PwC’s regional team complete deals worth a staggering £3bn in first quarter

The Northern transaction team at accountancy firm PwC completed deals worth a staggering £3bn in the first quarter of the year.

Despite the economic uncertainty, the market continues to perform well with PwC’s North Transaction Services (TS) team completing over 20 deals in the first quarter of 2018.

The team worked alongside corporate and private equity clients on a wide range of deals.

The team provided financial, commercial, technology, operational and tax due diligence; data analytics; sale and purchase agreement advice; valuations support; capital markets advice and debt advisory services.

And they worked in a number sectors including healthcare, financial services, retail consumer and leisure, and industrial products.

Significant completions included advising EG Group, the Blackburn-based forecourt operator, on buy-side transactions, including its acquisitions of US based Kroger’s 762 convenience store network in a deal worth £1.5bn.

PwC also advised Ask4, the Sheffield based internet connectivity provider of high-speed internet and managed data services for multi-tenanted accommodation, to support its private equity investment from Bowmark Capital.

Other notable transactions included Mayborn Group’s acquisition of Gro-Group Holdings Limited; NVM’s investment in Dale Power Solutions; vendor due diligence and debt advisory in support of NorthEdge’s investment in Platinum Stairlifts.

Jonathan Cooper, transaction services partner commented: “The start of 2018 has been particularly busy for PwC’s Northern deals, a period when we have experienced continued positive momentum in transaction volumes across a wide range of sectors.

“I’m delighted that the hard work that has gone into these transactions, often involving multi-disciplinary teams, has contributed to so many successful completions during a relatively short space of time.”

Mohsin Issa, EG Group founder and co-chief executive, said of PwC:  “We would like, once again, to extend our thanks to the team at PwC for their help and support in helping EG Group complete another successful acquisition.”

Jonathan Burrow, Ask4 Founder added: “PwC’s Transaction Services team provided outstanding assistance throughout the process.

“PwC undertook comprehensive commercial and financial due diligence on behalf of the vendors, which allowed prospective investors to rapidly understand the business and ultimately allowed us to transact on an accelerated timetable.

“The PwC teams were a pleasure to work with, undertaking rigorous analysis and producing high-quality work with as little impact on management or the day-to-day running of the business as possible.

“PwC provided an expert team to assist with negotiating the SPA and completion mechanics, which ultimately helped us deliver a fair deal for all stakeholders.”

 

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