Pannone Corporate M&A tops £200m in two months as it predicts a busy 2020

The corporate team at Pannone Corporate advised on deals worth more than £200m in December and January as it predicts a busy year ahead.

The team has advised on several international deals, including the disposal of Manchester-based software firm Maginus to US private equity firm Black Dragon Capital in a move that saw it merge with Finish counterpart, Digital Goodie.

Elsewhere, Pannone Corporate acted for international manufacturer Franke on its acquisition of a UK distributor.

Closer to home, it advised locally based gym group Total Fitness on its strategic acquisition of ProFit, the supplier of personal trainers, and Kamani Commercial Property on the acquisition of its new headquarters and family office.

The team has also advised on several investments into fast-growing technology-led firms, including advising NVM Private Equity, which, along with BGF, invested into Manchester-based online retailer CurrentBody, taking the total investment to £10m, and also advised YFM Equity Partners on its £5.6m Series A investment into online financial connections service, Unbiased.

Pannone Corporate partner Tom Hall said: “We had a very busy December which has continued into the New Year.

“Quality companies, particularly those in the technology sector, continue to attract both UK and international trade buyers and private equity investors.

“The deal pipeline looks strong for the coming months.”

He added: “Several of the VCT funds we act for continue to be oversubscribed on new VCT offers, partly due to pension tax relief restrictions on yearly contributions for additional rate taxpayers.

“In addition, we have seen several recent successful buyout fundraises, which often look to invest within 2-3 years of their final fund close.

“This has maintained liquidity in the market for quality assets within which they can invest and take on their next growth phase.”