Grant Thornton's northern corporate finance team advises on £100m worth of deals in first half of 2023

Grant Thornton’s northern corporate finance team advised on over 10 deals, equating to £100m in value, in the first half of 2023.

The northern team spans Yorkshire, with offices in Leeds and Sheffield, the North West, and the North East.

Most recently, the team, led by partner Peter Terry, northern head of corporate finance, advised on private equity firm Mercia’s exit from Manchester-based global parking reservation platform ParkVia to CAVU, a subsidiary of Manchester Airports Group.

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This was the third tech-based deal within the North West region that Grant Thornton has advised on in the first half, following the sale of two Liverpool businesses Ardent Credit Services and Horsefly.

Grant Thornton's northern orporate finance team. Picture: Simon DewhurstGrant Thornton's northern orporate finance team. Picture: Simon Dewhurst
Grant Thornton's northern orporate finance team. Picture: Simon Dewhurst

Meanwhile in Yorkshire, the corporate finance team has recently advised on the cross-border transaction of Schoeller-Bleckmann's acquisition of well completion specialist Praxis Completion Technology in Dubai.

This builds off the success of last year when Grant Thornton’s northern advisory team completed 48 deals.

Peter Terry said: “Despite the more challenging market conditions, with inflation still high and interest rates rising, there is a resilient market for high quality assets run by ambitious management teams.

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“SaaS businesses operating in favourable verticals continue to prove attractive to investors, both domestic and overseas, due to the annuity-like nature of their revenues, their scalability and resilience.”

Jim Whittaker, director in Yorkshire, added: “The continuing uncertainty in the wider macro environment means ongoing caution and sector selectivity amongst investors. We are seeing deeper market and financial diligence demands as well as, in some cases, more downside protection for buyers being built into deal structuring through earn-outs. However, many corporates with robust balance sheets and access to capital continue to see genuine strategic opportunities, particularly overseas buyers who still regard the UK as good value at a time when there might be less competition for assets.”

Over the last six months, the northern team has welcomed six new members to the team at assistant manager and manager level, joining their Manchester, Leeds and Liverpool offices.