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DEALMAKERS
IN ASSOCIATION WITH:
FINISHING STRONGLY
By Ged Henderson
Lancashire businesses hit the acquisition trail as the calendar year came to a close, mirroring the appetite for dealmaking seen nationally.
Official figures revealed that 453 M&A transactions were completed in the UK during Quarter 3 with robust interest from private equity (PE).
Market watchers also say there has been rise in the number of deals for family-owned businesses, with a rush of entrepreneurs seeking to make the most of high levels of interest from both PE and trade buyers.
Steve Ivermee, strategy and transactions leader at EY, says: “Healthy levels of dealmaking are being driven by the desire to generate new value, unlock new opportunities and deliver efficiencies.”
That picture is set to continue. Pauline Rigby, head of corporate at Forbes Solicitors, is
forecasting that the M&A market in Lancashire and the wider North West will continue to be “buoyant” in 2022, with “opportunistic buyers” seeking out targets in sectors that have been hit hardest by the pandemic.
Healthy levels of dealmaking are being driven by the desire to generate new value
She says: “It’s certainly a different market out there and M&A deals are structured differently dependent upon the sector, the funding requirements and whether or not this is a sector that has excelled or unfortunately hasn’t excelled throughout the pandemic.”
In the final months of 2021, Lancashire saw deals completed across a range of sectors, from professional services to engineering, with expansion and growth a main driver for buyers and sellers. Supply chain security also influenced one of the transactions.
Blackburn based chartered accountancy, business advisory and financial planning group PM+M acquired the Accrington office of Haworths Chartered Accountants. The value of the deal has not been disclosed.
Jane Parry, managing partner at PM+M, explains the reasons behind the deal. She says: “We see real synergies between the two firms as we share a client-focused approach, have similar cultures, shared values, and a range of complementary services.
“I’m confident this deal will add value and will help us to continue investing in and growing our east Lancashire presence.”
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