M&A award for Animalcare

The veterinary and livestock products specialist was one of the winners at the 2009 M&A Awards.

20/05/2009 Robert Tyerman

Veterinary and livestock products specialist Animalcare has won the IPO of the Year award, sponsored by M&A magazine.

Animalcare, which supplies drugs and other veterinary and livestock products to vets and agricultural retailers beat a strong field, including short-listed African Medical Investments and Kentz, to take this prize at the 2009 M&A Awards, presented by yesterday evening TV presenter Daisy McAndrew at the London’s Park Lane Hilton. The company, steered by chief executive officer Simon Riddell, began life as unexciting PLUS counter Ritchey, but transformed itself through the £13.4 million purchase of Animalcare at the beginning of 2008, accompanied by a £6.4 million placing and AIM float at 55p.

Shares in the company, which turned a £10,000 loss into a £400,000 pre-tax profit in the six months to December on more than doubled turnover, surged to 112.5p at one point and are still 54 per cent up at 85p. Winner of the 2009 Turnaround of the Year award was food wholesaler Booker, run by chief executive Charles Wilson, which recently revealed a 3.3 per cent sales increase in the year to March in the face of challenging trading conditions.

ECI Partners was named Dealmaker of the Year following its sale of Racal Acoustics to US aerospace manufacturer Esterline Technologies for £115 million. In 2005, ECI had backed a £52 million management buy-out of the Harrow-based acoustics venture and December’s sale to Esterline was seen as a distinctly satisfactory exit.

Lloyds TSB Corporate Markets carried off the prize for Financier/Lender of the Year. The judging panel, drawn from the fields of technology, research, investment, corporate finance, accountancy, insurance, interim management, private equity and journalism, named Osborne Clarke as Law Firm of the Year.

Tenon won the Accountancy Firm of the Year award and ICON Corporate Finance scooped the trophy for Corporate Finance Boutique of the Year. Hazlewoods LLP was named Specialist Due Diligence Provider of the Year, NBGI Private Equity’s Richard Morley was judged M&A Personality of the Year and the prize for Interim Manager of the Year went to David Moore, interim chief executive officer of Amoena, provider of breast care products.

Sara Williams, chief executive officer of M&A’s parent company, AIM-quoted Vitesse Media, gave an update on developments within the group and Les Copeland, chief operating officer of Vitesse, delivered an upbeat appraisal of prospects for the growth company sector. TV sports presenter Ray Stubbs entertained the gathering with a speech only loosely connected to corporate themes.