EY’s dealmakers in the North advise on transactions worth more than £2bn

The significant transactions which the team has worked on have included the £667m divestment by East Yorkshire-based Croda of its performance technologies and industrial chemicals business to a wholly owned subsidiary of global food corporation Cargill Inc.

Mark Clephan, EY’s North Corporate Finance Partner, said: “After a resurgence of deals in 2021, economic headwinds stunted the number of deal completions in the first half of this year.

"However, despite the geopolitical tensions and cost pressures, the transactions market has remained active, driven by a strong flow of private capital.

“EY’s team in the North has seen continued momentum and appetite for transactions, driven by businesses looking to transform and shape their organisations for the future, particularly using technology, which is boosting activity in that sector.

"Companies are investing in tech to boost capability, source management data, disrupt established industries, and improve customer/client experience.”

Most recently, the dealmakers at EY assisted SymphonyAI in acquiring financial crime detection business, NetReveal, from defence contractor BAE Systems. They also advised OCS Group UK, a facilities management business, to sell its facilities services division to global investment firm Clayton, Dubilier and Rice (CD&R).

Mr Clephan added: “The whole team at EY has worked on some tremendous deals so far this year, helping local businesses with their growth and transformation ambitions, in what remains a challenging and uncertain market.”

“In the last quarter of the year we expect the deals market to be tougher, in the face of continued economic volatility. That is likely to characterise the first half of 2023, with a potential pick-up in the second half of the year.”