Record spring for KPMG’s northern Corporate Finance team
KPMG’s Corporate Finance team in the north is toasting a record spring after completing nine deals in six weeks, with a combined value of approximately half a billion pounds.
Of these nine deals, five were completed over a five-week period by the firm’s Leeds-based Corporate Finance team led by partner Christian Mayo.
The team kick-started a flurry of transactions in late April with the £200m sale of Victoria Plumb to TPG Capital, and completed their run of form advising management on the NVM Private Equity-backed MBO of Arnlea Systems and Nexus AB.
The nine deals included the sale of Sheffield-based wi-fi and broadband services provider Ask4 to Darwin Private Equity; advising Aimia Foods on the sale of the business to US-based Cott Corporation; advising Leeds-based Key Capital Partners and the management team of bespoke luxury furniture designer, manufacturer and supplier Neville Johnson on the sale of the business to Alcuin Capital Partners; advising the management team on the MBO of Arnlea Systems and Nexus AB, backed by NVM Private Equity; advising the shareholders and management of BGlobal plc in its disposal of its Metering and Utiligroup businesses; advising Clarke Energy on the disposal of Clarke Telecom to Renew; and providing financial advice to the board of Flowtech Fluidpower plc on its AIM floatation.
Christian Mayo, head of corporate finance for KPMG in Leeds, said: “Although there has been a lot of noise since the turn of the year around the return of M&A, the last six weeks have proved that the deal market is well and truly back. Stimulated by a steady increase in confidence and a general improvement in trading conditions, we’ve found that companies who have been contemplating a sale for a number of years but who were hampered by the economic downturn, have finally been able to get deals off the ground.
“What has been particularly pleasing from our point of view is the range and scope of activity, from acquisitions by overseas companies to floats to private-equity backed management buy-outs. We anticipate more businesses coming to market over the coming months, hopefully encouraged by those who have been successful so far.”
Mayo said he believes that there is more confidence in the general improvement of the economy and the general trading environment. He said he’s also been told that the timing is right for deals to be done.
“Our pipeline is strong – we’ve got about ten deals which will be completed in the next few months,” he added.
Mayo said he is confident this positive trend in the market will continue and more businesses will come to the market.
“My glass is definitely half full,” he said.
KPMG’s Corporate Finance team in the north comprises 32 people across its offices in Manchester, Leeds, Liverpool, Preston and Newcastle.
