Members of the Tax, Business Advisory and Commercial teams at WR Partners provided financial and tax due diligence advice to Foresight Group on their acquisition of a majority stake in UPVC window manufacturer, Rooms & Views, headquartered in Flintshire.
The work on the deal was led by Neil Holtschke, Transaction Services Senior Manager and Andrew Hague, Partner in the Business Advisory team. Tax due diligence was undertaken by members of the firm’s specialist tax consultancy team (Charlie Thompson, Emma Williams and Dan Hayley) led by Tax Partner, Paul Brown.
The work undertaken focussed both on the historical financial and tax information in respect of the target group and on forecasts of future profitability and cash generation. A key area of focus was ensuring the business’ ongoing working capital needs could be met post completion. The WR Partners team worked in conjunction with the team from Foresight, management of the target company and other due diligence providers across various fields.
Neil Holtschke said “It was a great experience for the whole team to work with such a high profile and well-respected organisation like Foresight. The assignment was not without its challenges (they never are!) but we were able to work with all parties to give the investor the comfort they needed to make the investment. We are very proud to have been able to play our part in getting the deal over the line and it’s clear that the investment by Foresight will enable management to take what is already a great business to the next level.”
Charles O’Riordan, Investment Manager at Foresight Group said “It was a pleasure to work with Neil, Andrew, Paul and the team at WR Partners on Foresight’s investment into Rooms and Views. The whole team at WR Partners worked closely with R&V and Foresight to produce a high-quality report to support our investment and we hope to do more together in the future.”