Tughans has been shortlisted by Insider Media’s Northern Ireland Dealmakers Awards for Corporate Law Firm of the Year. We have also advised on seven deals shortlisted for ‘Deal of the Year’ and advised one shortlisted deal for the ‘Bank-funded Deal of the Year’.
Insider Media invited Northern Ireland based corporate finance firms, banks and private equity investors to submit entries in the ten award categories. Philip Cunliffe, Insider’s regional business editor, assembled a group of independent experts to scrutinise all the submissions. The judging panel determined the shortlists and the eventual winners of all the award categories.
Insider Media says “Tughans’ Corporate team has increased in numbers and depth to support the growing needs of its clients recently. Uniquely in the local marketplace, the team also includes a specialist contracts and technology sub-team.”
The winners will be revealed at the Northern Ireland Dealmakers Awards Dinner taking place at The Europa Hotel, Belfast on 3rd March 2022.
Deal of the Year (transaction size £2.5m-£10m) shortlist, advised by Tughans includes:
Investment in B-Secur by First Capital Ventures (This deal has also been shortlisted for Private Equity/Venture Capital Deal of the Year.)
B-Secur has developed the world’s first technology that utilises a person’s unique heartbeat electrical signal to understand how they are and how well they are using devices. The investment accelerates B-Secur’s commercial expansion within the US and also supports the further development of the company’s ECG technology. (Investors and advisers: Clarendon Fund Managers; Kernel Capital; Wharton Asset Management; Accelerated Digital Ventures; Tughans; Wilson Sonsini)
Investment in Dolyns (FAST Technologies holding company) by Bloc Blinds
The deal brought together two established manufacturing businesses based in Derry to help support both business’ growth strategies. In addition to the clear impact at a regional level, deal built on the synergies between Bloc and FAST and will strengthen the ability of both companies to compete globally. (Advisers: Davidson McDonnell; Moore NI; Tughans; Grant Thornton)
Investment in Hospital Services Group by Foresight Group
Established in 1962 and based in Belfast, HSL is a specialist distributor of diagnostic medical devices, surgical equipment and consumable products, servicing public and private hospitals across the UK and Ireland. This secondary investment supports HSL’s growth plans, enabling it to capitalise on a substantial market opportunity. (Advisers: Tughans; RPL Advisory; Grant Thornton; Mills Selig)
Investment in Cirdan Imaging by Future Fund, Kernel Capital, Kainos, Invest NI and Clarendon Fund Managers
Cirdan is a leading provider of informatics and imaging solutions that enhance and speed up the diagnosis of patients. The additional investment in Cirdan is another vote of confidence in this rapidly expanding medical technology company which is developing cutting-edge technology in Northern Ireland. (Advisers: Millar McCall Wylie; Tughans; Ashurst)
Deal of the Year (transaction size below £2.5m) shortlist, advised by Tughans includes:
Investment in CattleEye by Techstart Ventures, Seventure Partners and Turntide Technologies
CattleEye uses machine vision artificial intelligence, which provides automatic inspections and analysis for machinery. The investment will be used to bring to market CattleEye’s autonomous livestock welfare and performance monitoring product which is designed to increase animal welfare levels and reduce carbon emission intensity. (Advisers: Tughans; Keystone Law)
Growth funding in Pivotal Group by Whiterock Finance
Pivotal Group provides transactional management services and solutions to customers across the UK and Ireland. The growth funding provided supports the accelerated growth of its existing transactional management business in addition to the group’s new fintech division, and has also created 100 new jobs across the Group. (Advisers: A&L Goodbody; Tughans)
Investment into GenoME Diagnostics by Co-Fund NI, Qubis and Deepbridge Capital
GenoME Diagnostics is a spin-out from Queen’s University and has a decade of research undertaken at the Patrick G Johnston Centre for Cancer Research. The investment enabled the company to productise this work and has also leveraged a grant from Innovate UK. (Investors and advisers: Clarendon Fund Managers; Tughans)
Bank-funded Deal of the Year, advised by Tughans includes:
Management-backed acquisition of Natural World Products by MML Growth Capital Partners Ireland (This deal has also been shortlisted for Private Equity/Venture Capital Deal of the Year.)
HSBC supported the management-backed acquisition of Natural World Products, the largest recycler of household organic waste on the island of Ireland. The deal represents a significant investment in the business alongside the current management team. (Bank and advisers: HSBC UK; EY; Tughans; Mills Selig; HNH; Roland Berger; Pinsent Masons)
Private Equity/Venture Capital Deal of the Year shortlist, advised by Tughans includes:
Buyout of investors and investment in Selazar by a global private equity firm
Selazar develops enterprise software to manage the fulfilment of online orders. The deal means the company can rapidly increase their headcount in NI and expand internationally within continental Europe, the US and South America. The investment was the first realisation for Invest NI’s CEIF fund and Foresight’s MEIF fund. (Investors and advisers: Clarendon Fund Managers; HCA Corporate Finance; Foresight Group; Tughans; Browne Jacobson; PwC Dublin; Co-Fund NI)
Investment in Datactics by Par Equity, Kernel Capital, Invest NI and others
The Belfast-based software and services provider, which employs a 50-strong team, has developed a platform that allows companies to centralise the controls necessary for data management. The company will use the investment to accelerate its growth by investing in sales resources in London and New York. (Advisers: Tughans; A&L Goodbody; TLT LLP)
Buyout of investors and investment in Selazar by a global private equity firm
Selazar develops enterprise software to manage the fulfilment of online orders. The deal means the company can rapidly increase their headcount in NI and expand internationally within continental Europe, the US and South America. The investment was the first realisation for Invest NI’s CEIF fund and Foresight’s MEIF fund. (Investors and advisers: Clarendon Fund Managers; HCA Corporate Finance; Foresight Group; Tughans; Browne Jacobson; PwC Dublin; Co-Fund NI)
