Iceland deal boosts buyout figures
THE value of buyouts in the North West reached £927m in the third quarter of this year the running total for the first nine months of 2012 is 17 deals worth £2.7bn.
Data published by the Centre for Management Buyout Research (CMBOR) – sponsored by Ernst & Young and Equistone Partners Europe reveals deal values in the region are nearly £1bn up on the same period in 2011, but there have been 10 fewer deals in the nine months to the end of September.
In the same period in 2011 there were 27 deals worth £1.75bn.
Ernst & Young said the regional market had been buoyed by founder Malcolm Walker’s £1.45bn buyout of Flintshire-based Iceland Foods.
Ken Williamson, M&A partner at Ernst & Young said: “Market uncertainty and unpredictable pricing, continues to hinder deal-making. However, the facts remain: that there is still a desire to do deals; strong corporate players are cash rich; and private equity are keen to invest. It’s just a matter of time until we see a clear upswing in activity.”
In the UK the value of buyouts in Q3 2012 was £11.7bn, close to last year’s overall total of £12.6bn. The number of deals recorded hit 144, compared to 187 for the whole of 2011.
In the North West the majority of the buyouts (88%) completed so far this year, have been sub £100m with two deals recorded over £500m.
