Business Headlines

Quayle Munro Holdings PLC Acquisition of The van Tulleken Company and Application for Quotation

London/Apr 14, 2008--The Board of Quayle Munro is delighted to announce the acquisition of van Tulleken, the international corporate finance adviser specialising in the publishing, information and technology industries. The consideration is being satisfied by the issue of 313,988 shares and the payment of £1,952,386 in cash.  In addition, share options have been issued to staff of van Tulleken over 59,434 shares.

Quayle Munro is an AIM-listed independent merchant bank with offices in Edinburgh and London, active in corporate finance (including equity and debt advisory), public project finance, specialist fund management and direct investment.  In July 2007, the Group acquired the corporate finance adviser, New Boathouse Capital, which was established by Peter Norris in 2000.  It has recently advised on transactions for the Virgin Group, including its proposal for Northern Rock, Drillgreat (on the take private of Monsoon), Soho House, Duncton, Target Entertainment and Trainline. 

Van Tulleken is an international corporate finance adviser specialising in the information industries – media, technology and publishing.  Founded in 1995, with offices in London and New York, clients have included Hearst, Pearson, Dolan Media, Reed Elsevier, von Holzbrinck, Thomson, Wolters Kluwer and Nielsen (formerly VNU), as well as private equity firms and small and medium-sized independent companies.  Van Tulleken has closed over 100 transactions since its foundation.  Recent transactions include Hearst’s acquisition of the Map of Medicine, Heren Energy’s sale to Reed Business Information, Complinet’s sale of a significant minority interest to Fidelity Equity Partners and Soliloquy Learning’s sale to Scientific Learning.

The combination of van Tulleken and Quayle Munro’s existing corporate finance businesses provides a compelling strategic and cultural fit.  The combined Group will have a broader, better balanced corporate finance business with greater diversity of revenues.  The Group’s strengthened competitive position and the addition of a New York office will enhance its ability to compete for larger assignments.  It will also offer greater opportunities to junior staff, and assist in attracting and retaining top talent.

Peter Norris, Chief Executive of Quayle Munro, commented: “This is an excellent opportunity to bring together two businesses with complementary strengths.  The acquisition of van Tulleken is an important further step in Quayle Munro’s expansion as an independent merchant bank - the deal will add significantly to the Group’s senior resources and brings with it a number of valuable long term business relationships, both assets key to our approach to business.”

Kit van Tulleken, CEO of van Tulleken said: “This is an exciting development for our clients and staff who will benefit from the increased scale and broader expertise of the combined business.  We will importantly maintain the things that have made us successful; our strong sector focus; discretion; dedication to clients, and the highest standards of advice and execution.”

For further information:
Peter Norris, Chief Executive, Quayle Munro:       020 7471 3770
Kit van Tulleken, CEO, van Tulleken:               020 7235 1099
John Kiely / Libby Young, Smithfield:              020 7360 4900
Ken Fleming, Brewin Dolphin (Nomad):               0845 213 4214

Quayle Munro (www.quayle.co.uk) is an AIM-listed independent merchant bank, active in corporate finance (including equity and debt advisory), public project finance, specialist fund management and investment on its own account.  The Group was co-founded in 1983 by its present Chairman, Ian Quayle Jones, and listed on the London Stock Exchange via an Introduction in 1993, transferring to AIM in 2003.  In July 2007 it acquired the corporate finance adviser, New Boathouse Capital, which was established by Peter Norris in 2000.  With offices in London and Edinburgh, the Group has an attractive spread of clients across sectors. 

The van Tulleken Company (www.vantulleken.com) is a leading international corporate finance adviser on M&A and strategic developments in the media, information and technology industries.  With offices in London and New York, it serves large international companies and SMEs in the UK, Europe and the US.  Clients include corporations, financial sponsors, media executives and entrepreneurs. Companies by which it has been retained on an ongoing or assignment basis include Wolters Kluwer; von Holtzbrinck; VNU; Reed Elsevier; Hearst & Pearson.  The skills and experience of the team are virtually unmatched in the industry, having closed over 100 transactions since its foundation, representing both sellers and acquirers.  The van Tulleken Company is Authorized and Regulated by the FSA.