Lexington Advises Hallmark upon acquisition of MLCSL
Nov 30, 2018
Lexington Corporate Finance is pleased to have advised South West England based Hallmark Veterinary Compliance Services (Hallmark) upon its acquisition of Meat and Livestock Commercial Services Limited (MLCSL) divested from the ownership of the UK government's Agriculture and Horticulture Development Board (AHDB).
The deal was approved by the Minister of State at Defra, George Eustice, and completed on Friday, November 30. Lexington worked with Hallmark over the course of 2018 to position the Company as preferred bidder in the sale process. Hallmark was successfully selected having met all the criteria set down by AHDB's board, including value for money, track record of delivering independent services and commitment to the long-term future of MLCSL.
David Peace, Chairman of Hallmark, said "We are absolutely delighted with the acquisition of MLCSL, which we believe fits very well with our current operations, to the mutual benefit of both businesses' future development."
Lexington will continue to provide strategic advice and support to Hallmark's holding company, Vorenta, which has an exciting strategy to be one of the UK's leading compliance and testing providers across the entire food and safety and standards sector.
David said "This is the first transaction we have worked on with Lexington and we will certainly stay with them as we consider further acquisitions and group development. We have found Lexington's advice to be concise and helpful at all stages throughout the acquisition process; from opening discussions with potential funders, during vendor negotiations and in the closing stages right up to completion."
Gary Partridge, Lexington's Managing Director commented " The Vorenta and Hallmark teams were a delight to work with. MLSCL is the first step in an exciting sector consolidation strategy and we look forward to advising them upon that journey."