Outstanding Year for Traders Accelerates Corporate Finance Team Activity
Accountancy and advisory firm, BDO, advised 60 corporate finance transactions in the North in 2021.
The firm also says it closed more than 400 corporate finance deals across the country last year, with a total value of £46billion.
Deals involving private equity accounted for more than 60% of closed deals as the region continued to rebound from the turmoil of 2020.
The deals spanned a range of sectors, with notable market activity in technology and media, real estate, manufacturing and engineering, and healthcare and education.
In particular, the firm advised on four deliveries in four months in the logistics sector.
The deals – which involved five completed in 10 weeks for the Leeds M&A team – included the sale of logistics company Cygnia to Wincanton plc, the sale of portable building maker The Thurston Group to investment group private industrial, the HLD group of companies and the sale of drainage industry experts Jet Aire to Adler & Allan, backed by Sun Capital Partners.
The team also managed the sale of luxury book specialist Kingsbury Press Holdings to Bluetree Design and Print, and the investment in Leeds-based thebigword group – a global language technology company – by US investor Susquehanna Private Capital. .
Jason Whitworth, M&A Partner at BDO in Leeds, said: “The regional market remained very open for business in 2021 as highly scalable companies continued to pull the purse strings from eager investors, with funds from private equity, in particular, confidently investing large funds in exciting and fast-growing sectors.
“With a strong deal pipeline across the business for 2022, there are few signs of a slowdown in market activity or a decline in investor appetite any time soon.
“For ambitious companies, this represents a perfect opportunity to accelerate their growth plans and capitalize on exceptional market conditions.”
Peter Hemington, Head of Mergers and Acquisitions at BDO, added: “2021 has been a remarkable year for dealmakers and activity has been buoyed by the resilience and ambition of UK entrepreneurial businesses.
“Our experience in private equity has put us in a good position as activity in the UK market in 2021 has reached levels not seen since before the global financial crisis.
“We saw exceptional values and deal volumes across all sectors, including technology and media, which continue to be one of the fastest growing areas of M&A activity for the industry. ‘company.”