Our corporate finance team in our Manchester office, led by Adnan Sajid, have provided lead advisory services to support the acquisition of Dalesway Yorkshire Limited by Rumulus Ltd for an undisclosed sum. Funding has been provided by HSBC UK’s West & North Yorkshire Business Banking team, led by Andrew Bennett.
Dalesway Yorkshire Limited provides off-road adventure experiences, corporate events and professional driver training courses at their site within the 3,000 acre Broughton Hall Estate in the Yorkshire Dales. The acquisition by Nick and Jonathan Rumboll coincides with the launch of the new Land Rover Defender, which is available to experience at the centre.
Adnan Sajid, corporate finance partner at our Manchester office said: “We are delighted to have supported Jonathan and Nick Rumboll on this acquisition, working closely with my team, Dominic Eccles (Corporate Finance Executive) and alongside the excellent team at HSBC UK, particularly Amy Wild (Relationship Manager). UHY Hacker Young’s Manchester CF team provide first class due diligence, fundraise and lead advisory services to clients, banks, debt funds and private equity, both in the region and nationally.”
Jonathan Rumboll, Director at Rumulus Ltd said: “The deal itself required funding over a 3-4 year period and the loan we were seeking was largely on a cash flow basis. Adnan and Dominic transformed our business plan into a document that was amenable to potential lenders, and HSBC UK were targeted, amongst others, due to their excellent reputation. UHY Hacker Young’s extensive automotive experience enabled us to provide detailed financial due diligence for the transaction, which facilitated progression of the loan application through credit approval at HSBC UK. Without the help, assistance and guidance of Adnan and Dominic at UHY Hacker Young in Manchester, this deal would not have been possible.”
