Firms report strong deals performance
REGIONAL law firms Turner Parkinson and SAS Daniels have reported encouraging starts to 2012 for their corporate finance teams.
Manchester-based Turner Parkinson’s corporate group completed 11 deals in the first quarter worth an aggregate of £54m.
SAS Daniels meanwhile, said March was its best-ever month for billings, and its corporate team had a record quarter, completing 12 deals worth £25m since January.
Turner Parkinson attributed its success to strong local performance and growth in overseas transaction activity.
Most recently, it advised Indian conglomerate, TVS Group, on the acquisition of commercial vehicle parts distributor Universal Components and Chinese machinery and equipment manufacturer, Hangzhou JiuJiu, on its acquisition of Wigan-based HH Valves.
Corporate partner James Sheridan said: “We have seen a solid performance in terms of pure North West deals across various sectors, which is an encouraging sign.”
Deals handled SAS Daniels include acting for Yorkshire Bank on a £1.2m funding to back the expansion plans of a Cheshire-based demolition contractor and advising chartered surveyors and property consultants Dixon Webb on its acquisition by GVA.
It also advised Lancashire manufacturer GB Controls on a recent management buy-out and Commercial Label Products on its sale.
Chief executive Nigel Haddon, said: “Strong growth across all practice areas gives us a clear indication that our drive to win market-share from city centre and regional competitors is proving successful and that we’re on the right track to continue to grow in a sustainable long term way.”
