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Profile Summer 2008 Newsletter

Hawsons Corporate Finance: An intermediary’s view

Large Picture

Pictured (L-R) Director Adam Ames, Partner Kevin Gregory and Associate Director Paul Fauset.

Hawsons Corporate Finance is one of the most active corporate finance teams in South Yorkshire.

The Hawsons practice was formed in Sheffield in the 1850s, but now has established offices in Doncaster and Northampton and has developed specific departments including audit and advisory, corporate finance, IT services, outsourced services, taxation and wealth management.

Hawsons Corporate Finance is lead by Partner Kevin Gregory, who joined the South Yorkshire practice in 2000. He is assisted by Director Adam Ames and Associate Director Paul Fauset.

Hawsons has been the lead advisor in eleven merger and acquisition transactions in the last 12 months, while performing financial due diligence on a further six transactions, and undertaking numerous finance raisings.

South Yorkshire Investment Fund has been involved in no less than six of these transactions, with further deals in the pipeline.

SYIF’s partnership with Hawsons was highlighted in the recent management buy-in (MBI) of Beta Engineering Services Ltd, where SYIF were joined by UK Steel Enterprise, Alliance & Leicester and Five Arrows to complete the transaction successfully.

SYIF’s approval gave comfort to other investors, spreading the risk and sharing in the investment appraisal.

Hawsons’ Corporate Finance Partner Kevin Gregory said: "SYIF’s strengths are their approachability, pragmatism and the range of investment products on offer. They have something to suit a wide range of investment scenarios with varying risk profiles, from technology start-up to acquisition finance.

"SYIF have consistently fulfilled their stated objective of being able to fill a fund "gap", providing finance as part of a total package with other investors, creating a tailored overall package.

"Another benefit with SYIF is the access to Mentorbank, providing our clients with invaluable mentor support to fill a skills gap. This in turn has contributed to making their businesses successful.

"What has always impressed us about SYIF is their openness and willingness to give us an early appraisal of potential projects. We would certainly recommend speaking to SYIF at an early stage to get a steer on the possible structure of a transaction.

"Our role as an intermediary is to manage the finance raising process, but crucially, we ensure that an investment opportunity is presented and structured in such a way as to be seen most favourably by investors such as SYIF.

"Corporate finance isn’t just about quantitative matters such as building complex forecasting models. The projections are meaningless without the qualitative narrative and business logic. We believe we have the technical skills and business acumen to give our clients the best possible chance of raising finance."

For more information about Hawsons, please visit www.hawsons.co.uk

Editor's Notes

About South Yorkshire Investment Fund

South Yorkshire Investment Fund  provided seedcorn, loan and equity linked investments, ranging from £15k to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.

Created as part of the Objective 1 programme, the Fund is a private and public sector business finance provider. The European Regional Development Fund and Yorkshire Forward are investors in the Fund.

South Yorkshire Investment Fund also provided access to Business Angel investments from the Yorkshire Association of Business Angels and Microloans through BiG Business Loan Fund and Donbac Microloan Fund.

Finance Yorkshire has now taken on responsibility for providing gap finance in Yorkshire and the Humber.

For further details please contact Suzanne Tinkler,  on 0845 649 0000.

South Yorkshire Investment Fund Ltd is a company limited by guarantee (Registered No 3936065). South Yorkshire Investment Fund comprises three sub funds, the South Yorkshire Investment Capital Fund, the South Yorkshire Investment Development Fund, which are each managed by YFM Venture Finance Limited, and the South Yorkshire Investment Small Business Fund, which is managed by Finance South Yorkshire Ltd. YFM Venture Finance Limited (Tel 0113 294 5000) and Finance South Yorkshire Ltd (Tel 01709 386 377) are each authorised and regulated by the Financial Services Authority. South Yorkshire Investment Fund also provides a number of services, which are not regulated by The Financial Services Authority. These include the pilot Seedcorn Fund, BiG Business Loan Fund, Mentorbank and access to the Donbac Microloan Fund. BiG Business Loan Fund is managed by Donbac Ltd (company registration No. 01925556) and Key Fund Yorkshire Ltd (Tel 0114 242 8900).