Mine's a double - Irn Bru owner looks to put a bit of iron into soft drinks brands
Our weekly free round up of key deals and major moves in the Rainmakers world
Hello Rainmakers,
Some tasty deals this week, not least the thirsty work that must have gone in to AG Barr’s double swoop for trendy drinks brands Fentimans and Frobishers.
Elsewhere, Endless have sold American Golf and the property lads at Centrick have taken their property game to the next floor.
Don’t forget, the Rainmakers Summit discount code is on this newsletter, but keep reading the rest of it before you get there.
This is free to all who have signed up, however Rainmakers subscribers get two unique pieces a week, and also full access to our back catalogue of investigations, scoops, and insights, including updates from The Secret Investor, interviews with entrepreneurs, and the leaders from VC and PE investors like Endless, and River Capital, Foresight, Mercia, Puma and LDC.
Irn Bru owner AG Barr is to put a bit of iron into soft drinks brands Fentimans, which it has bought for £38m and Frobishers for which it has paid £13m.
The Cumbernauld-headquartered drinks group has been steadily buying up the competition over the last few years, purchasing the Rio brand for £12m in 2023 and Boost Drinks for £20m at the end of 2022.
Commenting on the Fentimans deal, a statement read that the Northumberland-based business operates in “the attractive adult soft drinks market, which is benefitting from the consumer trend of reduced alcohol consumption”.
::
Endless have had a tough round since they rescued retailer American Golf in 2018, but they may have hit the sweet spot this week when an above par performance over the last eighteen months helped a winning shot to sell BBC TV Dragons’ Den judge, and keen golfer, Peter Jones.
His investment group have acquired Warrington-based retailer American Golf from private equity investors, Endless, for an undisclosed sum.
The specialist golf retailer, with an annual turnover of £135m was acquired by Endless in 2018 and currently employs more than 1,000 staff across its omnichannel operation, which consists of more than 80 bricks-and-mortar stores in the UK and Ireland alongside its online offering.
::
A German giant has smelled the success of a long-established North Yorkshire manufacturer of building products and facade systems. Multinational business Henkel has grabbed a majority stake in Thirsk-based Wetherby Laroc, though it has characterised the deal as a joint venture partnership. In the year 2024, Henkel reported sales of more than 21.6bn euros (£18.6bn) and adjusted operating profit of around 3.1bn euros (£2.7bn) with its three strongest brands being Loctite, Persil and Schwarzkopf
.
Henkel is a chemical and consumer goods company headquartered in Düsseldorf which provides adhesives, sealants and functional coatings worldwide. Wetherby Laroc has been trading for 48 years and supports contractors, architects, specifiers and distribution partners. The Yorkshire firm’s MD, Alex Chalmers, said the joint venture with Henkel will accelerate growth and enable his business to offer a broader range of products to customers.
::
Centrick is taking its property game to the next floor. The Birmingham-based firm, which manages over 30,000 homes and £4.5bn in client assets, has partnered with PHM Group in a move that promises to lift the business without changing its blueprint.
Centrick will continue to operate under the same brand and leadership, keeping the firm’s identity intact while PHM provides long-term investment and strategic support.
The deal, led by Debrett’s Advisory and supported by FRP Advisory, Fieldfisher, DAC Beachcroft, and Grant Thornton/HMT, was described as a “smooth, highly collaborative process” by Clive Hatchard of Debrett’s - proving that when it comes to deals, everyone’s on the same floor.
With this partnership, Centrick isn’t just raising the roof; it’s building a solid foundation for the next chapter of growth.
::
A Leicestershire property spree has collapsed under the law. Simon and Joanne Cudbill used unexplained income to buy, refurbish, and resell homes from 2009 to 2023 - all while keeping the taxman out of the picture.
After careful investigation, the CPS and East Midlands Police swooped in, uncovering a network of properties registered in family members’ names and multiple bank accounts. Turns out, what goes undeclared comes back to court.
Using civil recovery powers, the authorities secured £337,500 from the couple, ensuring their cash castle won’t rise on ill-gotten gains.
Adrian Foster, chief crown prosecutor, said: “They tried to continue benefiting from a previous criminal lifestyle. We’ve shown there was no legitimate source for this money and ensured they could no longer profit from it.”
Looks like this property flip has officially flipped back in the CPS’s favour.
::
TheBusinessDesk.com is to stage its first South West Rainmakers networking lunch, offering a unique opportunity to hear from some of the leaders in the region’s corporate finance sector.
This event, at Harvey Nichols in Bristol on 25 March, will bring together the key players in the South West’s rainmaking community to discuss the opportunities in the regional deals market as well as celebrating recent successes.
Speaking at the event will be TheBusinessDesk.com’s South West Rainmaker of the Year, Momentum Corporate Finance partner Alastair Boorman, and Changemaker of Year, Carmen Peacock, head of South West & South Wales, corporate & institutional banking, at Lloyds.
The pair were presented with their awards at the inaugural South West Rainmakers Awards in November – an occasion that brought together nearly 250 of the region’s corporate finance community to showcase the best deals of the previous 12 months and the teams behind them.
Alastair and Carmen will be joined by other Rainmakers Awards winners to give attendees at the lunch a chance to catch up with the key players in the region’s corporate finance community.
::
The Rainmakers Summit on the 25th of March will feature a debate on the future of professional services as partners consider their next strategic options.
Featuring leaders of businesses who have chosen very different paths, and an investor in one of the consolidators driving the change across the sector, the debate will throw an intense focus on the stark choices that professional services firms face.
Making the case for independence will be Helen Clayton, managing partner at accountancy firm PM&M.
Telling the story about their respective lives on the public markets will be Rakesh Shaunak, CEO of MHA, and James Sheridan, head of M&A at Knights PLC.
Explaining the investment decision behind aggregation will be Matt Nicholson, investment lead at Tenzing, the private equity backer of accountancy consolidator DJH.
As a thank you for being part of our Rainmakers community, we are pleased to offer an exclusive 20% discount for the upcoming Rainmakers Summit on March 25th.
This is a unique opportunity to engage with industry leaders, gain insights, and connect with like-minded professionals.
As you can see the agenda features keynote speakers and exclusive sessions hearing from The Beauty Tech Group, Northern Gritstone, Rem3dy Health & GM Pension Fund. With some more details below…
Event details & registration:
https://www.rainmakerssummit.co.uk/
Discount code: RAINMAKER20
Please note that this offer is available for a limited time. We encourage you to secure your place at your earliest convenience.
::
Thank you for subscribing to Rainmakers.
We believe in good journalism that is worthy of your support. Please share this edition of Rainmakers so we can grow the message further and wider.
The insights and commentary we share with you are rooted in the trust we have built in the business community.
We’re also on LinkedIn - please join our Rainmakers community group for updates and offers and opportunities to comment.
If you have something you think we should look at, then either reply to this newsletter or email michael.taylor@thebusinessdesk.com.