Kenny scoops dealmaker prize
Tony Kenny of Momentum Corporate Finance has won the big prize at Insider's South West Dealmakers Awards 2011. Kenny was named Dealmaker of the Year in front of about 300 fellow professionals at the Grand by Thistle, Bristol. The event, which was compered by broadcaster Gyles Brandreth, recognised the hard work and talent of the region's dealmaking community after a year where the market showed signs of recovery.
Kenny was lauded in part for seeing through the sale of Tocris earlier this year. Tocris is a Bristol-based supplier of chemical products for life sciences research and was sold to Techne Corporation for £75m in May. The deal was striking for the higher-than-normal multiples paid by the US-based acquirer.
Kenny told Insider: "Following several unsolicited approaches for Tocris, we initiated a discreet international auction process for the business. We built a relationship and spoke with a number of parties. I think I ended up doing about 15 trips to the US, as that’s where many of the main players is this industry are.
"Momentum has been involved with Tocris since December 2006, when we helped with a management buyout."
Dealmaker of the Year
Winner: Tony Kenny, Momentum Corporate Finance
Sponsored by Centric Commercial Finance
Deal of the Year
Winner: A-Gas management buyout, backed by private equity (LDC) and debt
LDC took an equity stake in the business, and debt funding came from Lloyds Bank Corporate Markets, and the Bristol offices of HSBC and RBS. Advisers who got involved included KPMG, Osborne Clarke and Burges Salmon.
Shortlisted: Tocris, an all cash sale to Techne Corp; SuperGroup, listing on the LSE main market; Glenside Manor Healthcare Services MBO, backed by private equity (Bowmark Capital) and debt
Sponsored by PwC
Corporate Finance Advisory Team of the Year
Winner: Momentum Corporate Finance
Another win for Momentum, which has clearly caught everyone's eye with its recent involvement in the sale of Tocris Bioscience to Techne Corp.
Shortlisted: Deloitte, Target Corporate Finance, KPMG
Sponsored by Burges Salmon
Asset based Lender of the Year
Winner: Lloyds Commercial Finance
Lloyds Commercial Finance won a lot of plaudits in this year's voting. Clearly the team is doing a lot right. Asset based lending has grown in prominence as a financing option for certain businesses.
Shortlisted: Ultimate Finance, Centric Commercial Finance
Sponsored by Jones Lang LaSalle
Banking Team of the Year
Winner: Lloyds Banking Group
A familiar name to you all. Lloyds keeps winning here in the South West. That's testament to the strength of its team here, and the range of businesses it helps.
Shortlisted: RBS, HSBC, Santander
Sponsored by GoIndustry DoveBid
Venture Capitalist/Private Equity House of the Year
Winner: LDC
LDC won through, having put money into some great businesses in 2010 and this year. The roll-call includes AIM Aviation and its recent investment in A-Gas, in an MBO that valued the business at £70m.
Shortlisted: Palatine Private Equity, Eden Ventures, Gresham Private Equity
Sponsored by Ashfords Solicitors
Corporate Law Firm of the Year
Winner: Osborne Clarke
Osborne Clarke has been involved in some of the key deals in the South West in the past 18 months, and it boasts some of the leading corporate finance lawyers active in the region.
Shortlisted: Burges Salmon, Michelmores
Sponsored by Lloyds Bank Corporate Markets
Company of the Year
Winner: SuperGroup
SuperGroup has had a super time of it. The business was established by Julian Dunkerton as Cult Clothing in Cheltenham in 1985, and it’s never looked back. It floated on the London Stock Exchange in March 2010 and its share price has been on the up since then as the company has grown.
Shortlisted: Gooch & Housego, Mears, Green Compliance
Sponsored by Mazars