Forward support DMC on the acquisition of United Carlton

Following on from supporting Horizon on the acquisition of DMC in July 2018, Forward is delighted to have continued its relationship with the business, working with the management team on the acquisition of United Carlton.

DMC has long held a strong position in Southern England following the acquisition of Canotec, BCL and First Office. This latest acquisition provides the group with a much stronger presence in the North of the UK. United Carlton has spent 30 years developing strong relationships with clients from its three offices in Gateshead, York and Warrington. The combined business will employ 250 staff supporting 4,500 customers.

Forward provided financial support to DMC on the transaction. This included working to build an integrated financial model for the target company, as well as supporting the DMC finance team to develop an integrated group model to support funding drawdown for the transaction.

Commenting on the transaction Simon Davey, DMC CEO said: “Forward supported Horizon on the original transaction last year. They know our business and it made sense to ask them to continue to work with us on this acquisition. They worked quickly and responded efficiently to help us deliver the financial information that we needed for both Horizon and the bank.”

Forward Corporate Finance Director, Sarah Moores, commented, “It has been a pleasure to continue the relationship with the DMC team, and we wish them every success as they continue to grow the business.”

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