Since being created by a management buy-out three years ago Chevler has gone from strength-to-strength following increased sales and a number of contract wins both at home and in its European and North American export markets.

Earlier this year Chevler bought the Cardiff-based greaseproof paper printer Lovely Packaging and announced it would not rule out further acquisitions if the right opportunities present themselves. The appointment of Mark Hislop to the Chevler Board in a non-executive capacity will therefore be invaluable in this quest.

A qualified banker, Mark has a wealth of experience working with SME’s and an in depth knowledge of raising finance for both organic and acquisition strategies.

Mark spent 19 years in the corporate banking sector, ultimately as a Director within the structured finance department of a ‘Big Four’ bank. He left banking to work in the Private Equity sector where he was responsible more than 30 investments. As a former Director for both a national accountancy practice and a leading regional practice, Mark has advised on transactions with a value in excess of £50m. He established Advantage Accountancy & Advisory LLP in 2010.

He said: “Since the management buy out I have seen the Chevler management team develop the business and position the company as a leading manufacturer of innovative packaging solutions for the bakery sector.
“The focus on innovation continues and with the management buy out now well behind the company the platform has been firmly established for growth, both organic and through acquisition, I look forward very much to playing a part in the future success of the company”
Commenting on the appointment Chevler’s managing director Stuart Whelan said: “Mark was instrumental in the management buyout of Chevler three years ago, and he has remained a valued and trusted advisor on a number of deals since including the recent acquisition of Lovely Packaging.

“His appointment is a signal of our strategy to continue growing and developing our business for the long-term, investing in and developing our existing capabilities and seeking out new opportunities which build on our market leading position.”

The acquisition provides Chevler with the opportunity to increase its innovative range of greaseproof bakery packaging products.

Advanatge advised the Chevler management on price negotiations and deal structure in addition to organising finance to support the transaction.

Advantage Accountancy & Advisory has developed a portfolio of about 100 clients and built a strong track record in corporate transactions and fund raising.

Set up at the end of last year by Steve Bickerton and Mark Hislop, the firm has advised on company acquisitions and sales valued at £12m and raised funding of more than £2m for clients.

Advantage acts for SMEs with growth potential, looking for advice and funding to support expansion, as well as offering compliance and tax services.

Mr Hislop said: “It seems we have tapped into a demand that we were confident existed in Wales. Our policy on fixed fees has also proved very attractive.”

In a recent deal the firm advised on a six-figure funding packaging for start-up solar panel installer So Gecko.
Mr Hislop said: “We brought together the company and their funders, and facilitated the deal. We are continuing to provide ongoing advice and tax services.”

Managing director of So Gecko, Graham Hall, said: “Advantage have enabled us to move quickly to benefit from the buoyant market in solar panel installation. We look forward to working with them to take the business forward.”
Mr Hislop added: “We have excellent working relationships with business funding organisations and we find that a well prepared business plan will often attract the funding it deserves.”

Transactional work had also been strong in the year. Among the deals the practice has advised on was the acquisition of Falcon Steels by Coilcolor, the sale of an agricultural service company as well as the management buy-out of DWJ Colourprint.

Both companies took advantage of the New Business Starts package offered by Advantage Accountancy & Advisory to help them:
i. Incorporate;
ii. Deal with HMRC compliance issues; and
iii. Raise funding for the new ventures.

Advantage Accountancy & Advisory worked with the directors to prepare Business Plans to demonstrate the potential of their business ideas for presentation to potential funders identified by Advantage. Funding was successfully obtained for both companies from banks, invoice discounters and Finance Wales

City firm Hydratech is investing £500,000 in pioneering a waterless engine cooling system.​

The cash boost, which has been funded with the backing of a debt and equity package from Tata steel subsidiary UK Steel Enterprise, could see up to 45 new jobs created in the next three years.

Hydratech operates from a factory in Europa Way, Fforestfach, and is hoping to see its turnover treble to £7.5 million by 2014.

The firm is working in partnership with US company Evans Cooling Systems to perfect the Cool-180 range of waterless engine coolants that improve performance and reliability, as well as reducing fuel consumption, carbon emissions and maintenance costs.

Hydratech, in conjunction with its American partner, has developed the Economax Engine Cooling System which incorporates the Cool-180 range, and is being marketed under the trading name of Evans Cooling Systems UK, within the Hydratech Group.

The system is being tested in ten haulage fleets belonging to companies in South Wales and the UK.

A major builders’ merchant has also confirmed an order for Economax conversions to its vehicles, and results for all test fleets are reported to be encouraging.

In the US, following year-long trials where fuel savings between four and 12 per cent were recorded, Veolia Environmental has placed an order for 2000 Economax conversions for their refuse collection fleet.

Blue chip companies including UPS are also making Economax conversions.

Managing director of Hydratech, Steve Hickson, said: “Evans Cooling Systems in Conneticut invented the new product and we began working with them four years ago.

“We saw that their innovative skills combined with our ability to bring the product to market was a winning combination.

“Water has many limitations.

“It has a relatively low boiling point, a propensity to corrode and traditional anti- freeze is a risk to humans and animals.

“Evans coolants have a much higher boiling point which prevents pressure build up and overheating.

“They eliminate rusting and galvanic corrosion and improve engine performance and efficiency, and they pose no threat to living things.”

Glyn Thomas, of UK Steel Enterprise, said: “We are delighted to be supporting Hydratech as they develop and market this innovative and exciting new product which may well have a major impact on industry and bring benefits for the environment.

“In addition it will bring badly needed jobs to Swansea and will greatly benefit the local economy.”

Mark Hislop, of Advantage Accountancy and Advisory, said: “We were delighted to have advised on the deal, having drawn up the business plan and introduced Hydratech to the funders.

“We wish them all success in the future.”

Mr Hickson said he was convinced the new coolant would have far reaching applications and eventually come to displace water anti-freeze products in all engines.

Our client, who receives a small personal pension in addition to his state pension was informed by HMRC that he owed £3,000 in tax relating to previous tax years (as far back as 2008). This underpayment was no fault of our clients and was due to HMRC delays in processing end of year details. Our client had thought that his taxes were up to date since collection was made via PAYE.

After very brief communications with HMRC, Advantage managed to ensure the whole underpayment was written-off.

Unfortunately, this situation is not isolated. We would be delightrd to help others in a similar situation.

The transaction allowed the business to continue trading and saved 18 jobs.

Simon Toft commented “It is pleasing, given the long history of this family business founded back in 1897, that we have had such a positive solution in which both the profitable printing business and the jobs of all its 18 employees were saved.

“We were fortunate that, even in this difficult climate, the business plan had the backing of major institutions and we were able to raise the finance to support the deal. This was a crucial endorsement of the business’s sustainability going forward. We also worked very closely with the company’s key suppliers prior to the deal; they were made aware of the proposed sale and were supportive of it.”

Advantage Accountancy & Advisory LLP based in Cardiff South Wales advised the management in respect of  the Business Plan, negotiations with the Administrator and funding of the transaction.

Marion Challenor, Managing Director of WWS UK, said, “This is a very exciting time for us and is very good news for our customers. From their perspective, they can expect business as usual with all UK breeding advisers and the WMS team of evaluators remaining in place. Their individual focus will remain on supplying the highest standards of quality and service which customers have come to know and expect.”

Advantage Accountancy & Advisory LLP based in Cardiff South Wales advised the vendors on valuation, deal structure and tax issues surrounding the transaction.

The acquisition of Falcon Steel, allowed manufacturing to recommence at the Swansea site and the continued employment   of 16 staff with immediate effect at its new subsidiary.

The business will trade as Coilcolor West with turnover expected to be £30m rising to £60m within 24 months.

Managing director of Coilcolor Dean Proctor said: “This deal gives Coilcolor a massive potential for growth, Greater capacity means we can offer existing and new customers a leaner, fitter and even more cost-effective service.

“Prospects are now even brighter for the existing company as well as our new team in Swansea. And South Wales can boast the largest independent coil coating company in the UK.”

Coilcolor was established over 30 years ago. The value of the deal was not disclosed.

Advantage Accountancy & Advisory LLP based in Cardiff South Wales advised the company through the negotiation process with the Administrators and helped secure the required funding for the transaction.