Co-operative scoops best deal

THE CO-OPERATIVE Group’s acquisition of Somerfield was hailed as the deal of the year at last night’s Insider Dealmakers Awards.

The £1.5bn acquisition, cleared by the Office of Fair Trading last month, will create the UK’s fifth largest retailer with 3,000 shops and an 8% market share.

After picking up the award the Co-op’s chief executive Peter Marks said: “They talk about the ‘big four’ in retailing – it’s now the big five. I want to thank Insider and my team. It’s the best team in retailing.”

Dealmaker of the year went to Andy Westbrook of Deloitte who also picked up corporate finance adviser of the year. Mr Westbrook, who worked on the £73m secondary MBO at ATP Travel in July and the £70m buyout at Darwen-based Crown Paints in August, could not attend the event.

His colleague Paul Lupton, who heads Deloitte’s corporate finance team in the North West, picked up the award and quipped, “I taught him everything he knows”.

He added: “We’re in very difficult times at the moment but for imaginative, bright corporate financiers there will be deals out there.”

Individual honours also went to Neil Shepherd of DLA Piper who won corporate lawyer of the year, Steve O’Hare of Barclays Private Equity who picked up venture capitalist of the year and Mark Blower of Lloyds TSB, voted bank financier of the year.

Jonathan Boyers, head of corporate finance in the North at KPMG, picked up the firm’s award for corporate finance advisory team of the year. One of the team’s recent deals was the sale of Manchester-based BWA Water Additives to the Bahrain investment bank UIB in September.

Mr Boyers said: “It’s a reward for all the excellent work the team’s done. This award is an opportunity to improve our market position in difficult times.”

The winners were:

Corporate finance advisory team of the year – KPMG

Corporate law firm of the year – DLA Piper

Private equity team of the year – Barclays Ventures

Asset-based lender of the year – KBC Business Capital

Transaction services team of the year – Deloitte

Acquisition finance team of the year – Yorkshire Bank

AIM deal of the year – Optare

Fund of the year – Alliance Fund Managers

Corporate finance adviser of the year – Andy Westbrook, Deloitte

Corporate lawyer of the year – Neil Shepherd, DLA Piper

Venture capitalist of the year – Steve O’Hare, Barclays Private Equity

Bank financier of the year – Mark Blower, Lloyds TSB

Deal of the year – Co-operative Group’s acquisition of Somerfield

Dealmaker of the year – Andy Westbrook, Deloitte