GT tops league table of M&A advisers, capping strong year of growth
Business and financial adviser Grant Thornton UK has been ranked as the UK’s number one financial adviser by volume, in the latest Experian MarketIQ M&A Review.
The accolade comes as the firm celebrates another successful year of merger and acquisition (M&A) deal activity.
The firm’s corporate finance team was involved in a total of 165 publicly disclosed deals, and 179 transactions overall, in the 2017 calendar year with a total transaction value of £5.5bn.
This represents a 25% increase in the volume of completed transactions over 2016 for the M&A team, with an average transaction value of £31m.
Of these transactions, over a quarter (26%) were cross-border deals, highlighting the continued interest from international firms in gaining a foothold in the UK and the continued drive to develop international markets.
One third (33%) of transactions involved private equity (PE) backing – an increase of 28% on the previous year – demonstrating the continued resilience of the PE market and the significant level of ‘dry powder’ for investment.
Throughout the year, Grant Thornton acted in both buy and sell-side capacities across a variety of sectors throughout the UK. Notable transactions included:
• The non-core divestment of Grass Roots Meeting and Events by Nasdaq listed Blackhawk Network Holdings Inc. to BCD Travel
• The sale of Macclesfield-based patient communication and experience specialist Healthcare Communications to AiM listed IMImobile plc for £15m
• Advising Wilmslow company Norcros plc on its £60m acquisition of Irish based bathroom accessories and furnishings business Merlyn Industries
• The sale of specialist education services provider Education Personnel Management Limited to Cheshire-based private equity backed Citation Limited
• The £163 million IPO of Alpha Financial Markets Consultancy Limited on AiM
• The sale of Aspect Enterprise Solutions, the commodity trade, risk management and analytics cloud platform, to ION Investment Group
Andy Morgan, partner and national head of corporate finance advisory, said: “Whilst the overall deal market experienced some economic and political headwinds, 2017 was a very busy and exciting year for our team.
“The total number of deal completions in the UK market was down by up to 10%, but we delivered a 25% increase in the number of deals closed by our Corporate Finance Advisory team. Valuations remain strong – and perhaps frothy in some areas – however, the level of liquidity in equity, debt and public markets and the continued appetite of international corporates for quality UK assets provides a strong underpin for deal activity into 2018.”
“Our deal track record reflects the significant progress we are making in growing our market share and the quality of our mandates. Our combination of deep sector expertise, local relationships, international reach and a joined up proposition across all aspects of the deal is really resonating in the market. We are entering 2018 on a very strong footing and are well positioned for further growth this year.”
Peter Terry, partner and head of corporate finance advisory in the North West, added: “We are very pleased to be ranked as the number one adviser national. The North West team ended 2017 on a high with four great regional deals completing in just five weeks.
“Confidence in the UK mid-market remains strong – corporates and private equity firms remain hungry to invest in quality assets and strong management teams with exciting growth prospects.
“I am upbeat on prospects for 2018. We are seeing a number of active sectors in the region, ranging from IT infrastructure to food and drink and technology.”
