Kevin Steven Corporate finance director
@pcaltd /company/pierce-group-ltd
@PierceCA
KEY SECTORS FOR 2022
As the country stumbles in to 2022 with an Omicron hangover the market for mergers and acquisitions remains robust as confidence remains stubbornly high despite increasing inflationary pressures.
Continued inflationary pressures, which has seen CPI peak at 5.1 per cent in November 2021, means each business must ensure that it has an appropriate financial structure to weather current market conditions.
The move from the government supported CBILS and BBILS to the less generous Recovery Loan Scheme and their subsequent withdrawal will create liquidity pressures for many.
Paul Spencer, Chris Johnson (PM+M partner), Jane Parry and Mark Schofield of Haworths
The Haworths team will continue to be located at the Old Tannery in Accrington for the time being, with the intention to relocate to PM+M’s head office on Greenbank Technology Park in March.
Paul Spencer, a director at Haworths, is joining PM+M as a partner. He says: “Our hope is that joining PM+M will mean greater things for us and our clients.
“The increased resources, along with PM+M’s commitment to quality and people development, will ensure that we can continue to provide an exceptional client service.”
Blackburn based engineering giant Assystem also moved to widen and diversify its offer to its customers as the year moved towards its close.
It acquired all the shares of Schofield Lothian, a London-based consulting company that primarily specialises in UK rail projects, and which has 80 specialist consultants.
Assystem says the deal will enable it to offer a “broader range” of end-to-end services for energy transition projects in the UK.
Those services will also be made available to its existing clients involved in new nuclear power station delivery, small modular reactors and renewables as well as hydrogen.
With Schofield Lothian’s expertise in consents and engagement and environmental services, Assystem says it can now serve energy projects from their early stages to completion.
Assystem is also becoming “a significant player” in engineering services for the
transportation sector. Schofield Lothian’s existing clients in that field will also benefit from a “broader service” offering.
The Lancashire based business will provide Schofield Lothian with all its experience in digitalising engineering and managing major rail projects in France, the Middle East and, more recently, India.
Thomas Branche, Assystem’s senior vice president, energy transition and infrastructures, says: “We are really excited about the combination of our two organisations’ capabilities, which we are sure will be a success.
The UK remains
an attractive target for inbound M&A particularly in areas it has strengths including financial services
“This combination of Schofield Lothian’s high-end capabilities in consents and engagement and environmental services with Assystem’s engineering skills and expertise will be a real advantage for energy transition projects in the UK.
“At the same time, the combination creates a key partner for the UK transportation sector, helping to build safer, cleaner and more efficient transport networks.”
Continued on page 76
LANCASHIREBUSINESSVIEW.CO.UK
The funding landscape has changed substantially and ensuring suitability of supply is as critical as any other key raw material.
The liquidity in both the debt and private equity markets will continue to drive M&A activity and two key sectors which we predict will be attractive to investors will be technology and healthcare.
Technology has become the driver within businesses and continues to flourish. Developments such as artificial intelligence and the “Internet of Things” has led to high demand for IT experts and innovative technologies. Technology businesses are seeking to accelerate the integration of new technologies through acquisition rather than in-house investment.
Healthcare services will continue to see significant acquisition activity. High acuity care has always been attractive to investors due to the restriction on supply and the robust, highly predictable fees available.
The impact of Covid on primary care has led to the government committing £36bn to the reform of adult social care and this will lead drive further M&A activity within the sector.
In addition, the continued integration of technology into delivering virtual care and digital systems will provide acquirers with the opportunity to secure synergies from consolidating several businesses onto a single digital operating platform.
We remain optimistic in respect of 2022 with a robust pipeline of both acquisitions and disposals across all sectors including technology, healthcare, manufacturing, and transport. Our experience is that investors remain attracted to robust businesses that can differentiate themselves from the competition.
For more information please visit
www.pierce.co.uk
or call 01254 688100
75
DEALMAKERS
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