Clearwater International clears £1bn in transactions
BIRMINGHAM-based mid-market advisory firm Clearwater International completed 51 transactions worth €1.5bn (£1.17bn) in 2014.
The year saw the merger of Clearwater Corporate Finance in the UK with organisations in Spain, Portugal and Denmark as well as the forging of a strategic alliance with Chinese investment bank Interchina.
Clearwater International’s industrials and chemicals team was the most active, completing 14 deals.
This included the sales of Amber Chemicals, Door Stop International and Pentagon Chemicals – demonstrating that interest from US trade buyers is high.
Clearwater said these deals also show that buyers are increasingly looking for targets with specialist engineering or manufacturing expertise, as well as the potential to boost exports in global markets.
Some 28 of Clearwater International’s deals included private equity involvement including Nurseplus, Handicap-Befordring, Character World, Gatenby Sanderson, Stroma and Gymbox.
The business has also seen strong levels of activity from its debt advisory practice, with 16 of the company’s deals being structured with debt. With loan pricing reducing considerably in the last 18 months, competition in the European mid-market between banks and debt funds has increased.
Phil Burns, managing partner of Clearwater International, said: “This has been a year of considerable change and growth for Clearwater International. Merging with our partners in Spain, Portugal and Denmark has been an exceptional achievement, and one that has enabled us to extend our sector expertise across Europe. Our strategic alliance in China has also provided some excellent results for our clients.
“The merger has given us a depth within our sector teams which creates intimate knowledge of buyers and funders. When we deliver this in an integrated way it has produced some truly excellent client outcomes.
“Our deals pipeline means our business should grow further in 2015, which looks set to be a lucrative year in the M&A market.”
