Case studies

Helping a client secure an asset in a competitive auction

Delivering insight on sector, potential competing bidders and tactical pricing

Deloitte’s Midlands-based corporate finance advisory team advised Wesleyan Assurance Society on its successful acquisition of Syscap Holdings Limited from its management and funds controlled by AnaCap Financial Partners LLP.

Background to the acquisition

Wesleyan had identified Syscap as an acquisition that would strengthen its position in the short term professional lending market, extend its range of services to include asset finance and leasing products, and would utilise its funding capabilities.

The Midlands team had a strong relationship with Wesleyan, who valued their ability to combine specialist financial services sector knowledge with local experience and insight. 

Corporate Finance Advisory

Deloitte’s Midlands Advisory team supported Wesleyan form the early stages of the transaction, helping to  quickly establish a clear understanding of the target’s business. The team’s work involved a detailed assessment of the target and the value to Wesleyan. 

This enabled the team to advise  Wesleyan through each round of the process to ensure they were successful in acquiring the business.

Outcome

Wesleyan successfully acquired Syscap by demonstrating to the vendor that they were the right home for the business and executing the transaction in a timely and efficient manner. 

Steve Deutsch, Managing Director of Wesleyan Bank, commented, “Thanks once again for all the help the Deloitte team provided on this transaction. We could not have got there without your help”.

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