South: Grant Thornton corporate finance team has successful half-year

Grant Thornton’s Thames Valley and Southampton corporate finance team handled £121 million of deals in the first half of 2017, up 36% from £88.8m year-on-year.

The surge in activity spanned the manufacturing, technology and logistics industries, and included mergers and acquisitions and flotations of some of the region’s most dynamic businesses.

This comes as Experian’s H1 M&A deal review indicated a 41% rise in the value of deal activity across the wider South East region from £18.7 billion to £26.4b. Nationally, Grant Thornton was ranked number one as the financial adviser that supported the most deals, totalling 69 across the UK.

H1 highlights for Grant Thornton’s Thames Valley and Southampton corporate finance team include acting as lead adviser in the sale of Reading-based Magal Engineering to Arlington Industries Group in May. The firm played an instrumental role in advising the shareholders of Magal on the sale and on a number of complexities which arose during the transaction, including the divestiture of an overseas subsidiary, the establishment of a joint venture in China as well as managing the process through the impact of the EU referendum.

The corporate finance team also advised the shareholders of Basingstoke-based technology firm SecurEnvoy on its £20m sale to Shearwater Group in May. The acquisition (a reverse takeover under AIM rules), saw Shearwater Group plc purchase 100% of the share capital of the business. The founders are staying on to manage day-to-day operations, meaning that customers and staff will have continuity through the business’ next phase of growth.

In March, Grant Thornton Thames Valley advised on the sale of Worldnet UK and France to the shareholders of Worldnet New York. Specialising in courier and shipping solutions for the world's biggest fashion brands, the deal allowed the UK client to realise value from the business, while maintaining the quality Worldnet brand.

Most recently, the team supported the AIM listing of FFI Holdings. Founded in London in 1950, FFI provides completion contracts to the entertainment industry for films, television, mini-series and streaming products.

Wendy Hart, corporate finance partner at Grant Thornton, said: “2017 has been a fantastic year for our team so far and there’s been a healthy appetite for deals to be done. We’ve been proud to work with so many interesting and ambitious businesses on their growth journeys and see them really maximise their value.

“We are continuing to meet with dynamic businesses that require medium term strategic advice and direction, as well as those seeking an exit or a fundraising in the short term. As a result, I remain positive about the level of future M&A activity across the region.”