James Cowper Kreston Corporate Finance (“JCK”) supported Snowbird Property & Kiasu Assets Ltd (“Snowbird & Kiasu”) on its acquisition of the trading subsidiaries of Kiasu Group Holdings Ltd

“Brad, Nikul, and Emma delivered exceptional support throughout the acquisition and hive-down of Kiasu Group. The James Cowper Kreston Corporate Finance team provided invaluable guidance, particularly on the pre- and post-transaction structure. Their detailed and insightful analysis played a critical role in shaping the overall investment decision and funding support from Snowbird Property Ltd.”
— Sandy Moodie, Snowbird Property Limited

The Transaction

Snowbird, through its existing relationship with JCK, approached our corporate finance team to assist with financial and tax due diligence on acquisition of Kiasu. The transaction consisted of a sale of shares of the three Kiasu companies and the hive-down of assets within the holding company.

JCK has maintained a strong relationship with Snowbird for the last 10 years, providing comprehensive accounting and tax services including bookkeeping, management accounts, statutory accounts and corporation tax compliance.

Our Approach

The transaction presented several complexities, requiring a proactive and collaborative approach. JCK worked closely with both Snowbird and Kiasu throughout the process to ensure our client could make the most informed decisions based on the most accurate and up to date information.

The Kiasu Group consisted of five companies. The deal involved the acquisition of its two primary trading entities delivering property compliance and business solutions within the facilities management sector: Kiasu Workforce and Kiasu Fire & Security, and one dormant company, Kiasu Drainage.

As part of our due diligence process, JCK provided detailed support including:

• Preparation of financial information: Developed a proforma consolidation of the acquired group financial information including eliminating transactions and balances and the carve out of a division which was included in the transaction perimeter.
• Project management: Coordinated communication between the client, target, and their respective accountants to keep all parties informed of key updates and timelines through to completion.
• Transaction mechanics advice: Support provided throughout the transaction, specifically in relation to the pre and post transaction structure of the group (which included a hive-down), working capital analysis and assisting with completion accounts.
• Tax advisory: Delivered tax advice regarding potential structuring issues and supporting the client in navigating potential implications.

The Result

Through close collaboration and detailed analysis, JCK successfully navigated the complexities of the transaction for Snowbird and Kiasu Assets. This enabled a smooth process and ensured completion within the agreed timeframe, delivering a positive outcome for all parties involved.