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SafeGuard
Financial due diligence services to private equity and infrastructure investment manager group
About Foresight investment into S.G.S Holdings Limited
Foresight Group LLP’s East of England fund have invested £4.5m to back the management’s buyout of S.G.S (Peterborough) Holdings Limited, trading as SafeGuard from BCF Equity Partners. Price Bailey’s Strategic Corporate Finance team has been working with Foresight Group LLP to provide financial due diligence services on transactions for a number of years now. The completion of this transaction marks our 4th completed deal with Foresight.
The Strategic Corporate Finance team was engaged to carry out financial due diligence (FDD) into SafeGuard, a Peterborough based glazing manufacturing company. Our reporting was focused on historical trading, balance sheet, cash flow and financial projections. We carried out a detailed review of their working capital position, in order to ascertain what the true ‘normalised’ position was, taking into account some recent changes in supplier trading conditions in 2021, and the impact of recent energy price rises. In addition, we worked closely alongside Foresight’s commercial due diligence (CDD) providers to establish current and ongoing anticipated demand levels for glazed products and whether the DIY and home refurb ‘bubble’ that was experienced during the COVID-19 pandemic is expected to continue. This enabled us to ascertain appropriate sensitivities to apply to the financial model for down-side scenario testing.
Combined, this provided assurance to Foresight on the recent performance of the business and also on the assumptions underpinning the future financial performance documented in the financial model that was prepared by Safeguard’s management. As a result, the transaction successfully completed and SafeGuard can now focus on the continued growth and success of their business.
Price Bailey’s approach to financial due diligence means that we are able to easily adapt to the changing needs of clients, as more information becomes available. Our ‘red flag’ approach to reporting and provision of interim feedback, based on the information and data provided on an iterative basis, means that we can support funders and buyers to quickly determine whether the deal is commercially viable or not – giving everyone peace of mind
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