North West deal volumes match London
THE North West and London have been the most active private equity deals markets in the UK this year, according to the latest data published by the Centre for Management Buyout Research (CMBOR).
The research, sponsored by EY and Equistone Partners Europe, shows that the North West and London shared the top spot – completing 25 deals each so far this year.
This was followed by the South East with 22, Scotland on 13 and Yorkshire/Humberside with 11.
At the end of the third quarter these North West deals were worth £1.5bn, in contrast to £2.7bn in 2012 – boosted by the £1.45bn buyout of Flintshire-based Iceland Foods – and £1.4bn in 2011.
The £964m sale of Liverpool-based B&M Retail to US private equity firm Clayton, Dubilier & Rice, remains the largest private equity buyout of 2013 in the UK, followed by the recent sale of Vue Entertainment to OMERS Private Equity and Alberta Investment Management Corporation (AIMCo) for £935m.
EY M&A partner, Tim Morris, said: “Standout deals completed at the beginning of this year including, B&M, Admiral Taverns and Ghd, have boosted confidence and driven activity in the North West. The region is a concentrate of entrepreneurial companies, a strong private equity and professional services community – all solid foundations for a healthy deals market.”
Together the North West and London took more than a third of the UK’s total number of buyouts in the nine months to the end of September.
