Clearwater heading to Chancery Place

CLEARWATER Corporate Finance is moving to new 3,800 sq ft offices at the Chancery Place development in Manchester.

The move from Sovereign House, Queen Street, next week, comes after a record half year for the firm.

Deal values in the six months from April 1  are up 114% and by volume, 40% on last year. Clearwater advised on 14 transactions worth £419m.

The firm’s average deal size reached £30m in the first six months of the year, with three transactions with values over £50m. Of the 14 deals in the first half of the year, Clearwater originated 10.

Mike Reeves, managing partner at Clearwater in Manchester, said: “Having had a great start to our financial year, now is the perfect time to move to these stunning new offices and continue the growth we enjoyed during the first half of the year.

“The location is ideal for our employees and clients, as well as the deal making community in the city, and we all cannot wait to get set up there.”

Key transactions that Clearwater advised on during the financial year included the secondary buyout of XLN Telecom by ECI Partners; the sale of specialist teacher recruitment business, Teaching Personnel, to Graphite Capital; and the sale of DCC Plc’s mobility and rehabilitation business to Patterson Medical Ltd, the UK subsidiary of US-based Patterson Companies Inc.

In its largest deal, the firm advised residential property specialist, Adam Lawrence, in securing a £100m funding package – including a £50m equity investment from Graphite Capital – to support the development of his new house building company, London Square.