Adviser bolsters transaction teams after completing £8bn of Northern deals
Business advisory group, PwC, has made a series of promotions and appointments in the North to support its transaction services and lead advisory teams, which have completed deals worth more than £8bn during the 2022-23 financial year.
There have been 58 promotions this month, including four directors and two new partner admissions – Georgie Bryce and Zeynep Turunc.
Georgie Bryce, will lead PwC’s Deals Insights & Analytics team in the North West with a focus on deploying advanced analytics to drive value across the deal lifecycle. She joined the firm in 2011.
Zeynep Turunc, has lived in Manchester for more than 20 years and is responsible for the growth of PwC’s Financial Crime practice in Manchester and Scotland. She joined the firm in 2018.
PwC’s North and Midlands teams carried out £10bn-worth of deals during 2022-23. Dan Gallagher, partner and N&M deals leader, said: “The North transactions and lead advisory team has delivered a strong performance this year against a backdrop of economic and geopolitical challenges. Following the record level of deals in 2021, we entered 2022 with a strong pipeline of activity which continued throughout the first half and then began to temper at the end of the year.
“Demand for our expertise remains strong, particularly in areas such as technology, transformation and ESG across a variety of sectors including technology, healthcare, industrial products, business services and energy and infrastructure. Despite the challenges, there continues to be positive market sentiment and ongoing appetite to acquire good quality businesses.”
He added: “In our latest CEO Survey, 63% of UK company leaders said they do not plan on delaying deals in the coming year and we are seeing companies are still very much on the lookout for opportunities to transact to transform their business. Corporate appetite to accelerate growth and change combined with private equity’s continued deployment of capital continue to support the deals market. We remain cautiously optimistic that 2023-24 will be an active M&A market.”
Deals in the industrials and business services sector remained strong, particularly in the infrastructure services sector where PwC saw a cluster of transactions including Triton Partners’ acquisition of O’Connor Utilities, OMERS’ acquisition of Network Plus and Arcus Infrastructure Partners’ acquisition of Workdry International Group.
More recently PwC lead advisory and transactions combined to advise Augean on its acquisition of Future Industrial Services from NorthEdge Capital and advised on another three deals in the waste and circular economy segment.
