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Our corporate team starts 2022 with a strong start and continuing growth
The recovery of the M&A deals landscape since the start of the pandemic has been impressive and while 2022 is looking slower than 2021 there is still plenty of activity about it. There certainly appears to be capital still available in the system for both corporate and private equity to fund deals and the levels of business transformations following the pandemic is keeping deal levels healthy.
Our corporate team has advised on a wide range of international and domestic M&A and private equity deals in the first half of 2022 ranging in size from seed investments in start up businesses to multi million acquisitions across a range of sectors. Duncan James, Partner & Head of Corporate:
"Despite a great deal of economic uncertainty the team had a strong first half of the year with revenue increasing as against the previous period. Deal dynamics are definitely changing with multiples being under pressure as forecasts for the next couple of years are placed under the microscope.
However many sectors are still feeling strong with Healthcare, MedTech, Manufacturing, TMT and life sciences in particular holding up. Pipeline continues to be strong and we are hopeful that the recessionary pressures will not hit too hard for the second half of the year."
The firm, which has 10 office hubs with an 11th coming on line in the South West soon, has ambitious growth plans, having already welcomed two high-profile dealmakers to the team making it one of the largest teams across the Midlands.
Investment Funds
Clients have continued to raise funds and make investments, with some really interesting opportunities in the technology, renewables and healthcare space. Great to see investors and entrepreneurs continuing to work together to drive the UK economy despite what continues to be challenging times.
Deal Spotlight
Company: Foresight Sustainable Forestry Company:
Sector: Technology
Deal Value: £113.4m
27 forests have been sold by the Foresight Inheritance Tax Fund to Foresight Sustainable Forestry Company Plc (FSFC) as part of an investment fund portfolio disposal, worth £113.4 million. Read the full blog here >>
Islamic Finance
Our Islamic finance team has seen a significant increase in number of instructions and completions in the first half of the calendar year and wins across a number of sectors and customer profile types. There has been a considerable increase in the SME financing space where we have seen increased activity by fintechs as well as established banks.
All this points to a healthy and growing halal sector that we as a firm champion.
Deal Spotlight
Company: Pacifica Home Services Limited
Sector: Renewable Energy
An acquisition, in the north-east, of a majority stake in Pacifica Home Services Limited.
Banking
The last 6 months has seen no let-up in activity for the busy banking team. Led by myself and Chris Gayle in Birmingham and Russell Jarvis in London the group has continued to act not only for its usual well- known more traditional lenders but also for an increasing number of the cohort of new funders who are becoming a bigger feature in today’s mid-market lending space.
These new players have the appetite to support many businesses who are struggling to get funding from their usual sources whose balance sheets are heavy with COVID support debt and who are subject to tougher regulatory and governance regimes. They can move quickly and decisively where necessary and are likely to feature significantly more with rates and liquidity tightening in the coming months. The team believes it is very well placed to take advantage of this change which is likely to accelerate in the next half.
Particular sectors such as health and development and real estate finance have been especially active with the team picking up a large share of opportunities
Expanding in Birmingham
With more than 25 years’ qualified experience, Michael Stace joins Shakespeare Martineau from Browne Jacobson, where he was head of the firm’s Birmingham office.
Michael, who will be based at Shakespeare Martineau’s Birmingham hub, said:
“I am thrilled to have joined such a forward-thinking and ambitious firm at such an exciting time. I have been impressed by the energy and enthusiasm of those within the business, and I am looking forward to helping the Birmingham corporate team build upon and cement its presence and reputation in the local market.”
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Duncan works with fast growing family businesses and entrepreneurs to ensure they are successful and to help them achieve their goals through acquisitions, funding lines and exit and succession planning.
