Buzzacott has provided financial and tax due diligence, transaction advisory, and tax structuring services to Novastone Capital Advisors on their acquisition of Paul Mathew Transport as part of the Novastone Entrepreneurship Through Acquisition (ETA) Programme.

Overview of the deal

We are delighted to announce the acquisition of Paul Mathew Transport by Novastone Capital Advisors and Eyal Kaplan through the Novastone Entrepreneurship Through Acquisition (ETA) Programme.

The transaction secures the long-term future of a well-established business serving the theatre and live entertainment industry, with the deal marking another milestone in Novastone’s commitment to supporting strong UK SMEs through succession and growth.

Buzzacott provided Financial and Tax Due Diligence, Transaction Advisory, and Tax Structuring services, drawing on our specialist experience in advising Search Fund and ETA clients from initial review through to completion. Buzzacott has supported Novastone on all four of its UK acquisitions to date.

Who are the firms involved?

Novastone Capital Advisors (NCA) is a global investment firm headquartered in Switzerland that specialises in operator-led Search Fund and Entrepreneurship Through Acquisition (ETA) investments. Its model connects exceptional mid-career operators (“searchers”) with established small and medium-sized businesses, supporting them through every stage of the journey - from search and acquisition to post-deal value creation.

Paul Mathew Transport, established over 40 years ago, is a specialist logistics provider to the theatre and live entertainment sector. Renowned for its reliability, flexibility and deep sector knowledge, the company offers tailored transportation, warehousing and delivery coordination to many of the UK’s leading productions and venues.

Valuable highlights of the deal

This transaction showcases Buzzacott’s continuing expertise in the Search Fund / ETA market, where our joined-up approach to financial, tax and structuring advice helps clients navigate acquisitions efficiently and confidently. Our team worked collaboratively across service lines to deliver comprehensive insight and actionable recommendations, ensuring Novastone and Eyal Kaplan had a clear understanding of both commercial and tax considerations at every stage. We particularly valued the opportunity to support a deal that preserves the legacy of a respected UK business while enabling new leadership to build on decades of success. Transactions like this reflect our continued commitment to supporting ambitious entrepreneurs and investors driving sustainable growth in the UK market.

Buzzacott team

Financial due diligence and transaction advisory: George Thresh, Alex Judd and Lee D’arcy

Tax due diligence and structuring: Kazia Kruszewski , Kam Chauhan and Alastair McQuater

"Thanks George, it was a pleasure, really appreciate all the support and hard work you and the team invested in helping us making this deal happen!"

- Eyal Kaplan, CEO

"It was a pleasure to work with Eyal and the Novastone team throughout the process and we are excited to see the business continue on it’s impressive growth journey under Eyal’s leadership. The transaction helps to illustrate how the UK ETA ecosystem has grown over a very strong few years with many founders recognising the benefits of the model.”

- George Thresh