30 April 2009

Sale of Fawns Recreational Services Limited

Roffe Swayne Chartered Accountants and Stevens & Bolton LLP are delighted to report that they have together advised the shareholders of Fawn Recreational Services Limited on the sale of their business to Wicksteed Leisure Limited.

Despite the current challenging economic climate the deal was completed in 30 days. Fawns, based in Farnborough, Hampshire is a leading supplier of children’s play equipment primarily to educational establishments. Wicksteed Leisure is a market leader in the provision of children’s playgrounds and play equipment.

Russell Funnell, outgoing MD and shareholder of Fawns said ‘We were delighted to complete the transaction with Wicksteed in what I understand to be a very difficult transactional environment. All our advisors did a fantastic job in making sure that the timetable agreed at the outset was achieved’

Matthew Katz of Roffe Swayne, said ‘The acquisition of Fawns shows there is still a demand for good profitable businesses which can command a premium price. This is a rare good news story in a very difficult business environment.’

Keith Syson of Stevens & Bolton commented ‘It was encouraging to deal with a buyer committed to completing a transaction in a tight timetable. This shows that there are still good deals to be done for buyers and sellers’

The Roffe Swayne team was led by Matthew Katz, Associate Partner, Corporate Finance. The Stevens & Bolton LLP team by Keith Syson, Corporate Partner.