‘The market is incredibly active,’ says newly appointed head of transactions

The newly appointed head of transactions in Yorkshire at EY, Mark Allcroft, has his sights expanding the team and investing in new M&A capability in the coming year.

Allcroft has returned to Yorkshire after spending the last 14 years of his career in London where he focused on advising corporate and private equity clients on acquisitions, disposals as well as stock market flotations.

While recognising the market is competitive and there will be bumps along the road, he feels the underlying drivers of investment remain as businesses continue to seek growth through organic and inorganic means.

Of the year ahead, he said: “The market is incredibly active and we have so many fantastic and attractive businesses in the region spanning a wide range of sectors – from industrial products, to housebuilders to food and drink and technology.  Clearly, the economy is not without its challenges, but the regional characteristics and the quality of our businesses we have here leave me feeling really optimistic and enthused. We need to ensure we have the right people, skills and capability as a firm to provide our clients with the advice they need to succeed.

“Having spent the last 6 months immersed in EY’s Innovation team, it is very clear to me that what we have now as a firm – by way of technology – will really make a huge difference to the speed in which we can work and the insights we can bring to our clients.   I expect this may require a different way of working, working more collaboratively with clients and co-developing bespoke solutions that work for them. This is crucial in a deal environment where one size doesn’t fit all.”

“Data will play a crucial role in the work we do.  Thinking more creatively about how we use the data we have around us to help make better and more informed, investment decisions is a priority.  Our team is being trained in new technology and to think more creatively –  with a ‘data mind-set’.  They are responding brilliantly – after all they are the iPhone generation – in fact I feel way behind the curve!” said Allcroft, who now lives in Sheffield with his wife and two children, and is based in EY’s Leeds office.

“Looking further ahead, there has to be focus on making sure that tech skills – with commercial value – are available and are retained by businesses in the region.  This is starting to come through.  The number of tech starts-ups and success stories here is encouraging.  It is very pleasing to see both funding and skills being made available to help these communities grow.  We’re not short of talent – just look at the strength of our academic institutions in the region.  The onus is on us as business leaders to create the opportunities to ensure our top talent is retained here.”

Allcroft also reflected upon the health Private Equity community and the investment being made in the region. “Looking back over the last few years we’ve seen the rise of some incredibly successful private equity investors in the region.  It is also encouraging to see the amount of inbound investment from around the UK as well as from overseas which is testament to what we have here.

“Having served a 14 year apprenticeship outside of Yorkshire being back home makes for an exciting prospect,” he added.

Allcroft’s team’s focus will be very much on supporting regional businesses with transactions. Allcroft’s career has taken him around the globe, having spent four years in Sydney and worked on many cross border transactions, but he says he is  glad to be back in his home region, where as an Owls fan he can watch more Sheffield Wednesday matches and also support the charitable organisations he is involved with.