BoS backs Brandons acquisition
Bank of Scotland has backed Brandons, the UK's second largest turkey producer in its acquisition of Moorland Poultry, one of its biggest competitors. The deal creates a business with turnover in excess of £100m.
The acquisition was backed by a £30m funding package supplied by Bank of Scotland Corporate Banking in Birmingham and Wolverhampton. Deloitte & Touche in Birmingham undertook due diligence. Bank of Scotland was advised by Eversheds in Birmingham.
Advent Venture backs Am-Beo second round
UK technology venture capitalist Advent Venture Partners has led the E10m second round financing of Am-Beo, a leading developer of rating and revenue chain management software based in Ireland. Advent is investing E7.5m alongside existing backers ACT Venture Capital who have invested a further E2.5m.
The company will use the capital primarily to accelerate its sales and marketing activity and to support product development. Am-Beo is based in Galway in the Republic of Ireland and currently has 52 employees. Ion Equity were corporate finance advisors to Am-Beo on the deal.
Target leads E2m funding
Vectriz International, a Germany-based billing software maker has secured E2m in a second round of financing led by German private equity firm Target Partners. Target Partners led the first round financing of Vectriz and was joined in this latest round by Constantin & Bastian Venture Capital, Technologie-Beteiligungs and Vectriz's founders.
Vectriz's new CEO, Arno Schloesser, said the firm will use the funds to market the company's U2U/BS software and launch the Vectriz Merlin/BS software outside Germany.