“Last year we expected geopolitical issues to impact our deal activity, and so this proved to be. As with most in the market we saw a spike in activity linked to the Autumn Budget 2024 but also a heightened level of uncertainty and declining confidence in the second half of the year. Taken with the reduced attractiveness of our capital markets, it meant for tough underlying conditions generally, although fear of Capital Gains Tax changes certainly helped balance this in terms of deal activity. We also saw a lot of activity in our market and the broader professional services market as private equity determined that practices with quality repeat income and scalability represent an attractive investment thesis.
Our strong position in the professional services sector may have influenced our activity in this space, as did our increasing involvement in private equity deals; while deal activity outside of this focused on the usual sectors, with industrials, technology and consumer being prominent.
Will 2025 be less volatile? I doubt it. The political changes that unfolded in 2024, and those yet to come, will influence activity. However the Trump presidency will be hoping its policies will increase US market confidence, which could give rise to increased activity closer to home.”
Explore some of the completed transactions we advised on in 2024
Business and Professional Services
Advised the shareholders of Displayplan Limited, a YFM Equity Partners portfolio company, on its sale to Blackstone-backed HH Global, an international market leader in tech-enabled creative production and global retail marketing activation.
Displayplan Limited
Business and
Professional Services
Technology and Media
Manufacturing
Mining and Energy
Retail and Consumer
Manufacturing
Partner, Head of Corporate Finance
Peter Varley
Technology and Media
Manufacturing
Mining and Energy
Life Sciences and Healthcare
Getlink
Manufacturing
Advised French-listed Getlink, better known as the owner of the Channel Tunnel, on the acquisition of ChannelPorts Ltd and CustomsPro Ltd.
Ethos Partners
Manufacturing
Provided financial and taxation due diligence services to Ethos Partners LLP and Beechbrook Capital LLP in relation to their investment in Strata Creative Holdings Limited, a prominent UK-based brand experience and events agency.
Password services
Manufacturing
Advised the shareholders of Password Services (Holdings) Ltd, including Password Services (Air Conditioning) Ltd, a specialist heating, ventilating and air conditioning (HVAC) company on its sale to Johnson Controls.
Cicor UK Limited
Manufacturing
Advised Cicor UK Ltd (Cicor) on the acquisition of TT Electronics IoT Solutions Ltd, an electronics manufacturing services business operating in various markets including aerospace, defence and healthcare, with three production sites in the UK and China.
Solid State PLC
Manufacturing
Provided financial and tax due diligence services to Solid State PLC in respect of its recent Acquisition of Gateway Electronic Components Limited, a specialist in ferrite and magnetic components and solutions.
Solution 7 Ltd
Manufacturing
Provided lead advisory services to the shareholders of Solution 7, a UK developer of NetSuite reporting tools, on its sale to Zone & Co, a US private equity backed provider of ERP-native software.
Learning Technologies Group plc
Manufacturing
Provided vendor financial due diligence services to Learning Technologies Group plc (LTG), a global leader in learning and talent technologies, in respect of the sales of its VectorVMS business to PIXID Group, one of the largest vendor management platforms in Europe.
CloudClevr
Manufacturing
Advised CloudClevr, part of Rigby Group PLC, one of Europe’s largest private investors in technology, on its acquisition of Bamboo Technology Group, providing financial and tax due diligence advice.
Retail and Consumer
Altitec Blade Services
Manufacturing
Advised Altitec Blade Services on its sale to Swire Renewable Energy, a renewable energy inspection, repair, and maintenance business owned by the Swire Group.
Poundstretcher Limited
Manufacturing
Provided vendor financial due diligence services to Crown Crest Group Limited in respect of its sale of Poundstretcher Limited,
a long-established discount retailer based in Leicestershire, to Fortress Investment Group.
Life Sciences and Healthcare
Rockpool
Manufacturing
Provided financial and tax due diligence services to Rockpool in respect of its recent investment in Oxford Online Pharmacy, a fast-growing online retailer of privately prescribed medication.
Careskills Academy Limited
Manufacturing
Advised the shareholder of Careskills Academy, a leading e-learning provider to the social care market, on its sale to The Citation Group a tech-enabled global compliance specialist backed by private equity firms Hg Capital and KKR.
Connection Capital
Manufacturing
Provided financial and taxation due diligence, as well as tax structuring services to Connection Capital in connection with its MBO of Hood Group Limited.