SECTOR

Professional Services / Independent advisory

BUSINESS DESCRIPTION

MJ Hudson operated as an AIM-listed financial services support provider for fund managers and asset owners in the United Kingdom. The Group had grown rapidly via acquisitions funded via AIM. The principal activity of the Group was acting as an independent advisory and infrastructure business, serving fund managers, investors and advisers.

DATE

October 2023​

SITUATION

• Prior to A&M’s involvement, MJ Hudson made market announcements regarding the suspension of its Chief Financial Officer and its inability to file audited statutory accounts for the year ended 30 June 2022 by 31 December 2022, due to accounting issues relating to earnings reporting.

• MJ Hudson also identified that its forecast cash generation had been reduced as a result of the accounting issues which had been identified, and the Company was not generating EBITDA at the previously anticipated levels.

A&M ROLE AND OUTCOME

• A&M was initially engaged to undertake an options review of the Group and review the short-term cash flow forecast. Soon thereafter, MJ Hudson engaged A&M to conduct a special situations M&A process. ​

• A&M worked with the remaining management team and interim professionals to market the business against adverse market announcements.

• The special situations process produced significant interest from specialist investors and resulted in a solvent sale of the majority of business units to Apex, with regulatory approval in all jurisdictions.