Advisors have capital idea

MANCHESTER-based corporate finance professionals are forging stronger links with London, according to new research. 

Figures from Manchester’s professional services marketing body pro.manchester, in association with Corpfin/Experian, show that since the beginning of Quarter 4 2009, advisors from the city have completed 27 deal in London and the South East worth a combined £337m, compared with 29 deals in their own city worth £127m.

In the third quarter of 2010, acquisitions remained the most popular deal type for local advisors, with the largest deal being the £48m acquisition of Opus Homewares Ltd by B&M Retail Ltd.

For the second quarter in a row, advisors were most active in the manufacturing sector, working on a total of 11 deals, with a combined value of more than £28m.

Pro.manchester chief executive John Ashcroft said: “Quarter 3 has been a difficult period for the UK economy as a whole. There is some uncertainty in the market as the impact of the comprehensive spending review  begins; however it is encouraging to see deals are still taking place and that Manchester professionals continue to have a strong presence outside the North West, reinforcing our position as a leading centre for financial and professional services outside of London.

“The work we’re doing to help Manchester advisers do more business with London is paying off.”