1813 Club and Premier Members
Strengthening confidence improves the M&A market
Accountant Smith Cooper is hoping that 2019 will prove a low point for the UK’s mergers and acquisitions market. The firm – which has an office in Birmingham – says
deal values were down by a massive 43 per cent in 2019, but believes the situation will improve this year. Smith Cooper partner John Farnsworth believes
that political uncertainty was the main reason behind the slump in activity, with dithering over issues such as Brexit forcing dealmakers to act more cautiously. The firm said that impact of this on the market
was devastating, with deal volumes down 13 per cent and the mega deals segment suffering a £1bn drop in deal value, year-on-year. In the Midlands, 2019 deal volume declined less
sharply (by eight per cent) than the national reduction of 13 per cent. This was just below 1,000 deals. Deal value fell by 27 per cent to £15.9bn. Overall,
the region accounted for 14.3 per cent of all UK deals, making it the busiest region for deal making outside of London and the South East, albeit only representing 7.7 per cent of total UK deal value. Smith Cooper says that although deal activity
undeniably slowed in 2019, with almost all sectors experiencing a downturn in both value and volume, the consensus is probably that the UK’s M&A market was now starting to show signs of recover, as companies jostled to take advantage of opportunities. The firm believes that the establishment of a more
stable government and a slightly clearer picture on Brexit will boost M&A this year, and will also
Memory Lane Cafe reaches milestone
The National Memorial Arboretum (NMA) Memory Lane Café is celebrating two years of helping people living with dementia. The NMA has engaged with
more than 100 such people in that time, and has trained more than 170 staff, volunteers and NMA friends to be ‘Dementia Friends’. During 2020, Spire Little Aston Hospital, based in Sutton Coldfield, will be supporting Memory Lane Café on an ongoing basis, providing valuable financial support to enable them to continue this important work. This will enable the Arboretum
to continue to provide Memory Lane Café sessions and to engage socially excluded older people. Memory Lane Café is held at The
National Memorial Arboretum on the third Friday of the month. Paula Kovaks, interim learning
and participation manager, said: “We recognise the value of a site such as ours in engaging those who may be at risk of social isolation. Through support from organisations such as Spire Little Aston, we are able to continue this hugely important work.”
John Farnsworth: Mergers market is looking up
Crown Highways invests in training
A Burntwood-based civil engineering company has branched out into skills training. Crown Highways’ new training
centre offers a diverse range of courses has been approved by City & Guilds, Higher Education Statistics Agency (HESA) and Lantra, which is a skills organisation supporting veterinary activities and other land-based industries. Crown Highways now
highlight the UK’s position on the world stage as an attractive destination for global investors. Mr Farnsworth said: “The paralysis caused by an
impotent Government and Brexit uncertainty in H2 (half two, or fiscal year second half) 2019 definitely impaired deal flow by slowing transactions to a caution-induced crawl – although the number of assignments we signed-up showed no deterioration at all. “While some caution and uncertainty remains, a
stronger government with a clear strategy on Brexit (whether one supports that or not), is strengthening confidence and paving the way to a clearer future for UK businesses. “We expect to complete more deals in 2020
compared to 2019, which hopefully marked the low tide in UK M&A.”
offers a diverse range of courses all delivered within their bespoke training facility located near Crown Highways Head Quarters at Unit 8, Queens Drive Industrial Estate, Chasetown, Burntwood, Staffordshire. WS7 4QF. The training centre is at Crown’s
Burntwood base, but the company can also travel to off-site locations to deliver courses. Crown chairman Steve Jones
(pictured) said: “The main reason for the investment into the new training facility was to ensure that Crown Highways ‘plugged the gap’ in the shortage of specialist and qualified resource within our Industry. The training facility will be offered out to our network of clients, suppliers and supply chain together with any interested third parties.”
Management shake-up at Freeths
Solicitors firm Freeths – which has an office in Birmingham – has announced a new management team, following the retirement of chief executive Peter Smith. His place will be taken by Karl
Jansen, who has been appointed as national managing partner. Philippa Dempster, managing
partner of the London office, will become senior partner and Julian Middleton will be the firm’s new deputy chairman. Freeths chairman Colin Flanagan
said: “This is another significant step in our growth as a top 50 UK law firm. The firm continues to go from strength or strength – in large part driven by the clarity of our vision, consistency of approach and the quality of our people. “Building a new management
team from within our own ranks is a clear demonstration of the strength of the firm and will ensure a smooth transition and strong leadership for the firm for the next stage of our growth.” Mr Jansen said: “We are all immensely proud to be part of the new management team. “As a group, we have long-
New team at the top: Karl Jansen, Philippa Dempster and Julian Middleton
standing, deep ties built over working together for nearly 30 years. We believe that our culture is a crucial ingredient in our success, and this shared view about what makes us different will be invaluable in our ongoing dynamic development, as we continue to attract and develop the best talent
and put our clients at the centre of everything we do.” The new appointments come
halfway through a plan launched by Freeths in 2014 to double in size, which is on target. Revenues at the firm are
expected to top £100m by the middle of this year.
March 2020 CHAMBERLINK 43
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