Manchester’s deals market improves

THE VALUE of deals completed by Manchester-based advisors increased by 40% in the second quarter of 2010 compared with the same period a year earlier.

Figures produced by research firm Corpfin Experian for professional services marketing body Pro Manchester show that Manchester-based advisors worked on 47 deals during the period – of which 25 had disclosed values of £701m.

The number of deals was down by 8% on the corresponding quarter of 2009, but up by 9% on the first quarter of 2010.

The majority of deals where a value was disclosed were in the sub-£10m bracket, with 15 deals totalling just under £39m. The largest deal of the quarter was the £525m refinancing of Matalan Retail Ltd.

Pro Manchester chief executive John Ashcroft said: “There is cause for optimism with the total value of deals significantly higher than Quarter 2 in 2009, showing confidence is returning to the market.”