Deal volume increases by 21% at advisory firm

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Advisory firm Clearwater International, which has offices in Nottingham and Birmingham, says it completed 129 deals in the last financial year with average deal values increasing by 31%.

The figures place Clearwater 7th in the pan-European financial advisors league tables.

Clearwater achieved revenues of over €74m in the year – a 9% growth on last year. The business said it saw a “strong” performance across all sectors and service lines.

Clearwater merged Milan-based Brera Financial Advisory in September 2019. The team in Milan completed almost double the number of deals in comparison to the previous 12 months, key deals included advising Italmobiliare Investment Holding on its investment in Officina Profumo Farmaceutica di Santa Maria Novella, a premium perfume and cosmetics company.

Clearwater promoted 25% of its team during 2019. The business also recruited partner Richard Goldsack to head up the new Leeds office in the UK, which opened in January. Clearwater says it is committed to increasing diversity across the workforce and this year made headway with 30% of junior hires being female.

Michael Reeves, chief executive, Clearwater International, said: “The success we have achieved over the past year would not have been possible without the trust our clients put in us to deliver on their ambitious goals, the energy and dedication of our team and the support of our professional contacts.

“The period that the world has entered into as a result of the COVID-19 crisis is unprecedented and unsurprisingly has affected our stakeholders and our business. However, it has also shown the resilience of our business; I am immensely proud of the adaptable nature of our team who have shown dedication and commitment to both the business and our clients in light of unparalleled challenges.

“Clearwater International continues to maintain its strong market position through our geographic and sector diversification. Our financial track record and results support a healthy balance sheet and strong cash position.

“While the uncertainty will undoubtedly have some impact on our business, I am confident that our continued origination approach to the market, will ensure Clearwater remains well-positioned through this period and beyond.”