Beavis Morgan 360 advises MM-Eye on its management buy-out

The management of MM-Eye have acquired 100 per cent of the company. Beavis Morgan 360 acted as lead transaction advisor, including on the valuation, strategy and due diligence.

Beavis Morgan 360 is pleased to announce that it has acted as lead advisor to the management of MM-Eye Limited (the Company) in the management buy-out (MBO) of the business from its Group holding.

Established in 2007, MM-Eye is a leading UK market research firm with a substantial client base and a proven track record for providing valuable insight to deliver accelerated business growth for clients.

Key Points:

  • Succession planning was uncertain, until the Directors initiated dialogue with the incumbent owners of the Company
  • Beavis Morgan 360 was engaged to advise on the valuation, strategy and due diligence, leading to the Directors proposing a deal structure that aimed to satisfy all parties’ priorities
  • Upon agreeing on a suitable valuation and mechanism, a deal was agreed 8 weeks after engagement. Solicitors were then appointed to execute all the legal documentation, resulting in the completion of the transaction on 30 June 2020.

MM-Eye has grown in reputation and has a number of blue-chip clients they advise and undertake market research for. The core leadership team, including Damien Field (Managing Director), Alison Philips (Client Service Director) and Debbie Fitzpatrick (Deputy Managing Director), has expanded the business with a focus on supporting and growing their clients by utilising pioneering techniques that set them apart from other agencies.

This same team showed the vision and entrepreneurial spirit when they approached their parent/holding company with the proposal to buy the business out of the Group holding. It was at this stage that Beavis Morgan 360 was appointed to guide and support Damien, Alison and Debbie through the transaction.

The timing of the deal provided its own unique challenges, with a worldwide pandemic resulting in isolation procedures, and well as a very uncertain commercial landscape. This did not deter the leadership team nor Beavis Morgan 360, and the negotiations, due diligence and financial modelling went ahead.

As with any transaction of this nature, there are always commercial, practical and emotional challenges. All parties worked seamlessly together to overcome any hurdles and reach an acceptable position for all concerned. The Heads of Terms were agreed in short order and the transaction completed on 30 June 2020.

Damien Field comments: “We are delighted with the remarkable timeframe in which we achieved a positive outcome for all. Having not done a deal like this before, Beavis Morgan 360’s input from a financial and due diligence perspective proved invaluable. This, coupled with their unique understanding of transactions of this nature and their emotional intelligence when it comes to dealing with SME businesses like MM-Eye, made a convoluted process appear seamless.”

Pieter van Rooyen, Managing Partner, Beavis Morgan 360, says: “We were delighted to work with MM-Eye and their other advisors on this transaction. This represents an excellent example of a team having the foresight to take a growing, successful business with no immediate succession plan, and implement a strategy which will now enable a strong and positive future. We wish Damien, Alison and Debbie all the very best and we look forward to seeing them lead MM-Eye to even greater heights.”

Beavis Morgan 360 is a Beavis Morgan group business, specialists in accounting, tax, restructuring, raising finance and business advice.

If you are considering a MBO, we can assist you with each stage of the process, and you can be assured that all of our discussions will be in confidence. For more information about our services or to arrange a free initial consultation, please contact Pieter van Rooyen or Peter Drown.