Acquisition of the Year; Deal Awards sponsored by Watson Burton.

Winner: Newcastle College 

AT 4.30am last Good Friday morning, after being awake for nearly 30 hours, executives from Newcastle College cracked open the champagne to celebrate a deal which had seen them become the UK's largest training provider boosting their annual turnover from pounds 50m to pounds 150m in the process.

When administrator Deloitte took over the ailing training firm Carter & Carter 10 days earlier they issued an Easter deadline for any rescue package to be completed.

On hearing of the difficulties, Newcastle College established a strategy group to explore the possibility of buying Carter & Carter from the administrators.

Carter & Carter employed 1,500 staff and provided vocational and employment skills training, mainly under Government-funded contracts, at more than 100 locations across the UK.

Newcastle College saw this as a tremendous opportunity to speed its growth.

College principal Jackie Fisher and the executive management team comprising Chris Bailey, Esme Winch, John Dallinson and Gary Whitehead contacted Watson Burton law firm and insolvency practitioner Gerald Krasner of Begbies Traynor for advice.

A large cross-departmental team of 27 lawyers from Watson Burton worked night and day to complete the deal.

Jackie Fisher, principal and chief executive of Newcastle College, said: "This was a fantastic opportunity for the college to strengthen its position as a key training provider for employers.

"I was enormously impressed by Paul McGowan and his legal team and the array of disciplines they were able to command to resolve any issues. It allowed us to cover a huge amount of work in a very compressed timescale."

Mr McGowan, Watson Burton education and employment partner, said: "This was an unprecedented deal for Newcastle College and for us.

We were able to react with speed to provide detailed, complex information within an extraordinarily tight timetable. As a result, the deal was completed successfully, many hundreds of jobs have been saved, and our client Newcastle College group has gained a UK-wide training dimension."

Andrew Cawkwell, head of corporate recovery at Watson Burton, said: "As far as deals to purchase businesses, assets and goodwill from administrators are concerned, this is in all likelihood one of the most high-profile deals to be seen this year."

The Watson Burton team of lawyers put together at short notice to deal with the pressing timetable faced by the client included partners Paul McGowan, Barney Frith, Robert O'Donovan, Simon Scougall, Chris Storey and John Devine, associates Andrew Cawkwell, David Jenkins and Mark Lazenby and John Bewick, solicitors Mark Evans, Ian Barker and Deborah Whitehead and trainee solicitors Sarah Barratt and Laura McIntosh. The input of Gerald Krasner to the deal was praised by Ms Fisher and it is understood his expertise helped shave a substantial sum from the eventual asking price.

Advisers

Watson Burton Gerald Krasner - Begbies Traynor

Runner-up: Hadrian Group

OVER 20 jobs were saved after joinery and shopfitting business West End Cabinet Company was bought out of administration by near neighbour Hadrian Group.

Architectural glazing company Hadrian integrated WECC with its own business and expanded its already impressive client list, which includes British Airways and Lloyds TSB.

The companies, both based on the Addison Industrial Estate, in Blaydon, continue to be run by their own management teams, with Hadrian being able to add WECC's pounds 1m turnover to its pounds 4m annual takings.

Advisers

Willey & Co Accountants Paterson Wolf & Co Solicitors

Runner-up: Nomad Digital

NOMAD Digital bought QinetiQ Rail in a pounds 4.4m deal.

The Corbridge company, which supplies wireless internet services to train operators, including Virgin Trains and Southern Railway on its London to Brighton line, snapped up QinetiQ Rail in exchange for an 8.6% stake in Nomad and a pounds 1.5m preference share loan.

The move internalised Nomad's direct competitor, decreased their market risk, allowed Nomad to access QinetiQ's technical resources and obtained thousands of engineering staff.

Advisers

Gordons KPMG Newcastle

Runner-up: Tharsus Engineering

WHEN sheet metal manufacturer Tharsus Engineering acquired Direct Message Ltd it allowed it to diversify into a new field and open up new markets.

During the acquisition it created a new group called Tharsus Vision which saw it develop a separate division to incorporate the field of work in which Direct Message operated in - the supply of illuminated adboxes to the outdoor advertising industr y.

The acquisition came at a time when Tharsus had developed a corporate strategy of speedy growth through acquisition.

Advisers

Eversheds unw LLP 

"This is in all likelihood one of the most high profile deals to be seen this year

CAPTION(S):

SUCCESS: Winner of Acquisition of the Year Chris Bailey representing Newcastle College Group, pictured with Gillian Hall of Watson Burton.