Five deals in as many weeks for Yorkshire corporate finance team

LUPTON Fawcett’s corporate finance team has made a flying start to 2009 by completing five deals in as many weeks.

The latest deal involved acting for Leeds University and the other shareholders of Evidence – a university spin-out – on its sale to an American buyer.

While two of the deals remain confidential, the other acquisitions include advising Harrogate-based Neoss on raising £5.5m additional finance, and advising Ashton-under-Lyne-based Excel Leisure Products on its sale to Oldham–based Simply Pool.

Four of the deals involved Yorkshire businesses and in the fifth all of the advisers and funders were Leeds-based. 

Giles Clegg, a director in the corporate finance team at Leeds-based Lupton Fawcett, who acted in four of the deals, said: “The key issue at the moment is the continuing lack of funding.

“This has caused a number of deals to fall away or to be significantly re-structured or delayed. The challenges faced in getting deals away have highlighted the need to have a good team of experienced advisers and the need to adopt a constructive and commercial approach to the negotiation process.”

He added: “We are facing tough conditions in which a good client base, strong relationships with other professionals and outstanding client service will be the key to continued success.”