Advisory firm hails record year with 38% rise in deals
Advisory firm Dow Schofield Watts, which has an office in Leeds, is celebrating another record year with a 38% rise in the volume of deals it advised on.
The firm’s corporate finance and transaction services teams advised on 58 deals worth £839m in 2017, compared to 42 deals worth over £773m in the previous year.
During the year Dow Schofield Watts also launched its own international network of corporate finance advisers to help clients make the most of global business opportunities. Pangea M&A now has representatives in 12 countries across North America, Europe and Australia.
Meanwhile Dow Schofield Watts Angels, the new angel network it launched in the summer to boost investment in Northern technology firms, has attracted over 50 potential investors and applications from 137 companies and is close to completing its first deals. Meanwhile the firm’s private equity arm, PHD Equity Partners, stepped up its activity by completing four investments.
Dow Schofield Watts says that UK businesses have attracted strong interest from international buyers throughout 2017 and expects this to continue into 2018. During 2017 it advised on the sale of the £102m turnover Durham-based motorhome manufacturer, The Explorer Group (Elddis Caravans), to Erwin Hymer Group AG & Co of Germany.
It has also seen growing demand from the tech sector nationally. The Yorkshire & North East team advised on deals including Chaucer Group’s investment in the software business SharpCloud and Arrow Business Communications’ acquisition of Siebert, a telecoms and IT business.
The Yorkshire & the North East corporate finance and transaction services teams also advised on the £103m private equity-backed buy-out of the UK’s leading luxury holiday park operator Park Leisure 2000; the MBO of Brighouse-based TEV backed by YFM; the investment in Ultra Finishing by the Business Growth Fund; the acquisition of TDL by Clipper Group; and two prominent recruitment sector deals – the maiden investment of Operam Education in Provide Education and the sale of The Bridge to Morson Group.
During the year PHD Equity Partners completed four deals including a significant investment in Nottinghamshire-based arts supplies business Teaching Art, which runs the world’s largest arts club, the SAA, and the subsequent bolt-on acquisition of ArtGallery (UK), an online gallery operator.
Roger Esler, corporate finance director for Yorkshire & the North East, said: “2017 has been a truly progressive year both for the firm and for our region. It has been pleasing to see the breadth in sector and type of deal, demonstrating that all options are open for businesses seeking buyers, investors or lenders in the current market. We are very optimistic for 2018 and will apply our many years of experience to unlocking the very best terms for our clients.”
Rob McCarthy, who heads the transaction services team in Yorkshire & the North East, added: “2017 was our strongest performing year for DSW Transaction Services across the North. We successfully doubled the team size in our Leeds office, grew our client base and received recognition of the quality of our work with a leading industry award. A strong pipeline heading into 2018 points to continued growth. In addition to providing due diligence for those making acquisitions, we are increasingly providing advice to vendors; something we see partially as a market trend, but also further acknowledgement of DSW’s expertise.”
