The Welsh firms raising millions, creating new jobs and acquiring rivals

Businesses across Wales are continuing to expand and raise growth finance.

And here we feature five businesses looking to expand after new ownership deals, as well as one firm looking to raise millions on the London Stock Exchange.

Creo Medical

Creo Medical

One of Wales’ leading life sciences firms, Creo Medical, has confirmed plans to raise what could be more than £20m to support its ambitious expansion plans.

The medical devices company which listed on London’s Alternative Investment Market in December 2016, has a market capitalisation of £100m.

In a statement to the London Stock Exchange the Chepstow-based surgical endoscopy specialist confirmed that its board has instructed advisers to commence work on a proposed placing of new ordinary shares to institutional and other investor.

The market update statement adds: “Initial board consideration was to raise in the region of £15-20 million but given investor feedback to date the board may choose to raise a higher amount than this.”

Creo said the money raised would enable it to continue to extend its training programme for clinicians, complete its development of the gastro intestinal suite of product and fund research and development into further applications of products and add distribution partners on a worldwide basis.

It said it would also accelerate product roll out by scaling up the current manufacturing capabilities.

And its board said it believes that additional funds would make it increasingly attractive prospect for strategic partners, as well as allowing for the exploration of possible strategic merger and acquisitions.

The medical devices company which listed on London’s Alternative Investment Market in December 2016, has a market capitalisation of £100m.

The Development Bank of Wales, through equity investments of around £5m by its predecessor Finance Wales, has a 16% stake in the business.

Paramount Interiors

Left to right Verde Corporate Finance director Craig Blackmore, Greenaway Scott director Nigel Greenaway, Paramount Interiors managing director Richard Jones, and Kelvin Thomas, director, Wales & West Deal Team at ABN AMRO.

Cardiff-based workplace design company, Paramount Office Interiors, has been acquired in a management buyout.

The transaction was backed with funding from ABN AMRO Commercial Finance and also follow-in investment from GS Ventures.

Paramount Interiors’ client list includes the Office for National Statistics, ITV, GoCompare, S4C, KPMG, the Royal Mint and the Welsh Rugby Union.

It is now aiming to build on the company’s success and explore future expansion plans and new markets.

Managing director Richard Jones led the buyout deal, the value of which has not been disclosed.

Previous owner Nigel Roberts will remain involved as the non-executive chairman and minority shareholder in addition to his role as director of Cardiff Parkway Developments. which last year received the green light from the Department of Transport for a new train station and major business park at St Mellons between Cardiff and Newport.

The deal was structured by Verde Corporate Finance (finance) and Greenaway Scott (legal).

Both advisory businesses are part of the multi-discipline Greenaway Scott Group, which also includes GS Ventures who provided follow-in equity investment for the management buyout.

Mr Jones said: “I am very excited about what the future will hold for Paramount, myself and the management team as a result of the MBO.

“We have an exceptional team of people, strengthened by our recent investment in new young talent within our sales and design teams, who take a huge amount of pride in working together with our clients to ensure we achieve the highest possible standards.

“The MBO allows us to invest further in our people, our facilities and the service that we provide to our clients to ensure that we continue to be one of the best in our field.”

Verde Corporate Finance director Craig Blackmore said: “Paramount Interiors has developed a UK-wide reputation for creating innovative workspaces that transform businesses, so we were delighted to be able to support them as they embark on the next phase of their journey.

“Just like Paramount’s interiors projects, the MBO was well-planned and executed smoothly and efficiently, and will no doubt enable Richard and his team to build on the fantastic work that Paramount Interiors is renowned for.

Kelvin Thomas, director, Wales & west deal team at ABN AMRO, said: “It was a pleasure to work with such a committed management team with a clear strategic vision for moving the business forward.”

Nigel Greenaway, director of Greenaway Scott, said:“We were delighted to assist Richard and the management team at Paramount, and also have shown our belief in the exciting future of the business by making a follow-in equity investment via GS Ventures into Paramount as part of the management buyout process.”

Camtronics Vale

Camtronics Vale has been acquired in a management buyout with the backing of a £400,000 loan from the Development Bank of Wales.

Led by managing director Paul Macleur, the senior management team have acquired the £2m turnover contract electronics manufacturing business from the parent company PhotonStar LED.

Based on Tredegar Business Park, Camtronics offers a full range of electronics manufacturing services and employs 31.

First established in 1993 as Novaspec, Camtronics was acquired by PhotonStar in 2011.

The management team includes managing director Paul Macleur who has been with the business for 17 years. He first joined as a test manager and has been managing Director since 2011.

Mr Macleur said: “We are delighted to have secured this investment from the Development Bank of Wales.

It puts Camtronics Vale in an excellent position to exploit our extensive growth potential in this, our 25th anniversary year of operations.

“We are looking forward to welcoming new customers whilst maintaining the levels of service and support that our existing customers, many of whom have been with us for more than ten years, value so highly.”

Also part of the team is Linda Cooper, a chartered certified accountant. She was with the business for five years as group financial controller before leaving in October 2017. She has now returned as finance director.

Also part of the team is Chris Gulliford, who is engineering manager. He first joined the business in 1996 in an operative role.

He now has overall responsibility for the production and engineering functions in his new role as operations director.

Senior investment executive Steve Galvin at the Development Bank of Wales said: “Camtronics is a perfect fit for the Wales Management Succession Fund.

“The purpose of the fund is to support succession planning and provide funding for management teams to buy into the business and also suit owners looking for an exit strategy.

“Our investment in Camtronics will secure the future of the business in Blaenau Gwent. They have significant growth potential and we wish them every success.”

The Print Centre Cardiff

The Print Centre

The Print Centre Cardiff has expanded through the acquisition of Sign and Display company Semaphore for an undisclosed sum.

The Print Centre has for the last t 16 years, run by husband and wife team Mark and Alison Williams with their son Christian now also part of the business.

The firm operates from four different retail sites and a factory that was purchased in Cardiff Bay in 2017 to launch its sign and display business.

Semaphore has been an instrumental figure in the signage market for over three decades and the intention of its founder and managing director John Marshall to retire has lead to the sale.

Print Centre director Mr Williams said: “We have acquired Semaphore with a view to increasing our offering to existing Print Centre clients and to maintain the history and reputation of the Semaphore brand.

“Semaphore has got a fantastic team of people, some who have been with the business for over 20 years and it has some of the most up to date equipment including direct to substrate printing.”

Semaphore will continue to trade under its own name with a brand refresh and will relocate in the next couple of months to Cardiff Bay where a second factory unit has been purchased.

J M Fabweld

Port Talbot based mechanical engineering firm J M Fabweld has been acquired in a management buyout

The buyout by long-term managers Rhys Howell and Lee Sexton was backed by Barclays with advice from Greenaway Scott, Verde Group and accountancy firm Graham Paul.

Mr Howell said: “This is a great opportunity for us to take Fabweld forward, building on the tireless work put in by the outgoing directors.

“As we grow we hope to create new employment opportunities in the local area and to further invest in our in-house capacity.”

Mr Sexton said: “With the buyout now complete we look forward to developing, and expanding, our current client base.”

Leanne Thomas, associate director of Greenaway Scott, said: “We were delighted to have had the opportunity to work with the management team throughout the process of the MBO and look forward to seeing the team develop the company’s full potential in the future.”

Source

https://www.walesonline.co.uk/business/business-news/welsh-firm-raising-millions-creating-14884205