Accountancy firm ‘wards off economic headwinds’ to advise on £5bn deals

PwC in the Midlands says it warded off “a headwind of political and economic uncertainty” to record a “buoyant” period of deal activity in 2017.

The firm’s Midlands deals team advised on around 40 deals completing to the value of £5bn. The firm says the majority of transactions have been in the industrial products and retail, consumer and leisure sectors.

PwC ended the year with the sale of Riviera Travel by Phoenix to Silverfleet Capital and Forest Holidays, which was backed by LDC, to Phoenix.

Matt Waddell, PwC Midlands corporate finance partner, said: “This is testament to the Midlands’ strong businesses, brands and local economy, which position the region to offer a healthy foundation for deal activity.

“Despite some of the economic challenges faced in 2017, private equity continued to provide a solid base for doing deals in the Midlands, both through selling good quality businesses, but also taking the opportunity to make new investments in quality management teams based in the region.

“We are also seeing our corporate clients looking to enhance their services and operations through strategic acquisitions. This includes an increasing number of businesses looking to invest in technology-enhanced opportunities, and we are supporting many clients to achieve this.”