Mazars Corporate Finance Wins Two Finance Dublin Deals of the Year 2018

Mazars is delighted to win two Finance Dublin awards for advising the shareholders and management team on the sale of Fastway and advising Joyce Supermarkets on the buyside of the acquisition of the Nestor Group. We are extremely proud that Irelands leading businesses continue to partner with us and thrive.

About the Deal of the Year 2018: Fastway sells to MML and Management

The winning 'Deal of the Year' in the 'Loans & Financing category is the provision of growth capital facilities to Fastway Couriers in April 2017. Fastway is an innovative Irish business which has grown rapidly since it was founded in 2001 and today employs 550 people nationwide. Its growth has been spurred by process and  solution that guarantees delivery of online shopping for large Brands to Irish consumers. It now delivers over 15 million parcels a year. 

Pictured left to right: David Lucas, Andrew Moran, Tom O'Brien and John Bowe

About the Deal of the Year 2018: Fastway Raises €14m to Fund Growth Spurred by Innovative Internet Shopping Solution

The winning 'Deal of the Year' in the 'Loans & Financing category is the provision of growth capital facilities to Fastway Couriers in April 2017. Fastway is an innovative Irish business which has grown rapidly since it was founded in 2001 and today employs 550 people nationwide. Its growth has been spurred by process and solution that guarantees delivery of online shopping for large Brands to Irish consumers. It now delivers over 15 million parcels a year.

MML Growth Capital Partners Ireland made an equity investment and AIB Corporate Bank provided the debt package for the transaction. The transaction aligned the objectives of the existing exiting shareholders, the new shareholder (MML) and the ambitious plans of the existing management team to continue to grow the business

John Bowe, partner Mazars said,

'Mazars advised the Shareholders and Management on the sale of the business. It was about getting a fair value for shareholders while at the same time getting a partner on board who was the potential in the business and team could work with. We ran a competitive process with interest from both Irish and UK private equity. MML Ireland acquired the business with management and it will be exciting to see the business develop and grow over the next few years.' He added that the transaction was a 6 month process.’

About the Deal of the Year 2018: €27m Package Helps Joyce Supermarkets Double in Size

The winning 'Deal of the Year' in the 'Small Market M&A' category is the Joyce Supermarkets acquisition of four stores to become one Ireland's largest independent food retailers. The deal involved refinancing of existing facilities, with many twists and turns from a structure, legal and funding aspect.

Established in 1951, the Joyce Group is an independent family run supermarket and homeware provider in the West of Ireland, which has operated out of five supermarkets within the Galway area. The entry into receivership of four strategically located 'SuperValu' branded stores afforded a unique opportunity for significant growth and Joyce Group engaged Mazars Corporate Finance to advise on making a competitive bid for them. Mazars, in turn, undertook a competitive tendering process through which AIB Corporate Banking, was chosen to provide a comprehensive financing solution to the Group. This included the refinancing of existing debt provided by another bank as well as funding to support the acquisition. Including term debt, overdraft, guarantees and leasing AIB provided facilities of €27 million in total. The four businesses acquired are individually cash generative with strong projected cash flows and security cover and the deal has given Joyce Group significant additional scale, employing over 500 people in nine stores and two petrol stations in the Galway area.

Tom O’Brien, Partner, Mazars said

'Mazars advised Joyces on the buyside as they made the acquisition of Nestor Group. Nestors was in receivership and our role was to negotiate the purchase price and line up debt funding for the transaction. We ran a competitive debt process which saw AIB Corporate Banking delivering a good debt funding package which allowed our client finance the transaction.’

For more information on how our expert teams can assist you with your transaction contacts:

John Bowe Tel: 01 4496440 Email: jbowe@mazars.ie
Tom O’Brien Tel: 01 4494458 Email: tjobrien@mazars.ie
David Lucas Tel: 01 4496478 Email: dlucas@mazars.ie
Andrew Moran  Tel: 01 4496481 Email: amoran@mazars.ie

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