Dealmakers complete £3bn worth of transactions
PwC’s North transaction services team has completed deals with a combined value in excess of £3bn in the first quarter of the year.
Despite some economic uncertainty, the deals market continues to perform well, the team says, which completed more than 20 deals in the period.
Significant completions included advising 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.
PwC also advised EG Group, the Blackburn-based forecourt operator, on buy-side transactions including its acquisitions of US based Kroger’s 762 convenience store business network and NRGValue Network in the Netherlands. In addition PwC also provided vendor due diligence on G Square’s investment in Pharmacy2U.
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 services in support of NorthEdge’s investment in Platinum Stairlifts; endor due diligence on Lonsdale Partners acquisition of Cassellie and Alcuin Capital’s investment in Jigsaw24.
The team also provided buy-side due diligence for Scapa Group on the acquisition BioMed Laboratories and in support of Flowtech Fluidpower plc’s acquisition of Balu.
Will Oxley, transaction services partner, said: “We’ve had a strong start to 2018, picking up where we left off in 2017. We’ve had 10 completions in the first quarter including fundraisings for Ask 4, Pharmacy2U, Platinum Stairlifts, Access Hire and Cassellie Bathroom Products. There continues to be substantial amount of capital available to deploy, high quality businesses in growth mode and a very active Yorkshire Deals community. We’re positive about the remainder of the year with a strong pipeline and continue to invest in all our Deals teams to serve our clients.”
