AI Issue 7 2017

Acquisition International - July 2017 5 Prospect Business Centres Selects ArchOver for P2P Growth Funding Prospect Business Centres has provided specialist high-quality serviced office accommodation since opening its first centre in Leeds in 1980. The profitable business currently has seven centres in prime business locations, with five in London and two in Leeds. With a focus on quality of service and flexibility, Prospect Business Centres has an average occupancy rate of 87% in London and 82% nationwide. Its clients range from regional-based businesses like Health Management and West Yorks Mediation Services occupying one desk space in Leeds, to multinationals including GE Capital, AXA, NHS, Accenture and Keir Construction filling over 120 desks in the City. The company is now planning to open a further three sites in London over the next 18 months to meet the demand for serviced office space and support future growth. “Just a few years ago, alternative finance providers weren’t as available in the mainstream. Without the likes of ArchOver, the best options available came with high interest rates and requirements for personal guarantees,” explained Charlie Cudworth, managing director at Prospect Business Centres. “When we started to consider the next stage of financing to help us achieve our projected growth figures, we were introduced to ArchOver by CreditSquare. It was their commitment to working closely with our business to understand our requirements coupled with its ability to package a series of loans together made it an ideal choice.” Using its Secured & Assigned service, ArchOver has already raised £692,000 and is currently funding an additional £400,000 as part of a series of loans that will allow it to facilitate £3.1 million over the next 6 months. Against future contracted revenues of £12.3 million, the new loans will repay existing borrowing, reduce the cost of funding and give Prospect Business Centres the certainty that it needs to continue expanding and open new sites. “We aim to help British businesses and have worked hard to raise awareness about alternatives to traditional lending which also maximise returns for investors,” concluded Angus Dent, CEO at ArchOver. “Originally founded in Leeds in 1980, Prospect Business Centres has continued to expand as demand for serviced office space has grown. Prospect Business Centres is an excellent example of how we are supporting the growth of companies that have long been ahead of their time by making access to funding as easy and simple as possible. ArchOver, the peer-to-peer (P2P) business lending platform, has announced that Prospect Business Centres Ltd, the provider of serviced office accommodation, has selected ArchOver to raise additional working capital and replace its existing credit facilities. HampletonPartners,aninternational mergers and acquisitions and corporate finance advisory firm for technology companies, has advised the UK founders of Bangor, Wales- based NMi Metrology and Gaming Ltd in the sale to New Jersey-based GLI Group (GLI). NMi Metrology & Gaming is a market leading compliance testing and auditing laboratory in the fields of gaming and IT security whilst GLI delivers the highest quality land-based, lottery and iGaming testing and assessment services with laboratory locations on six continents. Andrew Rosewarne, director, NMi Metrology & Gaming says: “At NMi, we had a clear idea of our strategic and personal priorities in a transaction. Hampleton Partners helped manage the process smoothly from start to finish, leading to a transaction with the perfect partner. It was a pleasure working with them.” “We are delighted to have advised on this transaction,” said Miro Parizek, Principal Partner at Hampleton. “This is yet another great example of Hampleton’s dedicated expertise and how we apply proven experience to execute an optimal transaction in a complex, regulated technology- based industries” The engagement was led by Jonathan Simnett, Director at Hampleton, using a proven methodical, structured and open approach to M&A that creates multiple options leading to the most rewarding transactions. For more information. visit www. hampletonpartners.com , www.nmi-gaming.com & www.gaminglabs.com Hampleton Advises NMi Metrology &Gaming in the Sale to GLI Group NEWS / From Around The World