Management Team
Regent Assay completed the buyout of Wealden and Eastbourne Lifeline (“Welbeing”). Welbeing had been set up by two local councils some years ago to provide telecare services to the people of the region. Telecare at its simplest is a remote monitoring service for vulnerable adults to help them retain independence and live in their own home. In the event of a problem in the home, an alarm is activated and the customer is instantly in touch with the contact centre who can alert friends and family or emergency services as necessary.
When Regent Assay met the management team of Welbeing, there was need for a recapitalisation of the business to take advantage of a consolidating market, coupled with a strengthening of the management team.
The resultant MBO / MBI which was financially supported by one of the two sponsoring councils has left the business independent, in a strong financial position and with an internationally experienced management team to take advantage of a growing sector.
Management Team
With a turnover of £15 million Ellisons is one of the UK’s leading suppliers to the UK’s hair and beauty industry. The Company employs circa 150 people at its Midlands operations in Coventry, Birmingham and Leicester and is a preferred supplier to: leading Day Spas, Health Farms, Health Clubs, Hotels, Salons and hair and beauty colleges worldwide.
Geoff Morris who led the MBO and acquired a controlling interest said:
“Regent Assay were instrumental in making this MBO happen. We had a few hiccups along the way and without their belief in us and their complete commitment to get the job done I am convinced the deal wouldn’t have happened.”
Management Team
We advised management on the MBO of Hereford based The Surveillance Group. Led by Tim Young this is the largest independent covert surveillance company in the UK. Comprising entirely of an elite group of over 40 ex-special forces personnel including Special Air Service (SAS), Special Boat Service (SBS) and The Royal Marines, the Company provides personal injury surveillance, professional witness programmes and special project services.
Commenting on the business Tim said:
“Levels of public awareness about how companies such as ours undertake surveillance is increasing and therefore our techniques and methods have to become more sophisticated. We actively encourage our teams to utilise their military training, to either ‘dig in’ or undertake close surveillance assisted by innovative covert camera and transmitter technology.”
IDE Systems
Regent Assay has advised on the acquisition of the business and assets from Elektron Eye Technology by IDE Vision. The principal asset acquired is the MPSII, which was the world’s first commercially viable, patent-protected macular pigment measurement device which is used to determine the state of the macular pigment and has been shown to indicate the level of risk of a person developing Aged Related Macular Degeneration.
IDE Vision is led by David Smith, a medical devices industry veteran of over 25 years and previously the CEO of Elektron Eye Technologies. He has also held other senior roles at Coopervision, Carl Zeiss, Biocompatibles International plc, Tenaxis Medical Inc and others. David is supported by a senior management team that includes Esben Sorenson, an ophthalmic industry veteran with experience at Coopervision, Visaq, MESL and Ciba Vision.
David Smith has stated that: “IDE’s vision is to develop the business internationally and to transition towards offering value-added easy to use and patient friendly systems which includes testing, selling supplements and monitoring the patient.”
Naismiths Limited
Regent Assay negotiated the transaction between the vendors and the management team in addition to helping raise bank funding to facilitate the deal and service the ongoing growth plans of the business.
Blane Perrotton, Managing Director of Naismiths, said “Mark and Greg have provided us all with excellent support and advice in relation to this transaction. Following on from their strategic review of the business in 2016, of which a number of key observations have been implemented for the better, we did not hesitate to involve them again.”
Mark Asplin, of Assay, said “We have worked closely with Naismiths for a period of time now and we are delighted to have helped facilitate a successful transaction to suit all stakeholders and transition Naismiths into its next chapter of successful growth and profitability. We look forward to continuing to support Naismiths in the future.”
Legal advice was provided by Gateley (vendors) and Freeths (management). ABN Amro supported the transaction with funding.
