’ businesses. Our objective is to provide bespoke strategies which secure transparent and competitive pricing. Our access to market data, our leading edge pricing and valuation methodologies, together with our independence, allow us to add value to our clients in their relationships with financial counterparties.

Jackie Bowie

Position: Chief executive officer Age: 41 Qualifications: BA (Hons) economics, MSc investment analysis. Member of the CFA Institute Career history: 10 years as a US equity analyst/fund manager, nine years providing financial risk/treasury/hedging advice at JCRA. Recent deals: Creation, development and execution of hedging strategy for various mid-market private equity-backed transactions; structuring of interest rate hedging strategy, pricing analysis and deal execution for a privately owned Scottish property company; ongoing FX and interest rate hedging advisory input and pricing execution for a multinational manufacturing business.

Michael Leslie

Position: Regional director Age: 41 Qualifications: BA (Hons), CA, ASI Career history: 15 years’ experience in corporate finance/ banking: Ernst & Young, Bank of Ireland Corporate Banking UK, Deloitte & Touche LLP. Joined JCRA in 2008. Recent deals: senior debt and capital markets fundraising and debt advisory for a number of RSLs; development and execution of an interest rate hedging strategy for the first investment of a leading Scottish private equity sponsor’s infrastructure fund; premerger treasury due diligence on a combined £200m senior debt portfolio; debt and interest rate risk advisory for a student accommodation investment.

Samantha Bett

Position: Director Age: 40 Qualifications: BA (Hons) Career history: Joined JCRA in January 2011, with 15 years’ experience in treasury markets, having worked in foreign exchange trading at Bank of America in London and WestLB in Singapore. Prior to joining JCRA, she held senior positions at Clydesdale Bank and HBOS. Recent deals: FX hedging advisory for multinational PE-backed Scottish specialist oil services company; debt advisory input and hedging analysis for major Scottish university; FX risk advisory work on translation hedging for a pan-European business; advisory input and retrospective pricing analysis for SME borrowers involved in both the FCA review process and various litigation cases, with particular focus on the property and care home sectors.

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JP MORGAN CAZENOVE

Telephone: 020 7742 4000 Website: www.jpmorgancazenove.com Office location: London Deal types undertaken: Acquisition/disposal; MBO/MBI/BIMBO; listing – AIM, London stock exchange, overseas; debt financing; corporate broking.

JP Morgan Cazenove became a wholly owned part of JP Morgan in 2010, having originally operated as a joint venture between JP Morgan and the UK investment bank Cazenove. The combination of a global network, capital strength, broad product capabilities and a client-driven approach provides a unique and valued offering to clients.

Edward Gibson-Watt

Position: Executive director Age: 36 Qualifications: CA, Securities Institute certificate Career history: 2000-2004 Ernst & Young, London; 2004 Cazenove/JP Morgan Cazenove. Recent deals: £50m primary follow-on equity capital raise for John Laing Infrastructure Fund; £39m secondary sale of shares in John Laing Infrastructure Fund; financial adviser to Tamar European Industrial Fund in its takeover by funds managed by Starwood Capital for £53m.

LDC

39 Queens Road, Aberdeen, AB15 4ZN Telephone: 01224 548 761 Email: mkerr@ldc.co.uk Website: www.ldc.co.uk Office locations (Scotland): Aberdeen, Edinburgh Deal types undertaken: Acquisition/disposal; MBO/MBI/BIMBO; refinancing; development finance; corporate recovery/reconstruction.

LDC is the UK’s leading regional mid-market private equity house, with a 30-year history of supporting management buy-outs, equity release (cash out), development (devcap) and acquisition finance transactions. During 2013, LDC invested over £50m in the region, which includes a reinvestment in Motherwell-based MB Aerospace and an investment in Ramco Oil Services. The team in Scotland also supports LDC’s portfolio activity and has been actively involved in building up oil and gas exposure in the UK through the recent investments into Bifold, Rimor and Express Engineering.

The LDC team has the capacity to support a business with equity of between £2m and £100m.

Mark Kerr

Position: Director and head of Scotland Qualifications: MBA, BSc Career history: Mark heads up LDC in Scotland and is based in the Aberdeen office. Mark is focused on securing and completing transactions in the oil services sector and the broader Scottish marketplace. Mark currently sits on the board of Ramco Tubular Services. Prior to joining LDC in January 2012, Mark worked for 3i plc for 15 years in a variety of roles/ locations with nine years in Aberdeen, latterly as co-head of 3i’s oil, gas and power team. Mark has also worked as an actuary for Scottish Provident in both Edinburgh and Madrid.

Kevin Binnie

Position: Investment director Qualifications: CA Career history: Kevin joined LDC in June 2012 and is based in the Aberdeen office where he is focused on developing LDC’s presence in the oil and gas services sector. Prior to joining LDC, Kevin qualified as a chartered accountant and has worked in the oil and gas services sector for over 13 years: eight as an adviser with KPMG and five as an investor in private equity. At SCF Partners, Kevin was involved in a number of buy-and-build initiatives within the oil and gas sector and worked closely with management teams to help grow and develop their businesses.

Colin Bennett

Position: Investment director Qualifications: BA Career history: Colin graduated from Nottingham Trent University with a BA (Hons) degree in accounting and finance,

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joining Bank of Scotland through its graduate programme in 2000. Over a 10-year period he undertook a variety of debt and equity roles across the UK and continental Europe. More recently Colin has played a leading role in managing LBG’s non-core equity portfolio, consisting of c£20bn of assets across 180 investments. Colin joined LDC in February 2013 and is based in Edinburgh.

LINC SCOTLAND

19 St Vincent Place, Glasgow G1 2DT Telephone: 0141 221 3321 Email: info@lincscot.co.uk Website: www.lincscot.co.uk Office location: Glasgow LINC Scotland is the national association for business angels in Scotland, with a membership network of hundreds of investors, including those operating individually, many of the best-known groups and syndicates and a number of significant private offices. LINC itself is a private non-profit trust and does not act as investment adviser to any party, but rather plays an underlying “soft infrastructure” role in supporting the development of the business angel marketplace in Scotland, as well as representing members’ interests at Scottish, UK and European level. We have facilitated investment deals for fast-growing Scottish companies and pioneered initiatives in investment readiness, syndicate building and professionalisation, making LINC, according to independent reports, one of the most successful networks of its kind in Europe.

LINC members have completed more than 850 investment deals.

LONDON AND SCOTTISH INVESTMENT PARTNERS Telephone: 0131 226 1589 Email: ruth@lsip.o.uk Website: www.lsip.co.uk Office locations: Edinburgh

London and Scottish Investment Partners is an exclusive group of sophisticated investors who invest in UK firms. Investors benefit from high-quality ‘dealflow’, a team of growth specialists dedicated to maximising shareholder value and a clear focus on taking the business to the next level and releasing this value. LSIP aims to invest up to £1m per case, and to qualify for funding companies will need to be well established (at least two to three years’ trading), solvent, have an existing revenue stream and have a route to exit or a liquidity event within three years. They must fall into life sciences, technology, oil and gas, food and drink or manufacturing sectors.

Investment is conditional on achieving an alignment with stakeholders and investors which permits strong management control, ongoing monitoring and support of the company. LSIP can invest in equity, loan, preference or convertible stock as well as purchasing existing equity.

Scott Carnegie

Position: Chairman Qualifications: CA, LLB (Hons) Career history: A member of ICAS, Scott sits on many boards in both an executive and non-executive capacity. He has extensive experience across a broad range of sectors, with a strong background in buying and selling companies, restructuring, and corporate finance. He is founder and chairman of early-stage angel group Discovery Investment Fund Ltd.

Ruth Mountford

Position: Business development manager/gatekeeper Qualifications: BA (Hons) Career history: Ruth is first point of contact assisting Scott with daily operations. She has extensive experience in project management and business administration, handling a large and high-valued portfolio of clients.

MAVEN CAPITAL PARTNERS

Kintyre House, 205 West George Street, Glasgow G2 2LW; 6 Queens Terrace, Aberdeen AB10 1XL; 2 Walker Street, Edinburgh EH3 7LB Telephone: 0141 306 7400 Email: enquiries@mavencp.com Website: www.mavencp.com Office locations: Glasgow, Aberdeen, Edinburgh, London, Birmingham, Manchester Deal types undertaken: Acquisition/disposal; MBO/MBI/BIMBO; refinancing; replacement capital; development capital.

Maven Capital Partners UK LLP is a leading VCT, private equity and alternative asset manager, providing growth capital to UK SMEs and tax-efficient investment opportunities for investors. Maven specialises in investing in fast-growing companies across the small-mid cap arena, typically with an enterprise value of up to £25m, through the provision of funding for management buy-outs, buy-and-build projects and acquisitions, as well as mezzanine finance. Managing more than £340m for a variety of client funds, including six VCTs and the £113m Scottish Loan Fund, Maven has a wide range of industry and sector knowledge and experience, allowing it to source, analyse and execute the best deals for investors. Maven also has a UK-wide specialist property investment team.

Bill Nixon

relationships.

Position: Managing partner Age: 51 Qualifications: MBA, FCIBS Career history: Clydesdale Bank, 1980 to 1999; Aberdeen Asset Management, 1999 to 2009; Maven Capital Partners, 2009 onwards.

Leads UK investment and portfolio teams and manages client fund

Andrew Craig

Position: Partner Age: 42 Qualifications: MCIBS Career history: Clydesdale Bank, 1988 to 1999; Bank of Scotland, 1999 to 2004; Aberdeen Asset Management, 2004 to 2009; Maven Capital Partners, 2009 onwards. Leads the central Scotland team.

Jock Gardiner

Position: Partner Age: 49 Qualifications: CA Career history: KPMG, 1988 to 1996; Aberdeen Asset Management, 1996 to 2009; Maven Capital Partners, 2009 onwards. Leads the Aberdeen team, specialising in energy sector investments across the UK.

Bill Kennedy

Position: Partner Age: 44 Qualifications: CA Career history: ABG, 1990 to 1994; Hodgson Martin, 1994 to 1996; Murray Johnstone, 1996 to 2001; State Street, 2001 to 2003; Aberdeen Asset Management, 2003 to 2009; Maven Capital Partners, 2009 onwards.

METIS PARTNERS

Trinity House, 33 Lynedoch Street, Glasgow G3 6AA Telephone: 0141 353 3011 Email: enquiries@metispartners.com Website: www.metispartners.com Office location: Glasgow, Berkeley USA Deal types undertaken: IP-backed fundraising, IP valuation and sales; IP-focused business restructuring; IP due diligence.

Metis Partners is an award-winning, multi-disciplinary IP firm with a proven track record of helping companies revolutionise their ROI on IP assets such as software, patents, brands, know-how and trade secrets by putting them on the balance sheet or transforming these assets into cash. Although these IP assets frequently underpin a business’s competitive advantage, they are often undervalued and unprotected. Metis Partners has helped clients put IP assets on the balance sheet, raise new money and restructure existing debt using IP assets as security, and has valued and sold IP assets in a range of scenarios and sectors. Additionally, Metis Partners offers IP due diligence for both investors and in M&A scenarios, and provides IP strategy advice to clients focused on undervalued or overlooked IP assets, helping clients significantly increase the valuation of a business prior to exit.

Stephen Robertson

Position: Founder Age: 47 Qualifications: LLB, CA Career history: Acknowledged as one of the “world’s 300 leading IP strategists” by IAM Magazine, he has almost 20 years’ experience in corporate finance and was previously FD of a technology business with a challenging IP portfolio. He has experience advising both SMEs and PLCs and has worked primarily on IP backed fundraisings, IP valuations, investor due diligence assignments and other deals across Europe and the US in the last 12 months. Recent deals: Supported Clydesdale Bank Growth Finance team, Boost&Co., Energy Ventures, Front Row Energy Partners, P2i and Plastic Logic.

Nat Baldwin

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Position: Head of corporate recovery and IP sales Age: 30 Qualifications: LLB (Hons), DipLP Career history: As head of corporate recovery Nat assists insolvency practitioners across Europe recovering maximum value from IP assets for creditors.

This is done through either IP sale or valuation. He also heads up solvent IP sale assignments, often selling non-core assets for corporates. Qualified in law after training at Pinsent Masons where he gained a broad commercial experience covering many sectors and working with a diverse range of clients, from online retailers to high-street banks. He specialised in corporate, banking, commercial and intellectual property work. Recent deals: Internacionale, Secure Electrans, WeeWorld, Ortak & Barnsby.

Josef Geoola

Position: Due diligence manager Age: 32 Qualifications: BSc (microbiology), MSc (bus. development & IAM) Career history: Has a degree from one of Europe’s most highly recognised schools in IP-related studies and eight years of experience in IP management within life sciences and agriculture. At Metis Partners, he is responsible for conducting IP due diligence exercises and IP landscapes on behalf of investors and lenders, ahead of funding, M&A and JV transactions with the goal of identifying IP risks which could determinately impact downstream value of a target’s IP. Josef’s experience extends to working with various companies in developing IP strategies, implementing organisational IP management practices, setting up IPMS systems for managing innovation, as well as structuring and negotiating various high-value IP licensing and commercial transactions in the US and EMEA. Recent deals: Supported Clydesdale Bank Growth Finance team, Boost&Co., Energy Ventures, and Front Row Energy Partners.

NEVIS CAPITAL LLP

Cadder House, 160 Clober Road, Milngavie, Glasgow G62 7LW Telephone: 0141 248 1200 Email: enquiries@neviscapital.co.uk Website: www.neviscapital.co.uk Office location: Glasgow Deal types undertaken: Acquisition; MBO; MBI; growth finance; cash out; working capital; refinancing; restructuring.

Nevis Capital LLP is an entrepreneurial equity firm which invests in small and medium sized businesses across the UK. Whilst our heritage is in industrial and business services, we have an appetite to back quality businesses across most sectors. We are flexible in our approach and will tailor a deal to meet the vendor’s objectives. We will buy businesses outright, provide a partial exit to vendors who want to stay involved, back management teams to complete a buy-out or provide growth funding. We are focused on backing strong management teams in profitable, established businesses with a deal value up to £10m.

Brian Aitken

James Pirrie.

Position: Partner Age: 41 Qualifications: BA, CA Career history: PricewaterhouseCoopers, 1993 to 2007, director of corporate finance, advising on mid-market M&A deals across the UK. Established Nevis Capital in 2007 with John and

James Pirrie

Position: Partner Age: 54 Qualifications: BAcc, CA Career history: Co-founded LCH Generators in 1980 and qualified as a chartered accountant in 1984. Finalist in Ernst & Young Entrepreneur of the Year Awards 2004, finalist in Entrepreneurial Exchange’s Annual Awards 2006. Sold LCH Generators to Speedy Hire for £62m in 2006.

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John Pirrie

Position: Partner Age: 56 Career history: Co-founded LCH Generators after successful career in marine engine sales, and was managing director. Finalist in the Ernst & Young Entrepreneur of the Year Awards in 2004 and finalist in the Entrepreneurial Exchange’s Annual Awards in 2006. Sold LCH Generators to Speedy Hire for £62m in 2006.

Ian Buchan

Position: Director Age: 33 Qualifications: BCom, CA Career history: Joined Nevis in 2008; previously spent a year working for Clinton Hunter Development Initiative in Malawi. Prior to that, five years with PricewaterhouseCoopers, latterly as manager in the corporate finance team.

Recent team deals: MBO of Dieselec Generators and subsequent acquisition of Thistle Generators; investment in Clyde Space; sale of investment in Weston Transport Ltd; MBO of James Ramsay (Glasgow) Ltd; sale of Apex Generators to HSS Hire; sale of The Micro Spring and Presswork Company to Indutrade SA.

PANORAMIC GROWTH EQUITY

140 West George Street, Glasgow G2 2HG Telephone: 0141 331 5100 Email: team@pgequity.com Website: www.pgequity.com Office locations: Glasgow, London Deal types undertaken: MBO/MBI/BIMBO; refinancing; development finance.

Panoramic Growth Equity is an independent private equity firm focused on providing “growth equity for growth companies”.

Panoramic was founded by its three partners in 2009 to increase the supply of equity capital to UK SMEs. Panoramic provides growth companies with the capital, expertise and support to significantly increase shareholder value, working in partnership with the teams it backs. The firm’s first fund, the Panoramic ECF1, is presently being invested into fast-growth development capital opportunities in the UK. Panoramic was one of the first UK private equity firms to become a signatory to the United Nations Principles for Responsible Investment.

Stephen Campbell

Position: Partner Qualifications: CA, CFA Career history: Worked in Boston and Chicago after qualifying with Pricewaterhouse Coopers where he specialised in broadcasting (TV/radio) and telecommunications transactions. He has been involved in a number of MBOs both in the UK and the US with sector experience in specialist manufacturing, business services and food & drink. Recent deals: Cascade Technologies, UIB plc, Heck Foods.

PENTECH VENTURES LLP

Telephone: 0131 240 8280 Fax: 0131 538 5716 Email: info@pentechvc.comWebsite: www.pentechvc.com Office locations: Edinburgh Deal types undertaken: Early stage/start-up; growth capital; development finance.

Pentech is a venture capital firm which provides funding for technology companies throughout the UK. It specialises in software, and specifically Internet, social media, digital media and mobile, and its portfolio includes companies such as Maxymiser, FanDuel, SecretSales and Nutmeg. In July 2014, Pentech was awarded the mandate to manage a new suite of funds on behalf of Invest Northern Ireland, called techstart NI, which provides support for seed and early stage technology businesses. Pentech now manages funds totalling almost £100m.

Craig Anderson

Position: Partner Age: 45 Qualifications: CA Career history: Nine years with Arthur Andersen. Senior management roles at highgrowth businesses (Kwik-Fit, Voxar, Nallatech) through to exit, including CFO, COO and CEO. Joined Pentech 2009. Recent deals: Metaforic, Nutmeg, SecretSales.

Eddie Anderson

Position: Partner Age: 50 Qualifications: BSc (Hons) Career history: Founding partner of Pentech with 20 years’ experience of building innovative software companies and products, including founder and CEO of OST, which was sold to Wind River in 1998.

Recent deals: Outplay Entertainment.

Sandy McKinnon

Position: Partner Age: 51 Qualifications: PhD Career history: 20 years’ experience of commercialising technology innovations, including spin-out of 12 companies from Heriot-Watt University.

Previously ran the Advance Technology Group at Scientific Generics. Joined Pentech in 2001. Recent deals: Certivox, Acunu.

Marc Moens

Position: Partner Age: 56 Qualifications: PhD Career history: Ran the Language Technology Group at University of Edinburgh for ten years, then founder and CEO of Rhetorical Group through to exit. Joined Pentech in 2008. Recent deals: Maxymiser, Fanduel, Struq, Semetric.

Hal Wilson

Position: Partner Age: 48 Qualifications: CA Career history: Eight years CF experience with PwC and eighteen years venture capital experience gained from the Northern Ireland and Irish markets. Joined Pentech in 2014. Recent deals: Inflyte

David Wilson

Position: Partner Qualifications: CA Career history: Has been involved with SMEs his whole career. A CA by training, he has worked extensively in SME corporate finance both as adviser and investor throughout the UK for the past 15 years. Recent deals: Concorde, Specialist Tours, Edesix.

Malcolm Kpedekpo

Position: Partner Qualifications: MA, CA Career history: Qualified as a CA with KPMG in Aberdeen before spending five years working in Sydney, Australia, where he latterly specialised in corporate finance, primarily mergers and acquisitions and equity and debt capital raising for SMEs. Since returning to the UK in early 2007, he has been involved in a number of development capital investments both in the UK and Europe. Recent deals: Solfex Energy Systems, Dog Digital, Captify Media.

Jane Reoch

Position: Senior investment manager Qualifications: CA Career history: Qualified as a CA with Pricewaterhouse Coopers, where she spent five years, predominantly in transaction advisory services.

She moved into private equity in 2007 and has worked across a number of funds, including the Cass Entrepreneurship Fund and the Business Growth Fund. She holds a first class Business degree from the University of Edinburgh, and is a mentor for the Prince’s Trust. She is based in Panoramic’s London office. Recent deals: Cloud Business, Alva Reputation Analysis, Captify Media, Edesix, Heck Foods.

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QMPF

Telephone: 0131 222 2600 Fax: 0131 222 2699 Website: www.qmpf.co.uk Office locations: Edinburgh, London Deal types undertaken: Acquisition/disposal; project valuations; refinancing; development finance; project/PFI finance; renewables financing.

QMPF is a leading independent corporate finance adviser focussed on the education, renewables and infrastructure sectors. We are distinguished by the high quality of our advice, the strength and experience of our advisers, our long-term client relationships and our consistent, successful results. We advise private and public companies, infrastructure and sovereign wealth funds, private equity investors, universities, colleges and public sector bodies on debt and equity funding, restructuring, refinancing and renewables/infrastructure financing.

Graeme Aithie

Position: Associate director Age: 35 Qualifications: MA, CA Career history: Qualified at PwC in London in 2006 before joining Quayle Munro in 2008 and QMPF on its formation in 2012.

Specialises in debt financing, investment appraisal and valuation of infrastructure projects – with a current focus on the education sector and student accommodation investment. Recent deals: Various debt financings, plus University of Edinburgh’s Holyrood Rd student accommodation project, funded by a wrapped bond issue and the University of Salford’s £81m project which was funded by a longdated lease from a pension institution.

Stephen Bell

Position: Partner Age: 48 Qualifications: BEng (1st Class Hons), MPhil, MBA Career history: Joined Quayle Munro 2001 from FirstGroup. Stephen specialises in advising education clients and other public sector bodies on funding and project structuring.

Recent deals: Advised Bangor University on the sourcing and negotiation of a £45m loan facility from the EIB, University of Edinburgh’s Holyrood £81m student accommodation project and University of Sussex’s 2000 bed student accommodation project.

Clare Lacey

Position: Partner Age: 38 Qualifications: BA (Hons) Economics and Politics, CA Career history: Joined Quayle Munro in 2006 from PricewaterhouseCoopers and QMPF on its establishment in 2012.

Specialises in the structuring, financing and acquisition/disposal of infrastructure and renewable energy assets. Recent deals: Adviser to Renewable Energy Generation on: project financing two onshore wind farms, crowdfunding a single turbine wind farm and the sale of a number of renewable energy assets.

Currently adviser to: an infrastructure fund on the acquisition and financing of a 26MW consent wind farm, a Scottish estate on the funding of its renewable energy portfolio and an estate owner on his shareholding in a consented wind farm.

Peter Lyons

Position: Director Age: 34 Qualifications: MA (Hons), CFA Career History: Joined Quayle Munro in 2005, having previously worked with Lazards and joined QMPF on its establishment in 2012.

Specialises in advising on funding and project structuring across the education and infrastructure sectors. Recent deals: Advised the Royal College of Music on its £45m student accommodation transaction and the University of London on its £140m redevelopment of the Cartwright Gardens student residence scheme.

Neil Thomson

Position: Associate director Age: 44 Qualifications: B.Com (Hons), MSc Career history: Joined PwC in London in 1994 specialising in business modelling and then worked with the Bank of Scotland in Edinburgh before joining Quayle Munro in June 2007 and QMPF on its formation in 2012. Specialises in the structuring, financing and acquisition/ disposal of renewable energy assets. Recent deals: Adviser to various on- shore wind farm developers/investors, including John Laing and Green Power, on modelling, structuring and financing renewable projects. Advising the University of St Andrews on its biomass project.

who value its strategic and commercial input and ability to follow through to execution. In addition to an in-house team with global multi-sector experience, Quest benefits from an international network of thought leaders, investors and world-class professional firms built up over years of delivering a first-class service to clients.

Marcus Noble

Position: Director Career history: With over 20 years’ experience leading and advising businesses at board level, Marcus brings a unique skill set to the team. He has conducted business in the US, Middle East, Asia and Europe. Marcus has a strong specialisation in technology and the use of technology to gain the competitive advantage and has advised the boards of Nasdaq and LSE-listed technology businesses on business strategy. Marcus founded Quest in 2001.

OTHERS

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IN ASSOCIATION WITH

Scott Carnegie

Position: Director Qualifications: CA LLB (Hons) Career history: A CA with more than 25 years’ experience of advising on fundraising and business restructuring for small and medium-sized enterprises. During that time, he has also held several executive director roles with client companies giving him hands-on experience in running businesses in several market sectors. He continues to sit on many boards in both executive and non-executive capacities. He is chairman of Discovery Investment Fund – an angel group focused on start-up and early stage investments – which he founded in 2006. In 2013 he founded and is chairman of London Scottish Investment Partners, an angel group which focuses on helping later stage companies to grow and exit at value.

Stuart Mitchell

Position: Associate Qualifications: CA Career history: Stuart is a CA and joined Quest in 2010 from PwC LLP. Stuart has significant experience guiding clients through transformational events. His sector expertise includes energy (oil and gas and renewables) and technology. Stuart has a key role in the delivery of Quest’s corporate finance offering and also holds a number of executive directorships. He is an expert in assisting with the preparation of business plans and financial models.

Andrew Watson

Position: Partner Age: 54 Qualifications: BCom (Hons) Career history: Over 30 years’ experience in advising private and public sector clients on all aspects of structuring and financing. He joined QMPF on its establishment in 2012, having previously worked with Quayle Munro since February 2004. Recent deals: Advising corporates, universities and other public sector bodies throughout the UK on funding and strategic investment decisions.

Moray Watt

Position: Partner Age: 48 Qualifications: BA in Accountancy and Finance, CA Career history: With almost 20 years’ experience in project finance, initially in the NHS, Moray has been advising both private and public sector clients on structuring and financing of a broad range of infrastructure projects. He joined QMPF on its establishment in 2012, having previously worked with Quayle Munro since 1999.

Recent deals: Advising East Central hub on all its forthcoming revenue funded projects, advising NHS Orkney on its new Balfour Hospital project, advising the successful bidder on the first Priory Schools Building Programme project and bidding several social infrastructure projects in the Republic of Ireland.

QUEST CORPORATE LTD

SCOTTISH EQUITY PARTNERS (SEP)

17 Blythswood Square, Glasgow G2 4AD Telephone: 0141 273 4000 Fax: 0141 273 4001 Email: enquiries@sep.co.uk Website: www.sep.co.uk Office locations: Glasgow, Edinburgh, London Deal types undertaken: Growth equity and venture capital.

Scottish Equity Partners (SEP) is a leading venture capital firm with a distinguished track record of successful investing. It invests in innovative, high-growth companies across the UK (and, where appropriate, Europe) in a wide range of sectors, including e-commerce, digital media, IT services, software, healthcare IT, medical devices, “cleantech” and energy. SEP typically invests up to £20m in growth stage technology or technology enabled businesses either as sole or lead investor. A range of transactions can be considered, including expansion capital, replacement capital, technology MBOs and MBIs. SEP’s investment team is one of the most experienced in Europe and operates out of offices in Glasgow, Edinburgh and London. As well as primary venture capital funds, SEP also manages secondary and infrastructure finance funds with a specific focus on energy. Investors in SEP’s limited partnership funds include global financial institutions, alternative asset management companies, pension funds, family offices and major corporates.

Telephone: 0131 225 6488 Email: info@questcorporate.com Website: www.questcorporate.com Office location: Edinburgh Deal types undertaken: MBO/MBI, refinancing, mergers and acquisitions, development finance, fundraising, corporate recovery/reconstruction, turnaround, interim management services.

Calum Paterson

Quest Corporate Ltd provides a range of corporate finance and boutique advisory services to businesses throughout the UK. Quest Corporate specialises in growth funding in the £0.5m to £30m range, corporate restructuring, M&A services, equity realisation. Quest is frequently engaged by both shareholders and management

Position: Partner Career history: CA training with Moores Rowland. Investment director with 3i prior to joining SEP in 2001.

Deputy head of SEP investment team. SEP investments include MATCHESFASHION.COM,Car Loan 4U, Pulsant and Workshare.

Position: Managing partner Career history: CA training with Ernst & Young. Over 20 years in private equity. Responsible for managing the firm and heading its investment team. Non-executive director at Skyscanner and TotallyMoney.com.

Andrew Davison

DECEMBER 2014 CA MAGAZINE

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IN ASSOCIATION WITH

Lorna Foy

Position: Chief financial officer Career history: Joined SEP in 2005 from Craig Corporate. A qualified CA, she has responsibility for SEP’s finance and administrative functions and is heavily involved in investor relations and fund reporting.

SIMMONS & COMPANY INTERNATIONAL

Telephone: 01224 202300 Fax: 01224 202303 Email: info@simmonsco-intl.co.uk Website: www.simmonsco-intl.com Office locations: Aberdeen, London, Dubai, Houston Deal types undertaken: Early stage/start-up; acquisition/disposal; MBO/MBI/BIMBO; refinancing; development finance; listing – AIM, UK stock exchange, overseas.

Simmons & Company International is a leading specialist corporate finance adviser dedicated to the energy industry. With offices in Aberdeen, London, Dubai and Houston, Simmons advises on the full range of M&A, divestiture, financing and public offering transactions and conducts sector research and securities trading activities.

The firm’s clients range from small privately held companies to multi-billion dollar public entities. Simmons & Company International Ltd (SCIL) is responsible for the company’s eastern hemisphere operation, which is headquartered in Aberdeen.

Established in 1999, SCIL presently employs more than 50 staff.

Simmons Private Equity (“SPE”) consists of two funds. SPE raised its first fund in 2008 in order to invest in small oil and gas service companies in Europe. Fund I has been successfully deployed with four portfolio companies still remaining (out of seven investments). Fund I is now closed to new stand-alone investments.

The second fund provides capital to support a “buy and build” strategy in small to medium sized oil service businesses. The strategy is to build 6 – 7 group companies in key sub-sectors, creating value through the knowledge and network of Simmons.

The Fund will lead investments but will typically seek a co-investment partner and / or significant management participation. Typical equity investment for any one investment is between £7.5m and £10m.

Colin Welsh

Position: Chief executive officer Age: 54 Qualifications: MA Economics, Accountancy and Law, CA Career history: Ex Ernst & Whinney, Touche Ross and founder of RMD Aberdeen. Led RMD’s energy services team before joining Simmons in 1999 to establish its eastern hemisphere operation. Responsible for Simmons’ investment banking activities outside of the Americas including Simmons Private Equity from its Aberdeen hub.

Mike Beveridge

Position: Managing director Age: 50 Qualifications: MA Accountancy with Economics, CA Career history: Qualified as a CA with Ernst & Whinney in 1988. Joined RMD corporate finance in 1990 and became a partner in 1995. Founding director of Simmons & Company International’s eastern hemisphere business in 1999. Recent deals: Sales of Ferguson Group Ltd to Brambles Ltd; Varel International Energy Services Inc to Sandvik Inc; Weatherford International plcs Pipeline and Process business to Baker Hughes Incorporated; Stork Technical Services’ subsea business to N-Sea Group BV; the acquisition by Ramco Acquisition Ltd of Pipetech International AS; and Blue Water Energy LLP’s investment for a 51 per cent stake in Halvorsen Group AS.

Nick Dalgarno

Position: Managing director Age: 42 Qualifications: LLB (Hons), DipLP Career history: Worked as a corporate lawyer specialising in oil service M&A transactions at Paull & Williamsons before joining ASCO plc as VP commercial and legal in 2000. Joined corporate finance team of Simmons & Company International Ltd in November 2003. Recent deals: Sales of Reservoir Group LLC to ALS; ICR Group Ltd to Graphite Capital Management LLP; Lamprell subsidiary “INSPEC” to Intertek; KRG to Proserv and the acquisitions of NPS by a Middle Eastern consortium of investors led by Fajr Capital and PD&MS Holdings Ltd by Inflexion Private Equity Partners LLP.

Eddie Leigh

Position: Managing director Age: 49 Qualifications: BA Business Studies, CA Career history: Qualified as a CA with Coopers & Lybrand in 1990. Joined RMD’s corporate finance team in 1992, becoming a partner in 1997. Founding director of Simmons & Company International’s eastern hemisphere business in 1999. Recent deals: Sales of Coates Offshore to SCF Partners/Centurion Group; Scotoil Services to Tradebe; and the acquisition of National Petroleum Services by a Fajr Capital led Consortium.

CA MAGAZINE DECEMBER 2014

Craig Lyon

Position: Managing director Age: 46 Qualifications: MA, ACA Career history: Manager with Arthur Andersen prior to joining RMD/Deloitte & Touche as a senior manager in 1998. Joined Simmons & Company International Ltd in 2000.

Recent deals: Sales of Ferguson Group Ltd to Brambles Ltd; FEESA Ltd to KBC Advanced Technologies plc; Varel International Energy Services Inc to Sandvik Inc; Kreuz Holdings Ltd to Headland Capital Partners; and Weatherford International plc’s pipeline and process business to Baker Hughes Incorporated.

Ritchie Clark

Position: Director Age: 37 Qualifications: BA (Hons) Accounting and Finance, CA Career history: Qualified as a CA with Deloitte before joining Bank of Scotland in 2002 in its structured finance division and latterly as a director within integrated finance. Joined Simmons & Company International Ltd in 2009.

Recent deals: Sales of RMEC Ltd and RMEC Rentals Ltd to Maven Capital Partners UK LLP; ICR Group Ltd to Graphite Capital Management LLP; and the acquisition of PD&MS Holdings Ltd by Inflexion Private Equity Partners LLP.

Michael Willett

Position: Director Age: 38 Qualifications: BEng (Hons), CA Career history: Qualified as a CA with Grant Thornton and subsequently spent four years with RBS before joining Simmons & Company International Ltd in April 2008. Recent deals: Sale of Varel International Energy Services Inc to Sandvik Inc.

Ross Atkinson

Position: Director Age: 36 Qualifications: LLB (Hons), DipLP Career history: Joined Simmons & Company International Ltd in 2008. Previously worked as a corporate lawyer specialising in energy sector M&A at Ledingham Chalmers and McGrigors LLP. Recent deals: Sales of Weatherford International plc’s pipeline and process business to Baker Hughes Incorporated; Ramco Holdings Ltd to LDC; Stork Technical Services’ subsea business to N-Sea Group BV; and the acquisition by Ramco Acquisition Ltd of Pipetech International AS.

Jeff Corray

Position: Head of private equity Age: 51 Qualifications: B Economics, CA Career history: Ex KPMG. Led KPMG’s oil and gas services team before joining ITS Energy Services in 2007 as CEO. Joined Simmons in March 2013 to head up Simmons Private Equity.

Recent deals: 2nd Fund now raised and first two investments made, Safehouse Habitats and Caley Ocean Systems. Sale of Xodus Group also made from the portfolio of Fund 1.

TINDERCAPITAL BANGLADESH LTD Apartment A4, House 32, Road 10B, Banani, Dhaka 1213, Bangladesh Telephone: +88 01742 252472 Email: info@tindercapital.com Website: www.tindercapital.com Deal types undertaken: Early stage/start-up; development finance.

Tindercapital’s purpose is to ignite businesses which are ethically run and tangibly benefit the poor. We do this by connecting entrepreneurs in Bangladesh with banks, investors and business mentors. Tindercapital is currently working on OPEN, an accelerator programme for rural small and growing businesses which need between $20,000 and $750,000 to scale. Tindercapital believes that enterprise and innovation have key roles to play in providing good jobs and combating poverty. We welcome enquiries from entrepreneurs, philanthropists, impact investors and like-minded organisations.

Jerry Nicholson

Position: Managing director Age: 41 Qualifications: CA, MA Career history: PwC, EY, The Evaluation Partnership.

Recent deals: Oasis Coffins.

KING OF DEALMAKERS* We are leading players in the corporate finance market having been recognised as the top dealmakers in Scotland*, both in terms of deals initiated and deals completed (by accountancy firms), every year since 2005 and having completed more than 450 transactions with a combined deal value of over £4.5bn. * Based on us being top of the Scottish Business Insider deal tables each year from 2005-2014.

(Latest available figures to end of Q2 for 2014).

STRATEGY • M&A ADVISORY • FUND-RAISING • TRANSACTION SUPPORT ANDERSON ANDERSON & BROWN LLP CHARTERED ACCOUNTANTS corp.fin@aab.co.uk www.aab.co.uk

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