Dains Corporate Finance provides Due Diligence Services to Tarkwa Investment and Allied Irish Bank
The Dains Corporate Finance team has recently undertaken financial and tax due diligence on behalf of Tarkwa Investment Limited and AIB to support the acquisition of Gee-Tee Signs Limited.
Gee-Tee Signs is a sign installation business which has been trading in Nottingham for almost three decades and counts Next, Marks & Spencer and Pizza Hut among its clients. Gee-Tee serves customers across a number of sectors including independent retailers, shopping centres, office blocks, schools and hotels.
Tarkwa was set up in 2016 by Chris Skelton, the former Managing Director of Derbyshire's OTR Tyres, which was sold to Canada-based Kal Tire.
Roy Farmer and Rob Wilson of Dains performed the financial diligence review. Adam Longmore of Dains provided the tax due diligence.
What we said
Roy Farmer, Partner from Dains Corporate Finance said: "This was a great opportunity to support both Chris Skelton and AIB in this transaction. Our review was tightly scoped to focus on the key issues relating to the MBI transaction, with particular attention paid to the existing customer relationships with the blue chip customer base. We look forward to continuing to support Chris in the future, and working with AIB again on similar transactions.”
What the Bank said
Carol Noonan, Relationship manager at AIB commented: “We were impressed by Dains’ collaborative approach to the DD process which they kicked off with a round table meeting involving the bank, Chris and his corporate finance advisors; a perfect forum to discuss the scope of the final document and ensure all parties concerns were addressed. They understood and respected the tight timescales involved with this transaction and were able to find ‘work round’ solutions to satisfy the bank’s requirements where particular sensitivity was required. They demonstrated a willingness to work with the bank and our advisors and responded in a fulsome and timely manner to any queries or issues.”
What our client said
Chris Skelton commented: “The financial due diligence report that Dains produced demonstrated their clear understanding of the business, and allowed them to focus on the key risk areas of the transaction. Their review was thorough and commercial, and I was very satisfied with the overall report and the level of service received. I wouldn’t hesitate to use Dains again on future opportunities.”