Newspaper article Evening Gazette (Middlesbrough, England)

Pharmacy's Third Outlet Deal Ran Smoothly

Newspaper article Evening Gazette (Middlesbrough, England)

Pharmacy's Third Outlet Deal Ran Smoothly

Article excerpt

A MIDDLESBROUGH-based pharmacy group has expanded after buying a third outlet.

Knightingales Ltd has acquired A C Moule and Co on the town's Parliament Road.

Dealmakers from Tait Walker's corporate finance team and Teesside's Archers Law helped the business' joint owners David Jarvis and Kevin Simpson to secure funding from Lloyds Bank for the purchase.

Tait Walker's Steve Plaskitt led the team, who provided a business plan for the funders and prepared forecasts, while David Adams and the business team at Archers Law handled legal proceedings.

Mr Plaskitt, a corporate finance partner at Tait Walker said: "We're really pleased with how this deal went.

"Following detailed analysis of the pharmacy and financials, the deal was completed on schedule, the final valuation was as expected and all legal processes went smoothly.

"We're really happy this has gone so well for David and Kevin. This will mean that Knightingales can continue with their expansion plans. "We regularly work with SMEs and we're proud of the support we give them in the North-east, it's a sector we will continue to back."

Kevin Simpson, co-owner of the pharmacy business, said: "Knightingale's has had a long-standing business relationship with Tait Walker. …

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