Private equity firms show support for Yorkshire

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THE number of deals involving Yorkshire-based manufacturing firms has reached its highest level for six years, according to a new industry report.

According to the latest data and analysis from Experian on behalf of law firm, Irwin Mitchell, Yorkshire manufacturers were the target of 28 deals during the third quarter of 2014. The figure marks a 27 per cent increase on the previous quarter, and takes the total number of transactions for the year so far to 69 – just three behind the number completed within Yorkshire throughout the whole of 2013. This increase, the fourth consecutive quarterly rise, resulted in the Yorkshire region increasing its national share of manufacturing M&A activity to 12.4 per cent. Although this represents an increase compared with the previous three quarters, the region’s share was below that of the South West and the North West. The report also highlighted an increase in the number of manufacturing deals in the region backed by private equity. During July, August and September, six manufacturing deals were financed through private equity, taking the total for the year so far to 12.

Andrea Cropley, partner and head of Irwin Mitchell’s corporate team in the North of England said: “The Yorkshire region had another very strong quarter with 28 manufacturing-related deals completing during the period. This is of course very encouraging, but what was perhaps even more significant was the growing role of private equity.”