£200m worth of deals completed in 12 months by corporate finance team

Deals with a total value of around £200m have been completed by the corporate finance team at the Yorkshire office of accountants and business advisers, Azets, during the last 12 months.

More than 29 UK-wide transactions were handled by the 15-strong Yorkshire team.

Transactions included mergers and acquisitions, management buyouts and buy-ins, company restructuring, disposals, debt and equity funding and advising on establishing five employee ownership trusts.

The main focus of Azets Yorkshire team in the last 12 months has been on owner-managed SMEs and there were significant deals in mobile telecoms, logistics, marine, renewables, wholesale and retail, food, drink, hospitality and manufacturing.

Among major transactions were advising on the £10m sale of three associated companies, 8Point8 Support, 8point8 Training and Vantage Solutions Limited to facilities management company, Mitie Group Plc, London and supporting the MBO team at Leeds Plywood Doors, which has has 250 staff and a £70m turnover, on its acquisition of the company’s remaining share capital.

Azets also provided corporate finance advice to the incoming management team at Expect Distribution, Bradford, on its acquisition of the company, which has 300 staff and £40m annual turnover; the sale of York IT business HCI York to Advantos Equity Partners, London, and York-based waste management business, L Clancey & Sons.

Azets Yorkshire head of corporate finance, Tony Farmer, who is a partner, said: “Our team has performed extremely strongly in the last 12 months and we are pleased with what we have achieved for our clients with some complex and demanding transactions.

“Our team is one of the strongest and most experienced in Yorkshire and Humber and we have a strong and varied deals pipeline for at least the next 12 months.

“Although the economy is forecast to toughen, the money supply remains very strong and there is no let up in the appetite for mid-market corporate deals.

“However, it is becoming increasingly apparent that quality is key and businesses looking to sell need to be well prepared and able to withstand rigorous due diligence.”

The team’s success has led to three new appointments – corporate finance associates, Jacob Haldenby and Will Eardley and corporate finance executive, Kane Withall, while Mark Jennings has been promoted from associate to executive and Richard Weston from assistant manager to manager.