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June 2021
Regional Corporate Update
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£200m + deal value delivered in first 6 months of 2021
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The pace of M&A deals has been relentless this year, and continues strongly.
Earlier in the year we announced 7 deal completions within a week of the budget; that pace of activity has been sustained, with a number of quality deals completing in recent weeks.
Strong private equity activity, combined with well resourced trade buyers has contributed to increasing deal values. However, buyers are continuing to spend a lot of time and care on diligence, and whilst we have seen a number of deals stall over pricing, the majority have completed successfully.
Sector strength is apparent in financial services where deals have included Skerritts, HFS Milbourne, and North Laine Financial Management. E Zec’s deal with PE House Cairngorm (non urgent patient transport) was perhaps the most directly Covid-related, while the sale of Whyte Bikes to the same PE House reflected a lockdown acceleration in this part of the leisure market.
We anticipate the M&A market to maintain strong momentum over the next year, and it will be interesting to see other sectors beginning to produce deals: travel is beginning to move in terms of commercial work, and online retail has had a very robust 12/18 months, with some quality brands looking to grow.
New recruits to expanding team
At the end of June this year, Gwen Godfrey will move into a consultancy role; we are very grateful to Gwen for the leadership she has provided for our regional banking practice over the course of many years. Hers are big shoes to fill, but we are confident that new partner, Sarah Naylor, will help us advance what is already a high quality practice.
We have also been joined this year by two very experienced corporate/commercial lawyers in the form of Josie Appleyard (from Mackrell Turner Garrett) and Liz Gillingham (from Penningtons) to support our growing team. Josie and Liz have have joined our Guildford operation and contributed to the deals featured below.
Jonathan Grant
Head of Corporate
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A selection of completions so far in 2021
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SALE
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Sale of
CCL Compliance Ltd to
PE-backed global compliance business, Waystone
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CONSULTANCY
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PE INVESTMENT
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Private equity investment by Sovereign Capital Partners
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FINANCIAL SERVICES
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SALE
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Sale of E-Zec Medical Transport Services
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MEDICAL TRANSPORT
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ACQUISITION
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Sale of Anabas to global facilities management business Armonia, part of Sofinord Group
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FACILITIES MANAGEMENT
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SALE
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Private equity investment by Cairngorm Capital Partners
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MANUFACTURING
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SALE
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Advised shareholders on sale of share capital to French PLC organisation
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LIFE SCIENCES
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SALE
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Sale of
HFS Milbourne
to
Tilney Smith & Williamson
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FINANCIAL SERVICES
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SALE
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Sale of employee communications firm
Caburn Hope to global company Buck
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COMMUNICATIONS
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SALE
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Acting for the seller
on the MBO of
North Laine Financial Management
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FINANCIAL SERVICES
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Your DMH Stallard Regional Corporate team
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Abigail Owen
Senior Corporate Counsel
Corporate
01293 558573
Email Abigail
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Danos Athanasi
Partner
Corporate
01293 558532
Email Danos
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Kate Norgett
Partner
Corporate
01483 467428
Email Kate
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