Bishop Fleming Corporate Finance Newsletter - Summer 2008
Case Study: Poolearth’s acquisition of Alchem Healthcare
The recent flurry of deal activity in April resulted in Bishop Fleming’s corporate finance team handling the last known deal to complete in the South West before the 5th April 2008 CGT deadline. Plymouth based pharmacy group Poolearth Limited, a client of our Truro office, completed the acquisition of four pharmacies in Torquay from the Alchem Group, at 10.45pm on Saturday 5th April.
This was a complex transaction involving the extraction of four
non-Torquay pharmacies from the business in a back-to-back
transaction requiring input from
three firms of accountants and
three firms of lawyers. Poolearth
management saw this as an
excellent opportunity to offer
quality services to the local
community in Torquay, based
on their extensive knowledge of
pharmacy.
The complexity of this transaction and the fact that we were dealing with the interests of our client against managing the expectations of two separate sets of parties on the vendor’s side meant that this transaction was always going to be one of those that would be last to get over the finish line. The pressure was really on with advisers working all hours in the period up to completion. It was a credit to all those involved and showed real commitment to get the job done for the client.
Poolearth Limited’s Ron Kirk commented, “This was the first company acquisition for us. We were pleased to appoint Bishop Fleming who guided us throughout, thus making the process of purchasing the company seem far less daunting.”
These are a selection of the transactions completed by Bishop Fleming Corporate Finance in the last twelve months:
Lead Advisor to Hotelscene Group Limited on the acquisition of Earlylease Limited - second round MBO | 
s21 Authorisation of financial promotion supporting public share offer and of new shares on the PLUS market. Transaction value £1m | 
Lead Advisor to Vital Group on the acquisition of L Batley Pet Products Limited |
Lead Advisor to Stonehaven Healthcare on the acquisition of The Manor (Exminster) Limited | 
Lead Advisor to management on the MBO of Jerrett Collins Ltd | 
Lead Advisor to management on the MBO of Iscavia Limited |
Lead Advisor to shareholders on the sale of Robson Liddle Limited to NPS | 
Advice to shareholders on the sale of Digita Group to Thomson Reuters |
Lead Advisor to Poolearth Limited on the acquisition of Alchem Healthcare |
formoreinformation
Bishop Fleming Corporate Finance has a team of specialists experienced in corporate transactions for the owner-managed business as well as companies listed on AIM and PLUS markets including: | Robert Davey | Chris Biggs |
Jonathan Williams | Andy Hawkes | Kim Edhouse |