36 corporate finance The future's bright for the Thames Valley
Grant Thornton's Thames Valley corporate finance team explains why they are so excited about the next 12 months
As the most active corporate finance team in the Thames Valley, Grant Thornton has had a front row seat in witnessing the impressive developments and successes that have taken place in the local market in recent years.
Against the backdrop of a challenging macro-economic environment, the corporate finance team at Grant Thornton has consistently bucked the wider market trend by completing a broad range of mid- market deals in the local market – a factor which, at the recent 2013 Thames Valley Deal awards, saw the team awarded the accolade of Corporate Finance Team of the Year for the third consecutive year in a row.
Commenting on the recent success, Duncan Lamb, lead advisory partner, said: “I am absolutely delighted for the team to get the recognition that it deserves in securing Corporate Finance Team of the Year for the third year running.
It is testament to our
hard work and supports the expansion that we have brought to the Thames Valley at a time when a number of people are trimming back. We are confident that, for the first time in a number of years, the signs of an improvement in the market are there, as businesses and funders alike are making decisions for the future based upon a degree of stability that has not recently been in evidence.”
During the qualifying period, the 17-strong team completed 24 corporate transactions and provided a range of deal advisory services to business owners, management teams, debt providers and private equity investors. Notable deals include the management buyin of SGX Sensortech, the growth capital fundraising for Primrose London and the management buyout of Tessella, which was voted Deal of the Year under £25m at the awards.
And the good news doesn't stop there, with the team recently citing a notable pick-up in deal related opportunities in the local market and building a strong pipeline of mandates for the next year. Bob Alsop leads the local transaction services team and is optimistic on the Thames Valley deal landscape for the next 12 months.
"The Thames Valley is a great place to be. We've made a significant investment in both people and offices, which puts us in the perfect position to support the local market with the increased level of transaction activity that we have seen recently. Our pipeline is stronger now than it
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Grant Thornton's Thames Valley corporate finance team
has been at any time in the two years since I joined Grant Thornton, and if it remains at the high levels experienced over the past three to four months we will have a very busy time ahead of us."
The team has also seen a number of recent promotions, including the appointment of Chris Baker to associate director in the lead advisory team and Steve Holmes and Richard Thomas to associate director and assistant manager in the transaction services team. In addition, Max Whitehead has joined as transaction services executive and Richard Lewis has joined the recovery and reorganisation team as associate director, with a focus on originating and developing new opportunities in the Thames Valley. The developments in the corporate finance team, together with the opening of its full service office in Winnersh last year, demonstrates Grant Thornton's firm commitment to the Thames Valley market.
Grant Thornton focuses exclusively on the mid-market, with significant experience of private equity backed transactions gained through leading deals such as the buyouts of Kerridge Commercials Systems, Amtech Software and Guralp Systems, and the on- going buy-and-build of Selection Services. The team's current pipeline also includes a number of larger mid-market deals – further testament to the quality of assets that occupy the Thames Valley.
Reflecting on what his clients need, and in his view should expect, from an adviser in current times, Lamb comments: "It is crucially important in the current market, that a corporate finance adviser can demonstrate an ability to complete deals. The deal landscape has changed vastly in the past five years, and transactions simply do not naturally come together in the same way they once did. To provide the best
possible chance of a successful outcome, it is vital for an adviser to bring the right people to the table, and to then work doggedly to ensure that the deal gets done. These to me are fundamentals that I would expect any client to demand from their adviser".
Lamb added: "Now, more than ever, we are utilising our international network, with 70% of all transactions in the past year involving some form of international contact – our international reach is proven and is really valued by our clients.
In addition,
our specialist knowledge of raising finance in the current market has also been critical to completing the number of our deals we have – securing finance is challenging and is often very time consuming in the current market, so it really does require a focused approach. We access a broad range of conventional and alternative financing solutions, from specialist debt and equity houses, to asset-based lenders and traditional clearing banks – our knowledge of the art of the possible is where we really add value."
Details:
Duncan Lamb 0118-9839612
Wendy Hart 01865-799 938 Bob Alsop
0118-9839637
THE BUSINESS MAGAZINE – THAMES VALLEY – JUNE 2013
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