JDC completes two East Anglia deals

JDC Corporate Finance has announced the completion of two disposals within a three-day period.

Workplace equipment provider ESE Direct, which has been operating in Norwich since 1975, was snapped up earlier this week by HC Slingsby in a £3.9m deal.

The business recorded a pre-tax profit of £351,577 on sales of £6.5m in the year to 31 December 2014.

JDC carried out a competitive marketing process, including international competitors in Portugal, Germany and Sweden, before finalising terms with Slingsby.

The second transaction was for the acquisition of Bowden & Knights Livestock Services, a specialist animal welfare company based in Thetford, Norfolk. The selling shareholders had more than 60 years of knowledge and experience in the poultry industry.

JDC said the Elta Group was identified as the preferred bidder following an extensive marketing campaign. The Elta Group has a current turnover of around £100m, with group companies operating across four continents.

The financial value of the acquisition was undisclosed.

JDC Corporate Finance founder Jon Dodge said: "The successful completion of these two deals further illustrates the growing demand we are experiencing within the East Anglian market place. Both of these sales involved family run SME companies, yet our experienced transaction team and detailed marketing processes meant we attracted interest and offers from PLCs and international groups, reiterating that East Anglia is becoming an attractive region for investment.

"Having just celebrated our tenth anniversary, we are expecting 2015 to be one of the most buoyant years for M&A transactions, with our current pipeline forecasting a number of trade disposals and private equity investments in the next quarter. We fully expect this demand for quality businesses in Norfolk and Suffolk to continue throughout the remainder of the year."

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