RSM Tenon advises on £4.4m Black Country deal

RSM Tenon in Birmingham has advised on a £4.4 million deal which enabled a Wolverhampton private equity-owned engineering business to buy a components firm.

The Shanghai head office of fasteners and fixings specialist PSM International, part of a venture capital-backed group with operations all over the world, appointed RSM Tenon to help its Bilston based operation complete the £4.4 million acquisition of BAS Components.

James Carnegie, associate director in RSM Tenon’s corporate finance team, said he expected the PSM deal to be first of many international transactions handled by the Birmingham office.

“The complexities of this deal meant that it was a major challenge by any measure,” he said.

“But it was also the perfect way for us to demonstrate that RSM Tenon in Birmingham has the experience, capacity and commitment to help clients exploit global market opportunities.

“In deals like this you can often find that while the parties to the transaction may have considerable experience of acquisitions generally, they can still be unfamiliar with the procedures in particular markets.

“In this case that meant we were advising our client in the UK and China, fulfilling an advisory role to steer the process while also carrying out the financial due diligence.”

Mr Carnegie joined RSM Tenon last year from the in-house M&A team at a major distribution business and was able to bring his experience from both sides of the table to bear in the six weeks it took to complete the PSM transaction.