Management Buyout at Paramount Interiors

By Raspberry Jim,

Untitled design-19Paramount Office Interiors Ltd, one of the UK’s leading workplace design, fit out and furniture specialists has today announced that the business has been acquired by its Management Team in a deal orchestrated by lead advisors Verde Corporate Finance and Greenaway Scott.

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

Award-winning Paramount Interiors, whose client list includes the Office for National Statistics, ITV, GoCompare, S4C, KPMG, The Royal Mint and the Welsh Rugby Union amongst others, is now aiming to build on the company’s success and explore future expansion plans and new markets.

Managing Director Richard Jones led the management team on the buy-out, having been appointed as MD at the end of 2017 with a vision of ensuring Paramount Interiors fulfils its potential by continuing to achieve year on year growth.

Previous owner Nigel Roberts will remain involved as the non-executive Chairman of Paramount Interiors in addition to his role as Director of Cardiff Parkway Developments Ltd, which earlier this year received the green-light from the Department of Transport for the development of a new business park and railway station at St Mellons in Cardiff.

Dealmakers

The deal was put together 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.

Greenaway Scott Group is the only multi-discipline professional services group in Wales that operates with a law firm and corporate finance lead advisory business within the same office and acting as one team. This multi-discipline approach enables it to provide a full service on transactions covering both the financial and legal elements as a combined and consistent approach.

Managing Director 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.

“The support and advice that both Verde Corporate Finance and Greenway Scott have provided throughout the MBO process has been outstanding and I would personally like to thank all involved.”

On the successful MBO of the industry-leading interiors firm, Verde Corporate Finance director Craig Blackmore said it was a “privilege” to assist Richard and his team.

He 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. It was a privilege to work
alongside them and we wish them every success.”

He went on to say: “We would also like to put on record our huge thanks to ABN Amro, who have worked swiftly, flexibly and with huge desire to make the project a success. ABN Amro are a great example of what we look for in a funding partner on this type of project.”

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. Equally, we were pleased to play our part in such a collaborative team of experts – all of whom put Paramount’s needs at the heart of our delivery.”

Nigel Greenaway, director of Greenaway Scott, echoed  Mr Blackmore’s sentiments.

He 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.”

New Verde CF director to ‘drive continued growth’

By Raspberry Jim,

An industry-leading accountant with two decades experience in the financial industry has been appointed as director of corporate finance boutique Verde Corporate Finance (CF).

Craig Blackmore, who joined the company as a consultant in July 2017, has been promoted to the senior role due to his input during the last six months.

Verde CF, which is part of the Greenaway Scott Group, specialises in providing advice around mergers and acquisitions, business finance and growth capital.

Mr Blackmore has over two decades of experience in the business sector as a commercially driven accountant.

Principally trained with Deloitte, an international accounting firm, he acted as a director in a mid-tier accounting practice, before moving on to take up executive and non-executive financial director positions with a number of SME businesses.

Mr Blackmore will lead Verde whilst also maintaining his roles as CFO at Global Welsh, a not for profit company whose aim is to connect the international diaspora of Wales, whilst continuing to coach on the Accelerated Growth Programme.

The role at Verde is an extension of his proven desire to connect with fast tracked and developing businesses throughout Wales and further afield internationally.

During his time at Verde CF, he has worked alongside commercial law firm Greenaway Scott, which is also part of the GS Group, in a strategic and collaborative partnership to combine services that provide a multi-disciplinary team solution. This one stop shop for corporate advisory is unique in Wales.

On his appointment Mr Blackmore said: “I am delighted to step up to the role as a director of Verde Corporate Finance, and very much look forward to working with co-director director Nigel Greenaway and integrating Verde within the wider Greenaway Scott Group.

“Verde Corporate Finance has seen solid growth over the past year, acting on a number of interesting transactions including MBO’s and growth funding.

“It has been a privilege to contribute to its growth over the past six months along with our talented team. I am excited to take on this new role and look forward to working towards driving further growth in Verde CF in 2018.”

Director of Greenaway Scott, Nigel Greenaway, said Mr Blackmore’s appointment would provide a more in depth and expert service for Verde CF’s growing client base and to build on the solid start since its inception in 2017.

He said: “Craig has been phenomenal in his role as consultant since starting at Verde CF last year. As such we were delighted to appoint him to the role of director to help drive Verde’s continued business ambitions even further this year. We look forward to working with him to make this a fantastic offering supporting businesses across the UK.”

Verde has also welcomed Joanna Porgozelska, who will act as a financial analyst for the corporate advisory firm. Director of Verde Craig Blackmore said he was thrilled to welcome Ms Porgozelska to the team.

He said: “The addition of Ms Porgozelska to the team reinforces the impressive growth that Verde has seen this year. We look forward to working with her on future projects and we are sure her experience will strengthen our offering.”

Verde Corporate Finance operates as an advisory boutique within the Greenaway Scott Group, a multi-disciplinary professional advisory business within the mergers and acquisition sector.

 

Leading business experts launch ‘exciting’ Cardiff advisory firm

By Raspberry Jim,

Leading business experts launch ‘exciting’ Cardiff advisory firm

Two of Cardiff’s leading corporate finance experts have joined forces to create an innovative advisory boutique supporting the region’s fastest growing businesses.

Founder and director of leading business advisory firm Greenaway Scott, Nigel Greenaway, has teamed up with financial stalwart Tom O’Brien to launch their new company Verde Corporate Finance.

The new joint venture will see both Mr Greenaway and Mr O’Brien combining their extensive industry expertise to help support the fast-growth business sector from start-up right through to development.

Verde Corporate Finance will operate as an advisory boutique within the Greenaway Scott Group, with the award-winning Cardiff-based firm taking a 51 per cent stake in the new joint venture.

Heading up the project is experienced corporate finance manager Tom O’Brien, who will act as lead advisor for the business. Mr O’Brien was previously corporate finance manager at award-winning Top 15 Group of UK Chartered Accountants UHY Hacker Young, after acting as acquisitions director for design practice HLN Group.

On the launch of the venture, Mr Greenaway, whose firm recently claimed the top Legal and Financial prize at the 2017 Cardiff Life Awards, said the launch marked the beginning of an “exciting new phase” for the business.

He said: “We are delighted to have partnered with Tom O’Brien to launch this exciting new venture which we feel will fit perfectly within the Greenaway Scott brand.

“Tom’s experience within the corporate finance industry is extremely impressive and something we feel will undoubtedly strengthen and add value to our new offering.

“Verde Corporate Finance will offer expert advice to a niche fast-growth business sector in Wales offering vital support to all levels of companies from start ups right through to established brands.

“We are delighted to welcome Tom to the Greenaway Scott family and look forward to taking this successful venture forward.”

The move comes after an already thriving period for Greenaway Scott, which provides corporate, commercial and intellectual property advice to companies across the life science, technology, pharmaceutical and IT sectors.

The Cardiff-based firm recently celebrated after receiving approval from the Solicitors Regulation Authority (SRA) to alter its structure to an Alternative Business Structure (ABS).

This will allow the thriving firm to operate within a group structure as a multi-disciplinary practice delivering other professional services, alongside its legal activity, in the future.

Greenaway Scott has also enjoyed unprecedented growth of 130 per cent over the past year with turnover soaring to an impressive £1,020,000 and staff numbers rising to 25.

Mr Greenaway added: “We look forward to watching the growth of Verde Corporate Finance throughout the year and seeing what exciting developments it brings.”