87 New entry
Stirling Moulded Composites, Blackburn
Stirling Moulded Composites and its team of 61 manufacture specialist moulded products. The company invests heavily in R&D and holds considerable IP in its industry. In the company’s 30th year, it was able to increase revenues by 13 per cent, up to £6.3m.
ESTABLISHED BUSINESSES PROVE THEIR RESILIENCE
By Pete Norris Relationship manager (North West), Allica Bank
With prevailing high-interest rates, trade tensions and inflation, 2023 was a turbulent year for the UK economy. Nationwide there were reports of decreasing numbers and values of M&As.
86 86 New entry Bowland Foods, Preston
Bowland is a butcher and wholesaler of beef, lamb and pork, all sourced from local farms. The business was founded in 1979 and remains under the stewardship of the Wood family. It recently expanded operations by opening its own farm in the Ribble Valley, though this is still in its development phase.
However, based on our experience and on speaking with other industry professionals it is apparent that UK business owners are determined to continue with both growth and exit plans and so our outlook looking into 2024 remains positive.
It may be the case that acquirers opt for smaller scale deals with a modest and reduced financial risk approach. However the market we operate in remains buoyant and we have a pipeline of interesting and challenging deals for the first quarter of 2024.
When looking at sectors specifically, it’s likely we’ll observe an increase in M&A within the healthcare industry, post Covid-19 pandemic;
with a specific focus on innovative solutions for telemedicine developments, the digitalisation of healthcare data and artificial intelligence (AI) applied to medical diagnostics.
Digital and technological transformation and the increasing interest in AI are also likely to drive and accelerate M&A within the tech sector throughout 2024.
Many companies are looking to acquire or invest in innovative tech companies to gain a competitive advantage and deals within the renewable energy sector, particularly solar and wind, are attractive to acquirers as governments globally seek to adopt policies and incentives to transition into a greener economy.
The sensitive markets remain retail and hospitality, with most lenders taking a cautious approach to investment and we would forecast that this remains similar throughout 2024.
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*Rate correct as of 1st March 2024. ‘AER’ stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. Savings Pot interest rate, cashback, and fee free account subject to eligibility. See full list of limits, cashback eligibility, and product information at
www.allica.bank/business-rewards-account/product-information. T&Cs apply.
Allica Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (FRN: 821851). Registered office: 4th floor, 164 Bishopsgate, London EC2M 4LX. Registered in England and Wales with company number 07706156.
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