M&A activity in the Midlands is on the rise, says BDO

Accountancy and business advisory firm BDO has advised on the sale of two fast-growing businesses, which it says mark an increase in mergers and acquisitions (M&A) activity in the Midlands. The Midlands team acted as

M&A adviser to the shareholders of B38 Group Holdings in one deal, and solar energy firm Prolectric Services (see page 61) in the other. B38 Group – a

provider of commercial property support services, which has regional offices in Birmingham and Derby - has been sold to Leicester-headquartered Bellrock, a compliance and risk management company. B38 has clients in the food,

retail and student accommodation markets. Satvir Bungar (pictured), head

of facilities sector M&A at BDO, said: “B38 is an exciting and fast- growing privately-owned business, which is a real success story during the pandemic. “This deal represents an

excellent partnership with a company of Bellrock’s calibre, thanks to the potential for synergies across a range of service lines. Given B38’s strong market credentials, this represents

an exciting deal in the FM sector. “The FM sector – both in the Midlands and the UK – is rich with innovative companies, such as B38, which are pushing the boundaries when it comes to service offering. “Despite the economic

backdrop, this makes them an extremely attractive proposition to larger corporates looking to expand their footprint in localised and global markets. “The FM market,

like many, has been compressed as a

result of Covid-19, but it is pleasing to see how it has grown in prominence due to

the essential frontline role it

has played during the pandemic. “As the economy starts to open

up, we expect to see an increase in the number of trade and private equity deals being completed as buyer confidence returns. “We anticipate this will gain

significant traction as the UK follows the Government’s roadmap to recovery over the coming months.” According to Experian MarketIQ

UK & Ireland League Tables, BDO was the most active adviser in 2020, taking the number one spot in the year-to-date M&A financial adviser rankings.

PwC advises on systems integrator specialist sale

PwC’s corporate finance team has acted as lead advisor to the shareholders of REPL Group, on its sale to Accenture Plc. Henley-in-Arden based REPL is a

systems integrator, specialising in ‘Blue Yonder’ software, which principally supports blue chip customers in the retail, convenience and logistic sectors. Accenture is an American-Irish

multinational, Fortune Global 500 professional services company, with more than 506,000 employees and revenues of $44.33bn in 2020. Together REPL and Accenture

will be able to use their joint capabilities and Accenture's global resources to help clients transform and reinvent their businesses.

The PwC team advising on the

deal was led by partner Sarah Taylor, who said: “We are delighted to have supported REPL on its sale to Accenture and we look forward to seeing the business continue to flourish. This transaction continues the strong momentum for PwC, working with numerous high growth technology businesses across the UK.” REPL chairman Mike Callender

said: “The PwC team have been remarkable and provided fantastic support to us throughout the process. Their team has worked tirelessly to help us navigate through the transaction and deliver a successful outcome within an accelerated time frame.”

April 2021 CHAMBERLINK 57

Sector Focus

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