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Prime advises on multi-million pound acquisition

Lack of accuracy and timely advice and support in the corporate finance procedure are major factors in causing possible deals to be lost, according to leading Midlands Chartered Accountants Prime.

Jamie Skelding, corporate finance director at Coventry and Solihull-based Prime, issued the warning after the company had advised on the multi-million pound acquisition of a London company by an off-shore based buyer for £3.5m.

Prime provided financial due diligence advice and support to Alphamed ensuring that momentum was maintained throughout the process leading to a prompt acquisition by SC Healthcare, which represents the Healthcare Fund, an off-shore based company.

Jamie said: "We were well prepared so we could provide our client with the best possible advice when they needed it to assist them in securing the deal."

"We have had a very close relationship with Alphamed over many years providing them with regular management information and tax planning advice as well as year end statutory accounts."

"It was a natural progression for us to be closely involved in the preparation for and process of their sale."

Alphamed is a leading company in the healthcare sector based in London and specialising in discreet home delivery of stomacare services and continence products.

Hugh Brady, chairman of Alphamed, said: "Prime have advised us for years so when we negotiated the sale of our company we wanted them to play a key role. Prime's advisers sat with us throughout the whole process so that key information and advice was always on hand when required."

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