Dealmakers hit a treble in two weeks
Dealmakers from Deloitte Midlands corporate financial advisory team have completed a hat-trick of deals in two weeks, including the landmark sale of one of UK’s oldest and best-known diversified farming business Strutt & Parker (Farms).
Working with private and listed companies and private equity houses, the deals span a variety of sectors from property and agriculture to chemicals, with investment from both European and US investors.
Led by the head of corporate finance in the Midlands, Darren Boocock, and East Midlands partner David Jones, the three deals include the sale of Strutt & Parker to Robigus along with the sale of Euston Biogas and S&P Biogas to Foresight Group for undisclosed sums.
The third deal involved the sale of Coventry-based Norman Hay’s operating divisions to NYSE-listed global chemicals conglomerate, Quaker Houghton Chemical Corporation, for £80m.
Darren Boocock, head of corporate finance in the Midlands, explains: “The UK deal market continues to thrive and the sale of Strutt & Parker in particular proves that with the right marketing, UK businesses will continue to realise their true potential in an ever-changing political and economic landscape.”
David Jones, corporate finance partner at Deloitte Midlands, added: “The sale of Strutt & Parker is a huge vote of confidence for British agriculture and farming. When the business was first marketed last year there was global interest, not just because of its reputation and heritage, but also because investors see the long-term merits of investing in UK property backed assets.
“It not only realised its potential, but secured investors who will respect its heritage and culture – a fantastic outcome for both the buyer and seller.”
Darren Boocock continued: “All three deals demonstrate that the deal market remains buoyant with competition for quality assets from not just corporates and private equity houses, but also overseas investors.”
