Finance advisory team hits £1bn deals milestone
The Yorkshire-based corporate finance advisory team at Deloitte has advised on more than £1bn-worth of deals in the first eight months of this year.
The mergers and acquisitions (M&A) milestone was passed at the end of August with the completion of the management buy-out of pest control specialist Pelsis, based in Knaresborough. The buy-out was backed by private equity investor LDC, which was advised by Deloitte.
In a busy month for the Deloitte team, it also supported General All-Purpose Plastics (GAP) on its acquisition of Sheffield-based building plastics and window specialist SIG, and provided advice to Heron Foods, based in Hull, on its £152m sale to convenience retail group B&M.
Other deals completed so far in 2017 include the £750m sale of Zenith Vehicle Holdings to investment group Bridgepoint, and the subsequent sale of Contract Vehicle Holdings (CVL) to Zenith.
Over the past 12 months, the financial advisory specialists at Deloitte’s Leeds office have advised on more than £2.5bn-worth of deals.
The corporate finance advisory team is led by Martin Jenkins, practice senior partner for Deloitte in Yorkshire and the North East.
He said: “The strength of M&A activity in Yorkshire in 2017 is a continuation of the previous year’s performance.
“Brexit and the general election have yet to have a material impact on our activity levels. This is due to a combination of factors, including the strong availability of debt financing and private equity capital, and the quality of the businesses we are working with. Interest and activity from strategic trade acquirers, including from overseas, has remained strong, which has encouraged sellers to come into the market.”
