Deal Card: Octopus and LEEC
The BDO Birmingham Transaction Services team recently provided due diligence services to Octopus Ventures ("Octopus") on their investment into LEEC Limited ("LEEC"). LEEC has established itself as the UK market leader in the design and manufacture of mortuary and laboratory products. Equity funding was provided by Octopus, with debt and working capital facilities provided by Lloyds TSB, allowing LEEC to continue to develop new products, expand into new geographical markets and provides a solid platform for future growth.
"In performing its financial due diligence on LEEC, BDO demonstrated a flexible approach to our requirements and used its initiative to tackle some difficult issues. BDO's reporting was concise and pragmatic, and focussed on the key issues. The financial due diligence team also engaged well with their forensic and tax workstreams to deliver a seamless product."
Mark Nunny - Octopus Ventures
